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<br />City of Centerville <br />Narrative for 2008 Proposed Budget <br />September 12, 2008 <br /> <br />Attached is the proposed Year 2008 General Fund Budget for the City of Centerville. This report is <br />intended to disclose all assumptions used in calculating the proposed budget and explain any significant <br />variances from last year. <br /> <br />The following assumptions were made in calculating the proposed budget: <br /> <br />Revenues: <br /> <br />Tax levy <br />The general tax levy was increased by $69,700 for additional spending which is an increase of 3.55% . <br />At this proposed levy amount, estimated tax capacity figures indicate that a tax rate will not change from <br />45.74 in 2008. This tax capacity is based on updated county data that enumerated a <br />increase in the city's tax capacity and an decrease in the city's contribution to area wide <br />spending. <br /> <br />local Government Aid <br />The city will receive $22,900 in local government aid in 2008. In 2007, the city received $23,560. <br /> <br />licenses and Permits <br />Licenses and Permits revenues will decline slightly because of a change in the housing market. <br /> <br />Fines and Forfeits <br />Fines and forfeits have been stable. <br /> <br />Interest EarninQs <br />Interest earnings will decline because of a smaller investment portfolio. <br /> <br />Assessments <br />Assessment receipts will decline in 2008 because of fewer assessment receivables. <br /> <br />Expenditures: <br /> <br />Salaries and Benefits <br />The following assumptions were made in calculating salaries and benefits for the 2008 budget: <br /> <br />+ 3% structure increase (COLA); <br />+ 4% step increase for eligible employees; <br />+ A legislative mandated increased employer contribution rate to PERA; <br />+ The budget reflects additional salary for part time help in Public Works <br />+ Allocations were changed to more accurately reflect actual time spent, resulting <br />in slight differences in distributions across departments; <br />+ Overtime was calculated at 5% of the annual salary for the three existing Public <br />Works employees; <br />+ $70 per employee .per month increase in health insurance contribution, in <br />accordance with the union contract. Insurance rates are expected to rise by 9- <br />12 % in January 2008 <br /> <br />Police Administration <br />The 2008 budget amount of $704,000 from the Centennial Lakes Police Department is reflected <br />in the budget. This is an increase of 8.47%. <br />