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<br />DATE: J / 8 !:-
<br />Item, Dellis cripit ion Proposed 1986 Budget, Uses of Revenue Sharing
<br />Funds, and 1986-1990 Capital Improvements
<br />At the, August 26, 1,985 Council Meet,ing,,i the Proposed 1986 Budget
<br />and uses of General Revenue Shiari'ng Funds,, and the 1986-1990
<br />Capital Improvement Program were prelsentled, The proposed budget
<br />was reviewed at a Council, Work Session on August 19.
<br />The prolploselid budget calls for expenditures of $13,,243,147,, which
<br />i is an, increase of' $1,,019,A47, or 8.34 percent over 1985,, The tax
<br />levy needed to finance this budget is $4,587,136, an increase of
<br />$1461,201, or, 31,,.29 percent over 19815. This results in a mi
<br />of' 13-51 mills, an 'increase of .37 m,10,11 or 2.8 percent over 1985,
<br />t Ill
<br />This levy is within the levy limita i,on, per State Statutes.
<br />The 1986 Budget will have a zero impact on the taxes of Rosevill,.
<br />h,om,eolwners. This is due to three factors,.,
<br />The increasies in the levy requirements and the mill, rate ar(.it-
<br />2. The homestead credit has i*ncreased from $650 to $7009
<br />31, A,ch,ange "in the method of calculating assessed- value has
<br />bleinefitted, higher valued homes i
<br />The proposed uses of 1986 General Revenue Sharing Funds are as
<br />below,, and total $150,,000.
<br />It 'Is also recommendied General Revenue Sharing Funds from prior
<br />years be authorized 'in, the amount of �$9�01,200 for expenditure in
<br />1985. The proposed uses are as inaicated below.
<br />'The 1986-1990 Capital Improvement Program 'is also presented for
<br />aidolpition. The new' Fivie Year Program doles not include any new
<br />programs, The updates only pertai,n to years and costs.
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