Annual_Budget_1974_001 - Laserfiche WebLink

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Expenditures �stimated expenditures are $6,744,724e which is a 1.So increase over the ].973 Budget. In dollars, this is an incr.ease of $104,OOI over the 1973 Budget. The increase is the smaYlest increase in the past five years and reflects the sta£f's determination to hold-the-line during Budget year 1974. The primary reasons for any increases are increasing expenditures in Municipal Liquox, which are offset by revenues, and increasing costs to the City for employee benefits such as retiirement and insurance. Debt Redemption Part of the reason we are able to reduce taxes and hold expenditures to a 7..5� rise is because i.n 1974 we will have a slight reduction in the levy required to support debt retirement. The 1974 deb� levy of $711,159 is $37,706 iess than that required in 1973. TaY levy makes up 34.90 of the $2,038,209 required for bond payments in 1974. The balance of $1,327,050 is made up of $793,644 of special assessments payable in 1974, and $533,406 in prepayments and interest earned on prepayments. Capital Outlay Capital Outlay in the 1974 Budget is listed in detail in the Central Services Budget. Total capital outlay, including $100,000 for park development is $236,015. Of the $136,015 of non park cap'stal outlay, $41a450 occurs in the public enterprise funds. Gener�al fund capital ou'tlay of $94,565 is partially financed by the use of $24,785 from accumulated depreciation, leaving a balance of $69,780 to be raised from other sources. The major items of capital outlay are: l. Eleven partabl 2. Fifty-one home 3. Twelve opticom 4. Improvements t Personnel e pack sets for the Police Department $11,000 radio receivers for �he Fire Department 9,100 semaphore sensitizers for Police and Fire 6,780 o the Hamline liquor s�ore 7,500 I am requesting two additional pasitians in the 1974 Budget. Far the past year we have assigned one street division employee tio �fie m�icipal garage giving us two mechanics. This has shorted us in the s-treet divisian. I recoimnend that one additional position in the s�reet division be established. Wer the past three years we have transferred o£ficers from the patrol division of the Police Department to other activit3es, most notably ihe juvenile division. In order to bring the patrol division back to its 1970 1eve1 of manning, I recorcenend the establsshment of one police �aa�rol position. Federal Revenue Sharing As of this date the City has a balance of $208,833 in Federal Revenue Sharing funds on hand. Through the Federal year ending 6-30-74 the City should receive an additional. $164,203 for a projected balance of $373,036, The Council has set a first priority use of these funds for site acquisition and construction of Fire Station No. 3. St is estimated that total costs will be close to $300,000. The 1974 operating Budget does noY consider Federal Revenue Sharing in revenue or expenditure projections.