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<br /> . <br />Preliminary Payable 1998 Levy <br />September 3,1997 Memorandum <br />Page Two . <br />Historical Levv <br />The City has historically maintained a fairly low net levy percentage increase each year. Since <br />1993, the percentage increase experienced by the City is as follows: <br /> Year Increase <br /> 1993 .62% <br /> 1994 9.94% <br /> 1995 4.94% <br /> 1996 2,94% <br /> 1997 1.95% <br /> 1998 1.91% <br />Capital Expenditures ~ <br />The net levy proposed does not reflect all of the revenue and expenditures involved as part of <br />municipal operations_ As a result of the 1998 Capital Improvement Plan, actual expenditures are <br />planned to increase $4,358,316 (60.2%) over the 1997 adopted budget level. Most of this <br />extraordinary increase is related to three spending items: <br /> a, Increased D/TED Economic Development Loans $ 750,000 <br /> b, City Hall Construction (portion) 650,000 .- <br /> c, Gateway Improvement Projects 2.700.000 <br /> $4,100,000 <br /> - <br />Excluding the impact ofthese three items would result in an overall spending increase of - <br />$258,316 (2.5%) over adopted 1997 budget levels, <br /> - <br />1998 Budget Process - <br />The following will document the 1998 budget process and provide a brief commentary on I' <br />specific budget items that have led to the current proposed 1998 net levy of $ I ,864,320, which <br />reflects a 1.9 I % or $35,000 increase over the comparable adopted 1997 net levy. <br /> Date Description Commentary 1 <br />1. Spring, 1997 1998 Pay Plan . City Administrator plan and <br /> review by Department - assume 1 <br /> 3% range move <br />2, Spring, 1997 Capital Improvement . Staff begins development of a I <br /> Plan (CIP) Five-Year CIP by Department <br />3. May 19, 1997 Council Budget . Council establishes a 0%-3% 1 <br /> Worksession levy increase target range with a <br /> preference for 0% .. <br /> I <br />