6.0. SR 09-06-1994 - Laserfiche WebLink

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. At this point I will end the list of suggested changes in the budget to reduce the budget gap and request City Council input on these and other possible adjustments. Some items that come to mind include: . Further reductions in wage increases for employees in 1995 · A further reduction in the ice arena contribution in 1995 · A further reduction in the $10,000 Fire Department reserve for equipment . A reduction in the sealcoating program ($10,000?) · Reductions in the capital outlay purchases . Reductions in the new employees to be hired in 1995 . Additional cuts in expenditures within individual departments . Additional revenue increases throughout the budget . I am sure all of the above listed items to reduce the budget gap to $50,900 will not meet with unanimous Council approval or even majority Council approval. The above items are only suggested for City Council discussion and are offered as a starting point in order to get the budget gap under control. I am sure that individual City Council members have other ideas on how to reduce expenditures and add revenues. The above narrative should give us a good starting point for our 9/6/94 worksession and should allow us to get closer to a balanced budget for the 9112/94 budget worksession. Regarding the overall City tax rate and growth in the net tax capacity, please see the revised sheets from Finance Director Lori Johnson. The net tax capacity growth sheet includes figures for growth up to 15 percent in 1995. This would significantly offset the effect of the tax levy increase as discussed by the City Council during the 8/29-30 worksessions. The Council should note that the City is only 20 percent of the total property tax so if our City taxes go up and other taxes from the County and School District remain the same, then the net impact on the taxpayer will be small. The City has had a very reasonable tax rate over the past few years and with an increase in the net tax capacity anticipated, it seems that it is appropriate to now consider additional expenditures to meet our growing needs. If the growth in the net tax capacity does take place, the effect on the taxpayers will be relatively minor. . The City must certify its maximum tax levy and budget to the County by 9/15. Action is required by the City Council either on 9/6 or 9/12 on a number of City tax levy issues. Please see the attached tax levy resolutions for the General Fund, EDA, and HRA as prepared by the Finance Director. The Finance Director will also be asking for the Council to approve motions on the budget, setting the Truth in Taxation public hearing (see attachment), and adjusting some of the debt levies.