8.0. SR 11-25-1996 - Laserfiche WebLink

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Budget Worksession Memo November 25, 1996 Page 5 furniture request is for two study tables for the main library area. The rest of the budget is very similar to previous years. The library expansion project debt is financed partly by tax revenues and partly by the landfill surcharge that the City Council has designated for this project... Please note that all of the revenues to cover expenses for the equipment certificate, special assessment and library budgets come from taxes. The surface water management/development fund tax levy that was approved in the September 9 maximum tax levy resolution is the same 2.25 percent as previous years. This 2.25 percent equals $294,100 in 1997. A draft of the surface water management (SWM) budget is attached for your review. Some of the total SWM tax levy (approximately $110,000 per year) is applied to the 1994 SWM bond. The balance due for principal and interest for this SWM bond is about $1.45 million. Also, the City Council has just recently approved the finances for the SWM components of the Main/Evans, Westwood, Fresno, and Western Area Phase II projects. The cost for these projects (approximately $700,000) is between $125,000 and $165,000 per year for five years beginning in 1997. Unlike the 1994 bonded debt that shows up in the SWM budget, these tax revenues will be separated out into a development fund line item on the tax levy resolution. The balance of the 1997 SWM funds are anticipated to be applied toward the 185th frontage road project (Joplin intersection area). Additional SWM funds should be available in 1997 if impact fees on new developments are collected. If additional monies are available, we will also look at the Ditch 28 situation. The City Council can also consider an internal loan to finance this or other projects. Other SWM projects on the horizon include work on the east side of Highway 169 around and south of County Road 12, the correction of a problem in the old core village area (near the 4th and Norfolk area), and development related projects in other parts of the community. After discussion and review as desired by the City Council, staff will be recommending that the City Council approved the sanitary landfill, ice arena, equipment reserve, equipment certificate, special assessment, library, and surface water management budgets. 1997 PAY RESOLUTION FOR NON ORGANIZED EMPLOYEES UPDATE ON PERSONNEL PROJECTS Under a separate memo, Assistant City Administrator Lori Johnson will summarize the staff recommendations on these issues and provide additional back up material.