2004 Approved Budget - Laserfiche WebLink

Home

City of Roseville — 2004 Budget Discussion Items Funding sources for the City's governmental fund operations have remained fairly stable with two notable exceptions. Beginning in 2002, a number of tax increment financing (TIF) districts were decertified, returning tax base to the general tax rolls. The City's tax levy increased substantially in 2002, to offset the loss in state -aid. In 2004, the tax levy was increased to accommodate the debt service on voter - approved bonds issued in 2003. Absent additional voter - approved levies, the City expects future levy increases to be at or below the local inflation rate. In addition, the City expects to collect additional interest earnings in conjunction with an improving economy. The City's funding uses have continued to emphasize the core functions of public safety and public works. Spending increases in these areas have been offset by reductions in general administrative and internal service functions. Beginning in 2003, Park Maintenance costs were re- categorized as a special purpose function to distinguish between recreation programs and facilities. Finally, the City's debt service payments dropped dramatically in 2003 due to the early retirement of improvement bonds issued in the early 90's. The City expects spending increases within the governmental funds to remain near the local inflation rate for the foreseeable future. Fund Balance levels are expected to decline by approximately $1.5 million over the next two years, reflecting the City's decision to use reserves for capital improvements. 16