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<br />... <br />.. <br /> <br />P1\GE 'JW) <br />REVISICN> FRCM 8/31/92 IlUJ)(;m 'i'KllKSESSlOO #3 <br /> <br />2. Decrease ExPenditures <br />a. Council direction to re:luce street Deparbnent Pavement <br />Management costs from $205,000 to $197,500. '!his <br />represents a re:luction in estimated Keithson Road repair <br />project costs from $15,000 to $7500. <br />b. Council direction to staff to be prudent in authorizing <br />expenditures. Postpone discretionary spending into <br />next year to the extent possible. <br /> <br />B. 1993 PROFOSED <br /> <br />. <br /> <br />. <br /> <br />1. <br /> <br />Council direction to elllninate the $14, 000 ~ture for <br />contract sweeping. Public Works to utilize existing sweeper <br />in 1993 am explore pricing of the contract sweeping market. <br />Also prepare a pay back analysis on advisability of purchasing <br />a new sweeper. <br /> <br />2. <br /> <br />Related to Item #1 above, reduce General Tax Ievy receipts by <br />a co=esponding $14,000 (Assume no del.in:ruency percentage on <br />this increment). <br /> <br />Without upjated flACA, fiscal disparities, am Estimated Tax <br />Capacity numbers from Ramsey County, it is assumed that both <br />levies would also be re:luced by $14,000. '!his change would <br />represent a 3.7% Certifie:1 Ievy In=ease (From $1,529,678 to <br />$1,586,000) am a .7% SPread Ievy Increase (From $1,385,696 to <br />$1,396,000). <br /> <br />3. <br /> <br />The =ent 1993 Proposed Revenue Estimate assumes 100% <br />collection of $75,000 in Estimated flACA Aid. '!his is a <br />risky assurrption given the state I S past payment record am <br />the state's economy experiencing slow growth. A $35,000 - <br />$40,000 risk factor is present. '!his risk nay be mitigated <br />by stro~er =ent tax collections beyond planne:l <br />delin;{uency rates (8.5% of certifie:1 levy am 9.6% of tax <br />levy) or greater delii-quency collections ($5,000 is <br />estiJnated) . <br /> <br />4. <br /> <br />A contingency plan for repaying the PIR F\.1nd for the 1992 <br />Keithson Pond am Arden Place storm Sewer projects should <br />be developed in the event a storm water utility is not <br />implemented by first quarter 1993. <br /> <br />5. <br /> <br />If interior repairs to the north water tower are requi.re:1 <br />in the aIroUnt of $125,000, it is assumed the Water F\.1nd <br />would bo=ow the funds from PIR am repay the funds in <br />five years. <br />