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CCP 08-09-2004
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CCP 08-09-2004
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<br />. <br /> <br />. <br /> <br />. <br /> <br />, <br /> <br />~ <br />/],\~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />August 4, 2004 <br /> <br />Agenda Item <br /> <br />TO: Honorable Mayor and City Council <br /> <br />FROM: Murtuza Siddiqui, Finance Director/Treasurer ""'5 <br /> <br />SUBJECT: Preliminary 2005 Budget <br /> <br />BACKGROUND: <br /> <br />At the June 21, 2004 Work Session, Finance Director Murtuza Siddiqui presented an overview of <br />the City's Financial Structure and requested the Council to provide a general guidance to staff as <br />they prepare the Pretiminary 2005 Budget. At that meeting, the following direction was <br />provided by the Council: <br />. Assume a levy increase in the range of 3% to 4%, with a desire to stay eloser to 3%. <br />. Assume a 3% increase in step/COLA. <br />. Increase per employee (non-bargaining) City contribution to health/dental benefits to <br />$533 pcr month. <br /> <br />DISCUSSION: <br />Staff has taken a conservative approach in preparing this budget. The Preliminary 2005 Budget <br />has incorporated the following assumptions: <br />. Levy increase was limited to 3%. It should be noted that historically we have budgeted <br />the levy revenue below 100%. This year as welt as next year, the tevy revenue has been <br />conservatively budgeted at 95% in anticipation of tax petitions or any other shortfall. If <br />collection is higher than anticipated, it will offset any other revenue shortfall or provide <br />the opportunity to fund unanticipated projects or expenditures. <br />. Salary adjustments as part of COLA/steps have been budgeted at 3%. <br />. City contribution to healthldentat benefits for non-bargaining staff has been increased to <br />$533/employee, City contribution to the bargaining unit emptoyces has been increased to <br />S450/emptoyee. <br />. All technology upgrades, including the purchase of a copier have been budgeted as <br />previously discussed by the Council. <br />. Construction and road maintenance costs (PMP) were reviewed by staff and the Engineer <br />and have been reduced and deferred to future years, Two projects that were plamled for <br />2005, namely repainting of the water tower and SCADA have been deferred pending <br />further analysis. This reduction amounts to $710,000. <br />
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