3C, 2012 Proposed Final Budget and Tax Levy

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Memo City Council 2012 Proposed Final Budget and Tax Levy 9 accounting for in one fund and then a"charge rate" can be calculated and applied to each activity that is worked on. Establishing they funds has no effect on the budgets of other funds as we were already charging departments for their share of these costs, but administratively it was cumbersome and inefficient in the management of them. There are no significant changes to the Debt Service Fund. Capital Funds were discussed at our June meeting during the Capital Improvement Plan (CIP) review and will again be discussed during the CIP portion of the meeting. Enterprise Funds have been evaluated and changes made to accurately reflect economic conditions and historical trends. The current rate structure has been evaluated and no changes are recommended from staff at this time. The Council has asked staff to evaluate the "meter charge base" from 10,000 gallons to 5,000 gallons which will be presented and discussed in another agenda item. proposed budget are from the 2008 Rate Study. GENERAL INFORMATION 2012 Ratelncreases Water 7% Sanitary Sewer 2% Surface Water 3% The rates included in the A final levy is established and certified in December. As Council knows, the preliminary levy amount can be reduced, but it cannot be increased. It should be noted that the 3% levy increase provides no opportunity to build fund balances in capital funds (Park Fund, PIR/Capital, Public Safety).