Laserfiche WebLink
21 2013 Preliminary Tax Levy <br />22 The preliminary tax levy for 2013 is $17,319,826, an increase of $2,357,532 or 15.8 %. Much of the <br />23 increase can be attributable to prior Council decisions or contractual obligations. The increase can be <br />24 categorized as follows: <br />25 <br />26 <br />Pre - existing Obligations <br />Description <br />Amount <br />Debt service on Park Renewal bonds <br />$980,000 <br />Debt service on Fire Station bonds <br />670,000 <br />Police and Fire Dispatch <br />31,611 <br />Fire Relief Pension Obligation <br />45,000 <br />Inflationary increases on supplies, maintenance etc. <br />64,084 <br />Total <br />$1,726,611 <br />27 <br />28 Items included in the Original 2012 /2013 Biennial Budget <br />2s <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />Description <br />Amount <br />Employee 2% COLA <br />110,000 <br />Employee Wage Step increases <br />105,000 <br />Employee pension contributions <br />21,837 <br />Healthcare Premium increases <br />55,000 <br />Inflationary increases on supplies, maintenance etc. <br />64,084 <br />Total <br />$ 355,921 <br />CIP Subcommittee Recommended Items <br />Description <br />Amount <br />Equipment r lacement <br />85,000 <br />IT Equipment lacement <br />75,000 <br />Street Light replacement <br />25 000 <br />Total <br />$ 90,000 <br />Total <br />$185,000 <br />New Considerations <br />Description <br />Amount <br />Human Resources Information System <br />40,000 <br />Implement Compensation Study results <br />50,000 <br />Total <br />$ 90,000 <br />36 <br />37 Based on the preliminary tax levy, a median- valued home would pay $5.18 per month more in 2013 than <br />38 they did in 2012. Each of these categories was reviewed in greater detail in the form of decision packages <br />39 at the October 15, 2012 Council meeting. <br />40 <br />41 For each $100,000 reduction in the tax levy increase, there will be a savings of $0.41 per month for a <br />42 median- valued home. <br />43 <br />44 The Council has also adopted a preliminary HRA Levy of $698,471, an increase of $344,971. This is <br />45 expected to have an added impact of $1.28 per month for a median- valued home. <br />46 2013 Preliminary Budget <br />Page 2 of 4 <br />