5.1. SR 12-13-2004 - Laserfiche WebLink

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Tax levy and budget notes of interest include tbe following: . The city tax rate, which is approximately one-third of the total tax bill, is not changing. The 2004 tax rate was 43.78 and this is the projected rate for 2005. (The 2003 tax rate was 44.61.) The general fund budget is projected in the amount of $9,284,100. This is a $1,408,700 or 17.89% increase. Taxes are the largest revenue source in tbe general fund. Approximately 65% of tbe general fund revenues come from taxes. Taxes in the general fund are projected at $6,051,800 for 2005. This is an $869,550 or 16.78% increase. There are 7 new full-time positions and two part-time positions included in the 2005 budget. Budget includes a 3% wage increase for non-union city employees. The largest expenditure type is personal services. The personal services total in tbe general fund is $6,928,150 or 75% of the total general fund. Expenditures for personal services are increasing $1,030,150 or 17.5% in 2005. Public Safety (police, fire, emergency preparedness, building/environmental) is tbe largest expenditure category at 47%. . . . . . . It is recommended tbat the Council approve tbe identical resolution for taxes payable in 2005 as what was approved on September 13, 2004 for tbe proposed maximum tax levy resolution. Attachments . 2005 General Fund Revenue Pages 2005 General Fund Expenditure Pages 2005 Special Revenue Funds Summary Page 2005 Tax Levy Resolution . . . Recommendation It is recommended tbat tbe City Council approve Resolution 04-_ authorizing tbe property tax levy for collection in 2005. It is recommended tbat tbe City Council approve a motion adopting the 2005 municipal general fund budget and tbe special revenue funds. s: \ Council\Pat\Budget\200S \ApproveBudgct&FinalTa..,<Levy.doc