2005-08-03 WS Packet - Laserfiche WebLink

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City of Centerville NalTBtive for 2006 Proposed Budget July 28, 2005 Attached Is the first draft of the Year 2006 General Fund Budget for the Cty of Centervllle. This report Is Intended to disclose all assumptions used In calculating the proposed budget and explain any Significant variances from last year. The following assumptions were made in calculating the draft budget: Revenues: TaxLevv The general tax levy was Increased by $51,000 for additional spending (3% Im;rease) and $84,431 to recover a loss In property taxes because of the legislative cut to Market Value Homestead Credit. At this proposed levy amount, initial tax capacity figures indicate that a tax rate decrease of 70/0 will occur resulting in the tax rate declining from 52.841 to 49.132. If Coundl desires to Increase or decrease the proposed tax levy amount, adjustments can be made to other areas of the budget to compensate. Local Government Aid The dty will receive $22,064 In local government aid In 2006. Anob County CommunitY DeveloDment Block Grant Funds (CDBGl The city will receive an additional $200,000 In CDBG funds to assist In the redevelopment of "East Block 7" In 2006. Ucenses and Permits Ucenses and Permits revenues will be remain stable with the antldpated development of Hunters Crossing and the Pheasant Marsh Addition that should be under construction this year. Fines and Forfeits Rnes and forfeits have been reduced to reflect the downward trend. Expenditures: Salaries and Benefits The following assumptions were made In calculating salaries and benefits for the 2006 budget All percentages can easily be adjusted on the attached spreadsheets: ~ 3% structure increase (COLA); ~ 4% step Increase for eligible employees; ~ A legislative mandated Increase contribution rate to PERA; ~ The budget reflects additional salary for part time help in Public Works and Administration (document scanning); ~ Allocations were changed to more accurately reflect actual time spent, resulting In slight differences In distributions across departments; ~ OVertime was calculated at 5% of the annual salary for the two existing Public Works employees; ~ $77 per employee per month Increase In health Insurance contribution, In accordance with the union contract. Insurance rates are expected to rise by 10% - 15% In January 2006.