2004-12-20 CC Packet - Laserfiche WebLink

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. City of Centerville ' Narrative for 2005 Proposed Budget July 14, 2004 Attached is the first draft of the Year 2005 General Fund Budget for the City of Centerville. This report is intended to disclose all assumptions lised in calculating the proposed budget and explain any significant variances from last year. Th~ following assumptions were made In calculating the draft budget: Revenues: Tax Levv The general tax levy was increased by $46,671, or 3.0%, over last year. Tax capacity information from Anob County is not yet available; however, it is expected that the net tax capacity of the city will increase more than the amount necessary to accommodate a 3% tax levy increase. If council desires to increase or decrease the proposed tax levy amount, adjus1ments can be made to other areas of the budget to compensate. Licenses and Permits Licenses and Permits revenues were decreased to reflect a downward trend. Building permit revenues are below budget for the year because it was anticipated that the third Phase of the Pheasant Marsh Addition would be under construction this year. Also, development on The Shores and Peltier Preserve projects is not progressing as quickly as anticipated. Expenditures: Salaries and Benefits The following assumptions were made in calculating salaries and benefits for the 2005 budget. All percentages can easily be adjusted on the attached spreadsheets: > 3% structure increase (COLA); > 4% step increase for eligible employees; > The budget continues to reflect one additional Public Works employee; > AllocatioD:S were changed to more accurately reflect actual time spent, resulting in s~ght differerices in dis1ributions across departments; ~~-ealeulated-at~5%-=ofthe-a.1)nuatsalatyfor-'ttre=fWo-- existing Public Works employees and 2.5% for the PW Director. Less overtime is 'anticipated due to the addition of an employee; > '$70 per employee per month increase"in health insurance contri1?ution, in accordance with,the union contract I'nsurance rates are expected to rise by 10% - 15% in January ~005.