|
Enterprise Operations includes waters sanitary sewer, storm drainage, solid waste recycling,
<br />and the municipal golf course. An increase is needed to provide for a 3% COLA, a 12% increase
<br />in health/dental premiums, scheduled capital replacement costs, and 2�-5 �% o increases from bulk
<br />water purchases and wastewater treatment costs.
<br />Debt Service includes the principal and interest paid on bonds used to finance infrastructure
<br />improvement projects. The decrease in debt service costs will result due to the defeasance of
<br />bond issues in 2001 and 2002.
<br />TIT Pay -as- you -Go refers to tax increment paid to developers as specified in Tax Increment
<br />Financing (TIF) agreements between the City and various developers. The decrease in TIF pay -
<br />as- you -go, will result due to the termination of various developer agreements for which all city
<br />obligations have been met.
<br />Trust Operations includes endowment funds used to offset general taxes, and to maintain a
<br />cemetery. The increase signifies a higher use of reserves to support current operations. The
<br />reserves being used represent multiple years of interest earnings. The principle endowment
<br />remains intact.
<br />Funding Sources
<br />The following table summarizes the funding sources for the 2003 Proposed Budget.
<br />Proper Taxes
<br />100-1
<br />$8,922,884
<br />$ 8,827,884
<br />Inci-ease
<br />$(959000)
<br />1
<br />Qix -case
<br />hici
<br />Tax Increments
<br />810009000
<br />25770,470
<br />(51;-229,530)
<br />65.4 %
<br />Special Assessments
<br />900,000
<br />1,750,000
<br />850,000
<br />94.4%
<br />Intergovernmental Rev.
<br />1,454,282
<br />11697,110
<br />2429828
<br />14.3%
<br />Licenses & Permits
<br />11693,900
<br />19927,500
<br />233,600
<br />12.1%
<br />Char es for Services
<br />11,447,089
<br />119504,265
<br />57,176
<br />0.5%
<br />Fines & Forfeits
<br />19000
<br />222,400
<br />329400
<br />14.6%
<br />Interest Earnin s
<br />2,2899667
<br />29025,700
<br />(263,967)
<br />(1,3.0)%
<br />Other Revenues
<br />29486,896
<br />1,566,460
<br />(9205,436)
<br />(37-0)%
<br />Use of Reserves
<br />704,756
<br />2,368,436
<br />13,6631,680
<br />68.9%
<br />Total
<br />$ 381089,474
<br />$ 345,6605,225
<br />$ (3,4299249)l
<br />(9.9)%]
<br />Property Taxes include taxes levied against taxable property. A small decrease in property
<br />taxes is expected due to the reduction in tax levy funding for pathway construction.
<br />Tax Increments include anticipated tax increments collected and remitted to developers as
<br />specified in TIF agreements. The decrease in TIF pay -as- you -go, will result due to the
<br />termination of various developer agreements for which all city obligations have been met.
<br />Special Assessments include assessments levied against benefiting properties for various
<br />r
<br />infrastructure improvements. Budgeted prepaid assessments have been increased to reflect
<br />current trends.
<br />Z]
<br />
|