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HomeMy WebLinkAbout3. Discussion of 1994 Operating Budget and CIP e i CITY OF RQSEMOUNT EXECUTIVE StJ�IARY FOR ACTION � CITY COUNCIL MEETING DATE;August 16 1993 � AGENDA ITEM:1994 Operating and CIP Budgets AGENDA SEGTIflN: Ol.d Business PREPARED BY:Stephan Ji1k AGEND�i NO. ATTAC�NTS: Sudget Information Summary Sheet AP OVE BY. I have been working with staff to revise the proposed 1994 operating budget per the discussion and direction given by the Council on July 26 at our budget workshop. Specifically what has been done is to revise certain departmental budgets to emphasize street ma.intenance and repairs and reduce the amount spent on proposed Parks and Recreation operations. We have also been able to establish preliminary costs of our debt service payments far 1994 and to establish a maximum levy of 10% inerease over 1993 . The l0o is the maximum that I understood you to say you would consider. The increase in tax levy shown reflects a decrease but this amount, far 1994, reflects the HACA and Fiscal Disparities Aids removed. That is why the number is a negative even though there would be a 10% increase in overall levy before the credits are deducted. In reviewing the eurrent internal (non tax and state aids) revenue generated for 1993 the revenue sources estima.ted for 1994 must be reconsidered. The estimates must be lowered. Sy making the appropriate adjustments and estimating the effects of state aids and HACA {Homestead Credit Payments) under the new distribution formula we come up with new income for 1994 of only $78, 000 . This leaves no money for CIP funding in 1994 using the revised 1994 operating budget amounts as presented. ` We can review options for funding of CIQ items in 1994 . Please review the summary sheet of the operating budgets for the revised figures and the changes in CIP and levy amounts. We will be prepared to discuss the draft of the budget with you on Monday and provide additional detail for your cansideration. RECOI�Il+2ENDED ACTION:None COUNCIL ACTION: . , t Paq�1Vo � . . � � . .. . � Sapta�bar 15.� 1993 � �. POND2NG RYQUTA�iT3 �� � � � � 1993 11DOPT� 1994 PAOPOS� +/' . � . � . . . � DEP1�itTIBNTB EVDfiYT . � BIIDGST DIF88H�SCS P$&C@iTl�6E � � Council Sudg�t � � 5166,747 $136,807 (529,940) -17�.96t � , � �IWaiai�tratloa Sudgat � � � 5224.606 $234.637 � 510.029 � 4.473 � . � � •••garged rith�Clarky•• � � . � � . . � . Hlectioa HudgaG ;7,615 i10,470� � 52,955 �38.80} . . � Fiaanca Sudg�t � � � � ;140,115 5146�496 sa,sai 5.9l� � � � � Gaaasal Covera�eat Hndget � � 5156,50G � S1l��,.550 ;2l,O50 � 17.92'�k . . � � . . � � � � � �8laaaing Eudqet . �� $157,982 .5165,031 . �5�.049 4.46} � � � . Govaxnmaat Suildiags Sudget .. � .$72.600 � 574.778 . � S2,S78 � :;.00� . � � .. . � Po11ca 8udgat ��$79f,T06 � $911,441 5116,735 .14.69� � � � Fira:Departmaat Budget � � � 8160,18] � � 5166,758 � 56,576 �� 4.ilk . . � . � Publie llorks Operatiag Hudqet 5720>036� � . 5817,883 � $97,d45 �13.59k � . � � . � . �Pavad Str�eta�8udgaC � i83.649 598.098 � Si5,t49 18.69� � . � � � � . . � . . . II�avad 8traats Hudg�t � 533.2�8 . .��557,951 . ��$35.673 �T9,S4k� . � � . � � . IN 4 Saor 8udg�t � f17,413 . $20,413 . 53.000 . �17.23t . � � � . � Str�et Liqhts Hudgat �564,294 566,27! . � 51,930 3.00+k � � � � . Signal.Lights Hudgat � $6,391 57.201 . 5�10 3.00� � � -� � � Yark o A�c Sudqet-Geaenl Operatiag 5511,915 � 5590,492 � $68,577 13.14} � � � � � �Park E Rac Sudgat-Reveaun Producing 5101,000 $101,400 � SO 0.00} . . � . � . � Ia�uraaca Hudget S15D,000 � 5188,000 $30,000 18.99k � � TOTIIL�OFSAIITZN6 SDDOBTS $3,565,633 53,980,330 $394,697 11.Oit � . � � � Fiva i5) Year CIP&equirament . �5171,450 � � SO Y$271,460) -100.00} � � � � � � aetir�entfSevaranca Puad i304 � 560.000 (527.79T) (587.797) -146.33+k . . .� . . � � . � . •�To Hiiaq Total Go�80k • . . . � � �� . . . � � - Hoadad Indabtednur �Si36,887 � 5379,4l7 � (857,440) -13.154 � � -� � . � . •O! 1994's, f103.,877 tor C�Caater• � � . . . � � � � . Cartiiicates o! Indsbtodna�s � � . 550,054 f48,290 .. (p1,764) � ($D) . � � � �. . . ��. Asmory Laticipatory Levy � � . 91]5,324 � 5127,131 ;1,802 1.44t � . � � . � . � �•$95,OOp + (5402,639,OODx.00798}j+ � � . � � � � . � . (Value as ai 3/31/93) """'."""""^"""'-"'-"-""""'-""""'-" � . . � . . . . TOT71b PQNDIIiO ABQIII.RID�iTS .$4.i29.363� �¢4.507.401 � ST8.0�8 1.76t � � .. . � �� � � � �. i i i . � Yagw Ona � � . . � � . . . . �� . � Septembar 15. 1993 � � RHV�iOE SOIIACYS � . � � . . . 1993 JIDOPTSD 1994. YkOP09=D �� � s/- . . � � ' sxras sonart saucar axarsanacs ra�ec�s�c= Local c3ovazmant AiQ S29b.512 � 8380.794 584.l82 � 25.43� � . . (Znclud�s iqualisatioa 7�.14 tor 1994) � � � � . . . � � � �� Ho�estaad i ngricultural Cr�Cit J11d N/II � . 3555,804 $SSS,H04 N/1� � . � � Iaternal Anvauua G�aerated: � � � . � � . Licaaau and P�rait� � $238,i50 ;248,Q40 . 59.700 4.06+k � . � � �Iatergovarnmantal $165.000 � ¢172,000 � . ;7.000 4.3�} . � � � . �� . Charger.toz Servicu Sf19,800 5368,0]S �tt61,775) -14.37k � � � . � � Pin�s aad lorf�its 542.000 .540,000 (t2,000) -4.76i . . Yscrutionsi Faas � � §101,000 ¢101�,OIYO � .30� 0.004� � � � �� � . � � Yiacellanwus Aev�aw� $ST.S00 =SS J60 . ($1.730) -2.l9t . � . � . .. . . � � nan,s.=. x� Sias,000 tss,000 talso,000� -ai.oet � � Total Zaternal Reveauas $1,219,450 � .51,030,655 (5198,795) . -16.30t � � � � � . � . Lavy SourCes: � . . . � � . . . Syaeial Lavie� �$612,370 555�,868 �� l557,403) •9.38} � � � � Oeaaral�Lsvy 57.3�1,131 51,945,280 (5305,851) -13.294� � � � � �Total L�vy ¢2,913,401 $2,540,148 (f363,253} -12.�7} � . � � 'PDTIS. RYVII7VX SOVACi3 54.429.363 j4.507.401 i78.036 i.76� � . . � . COMPARISON OF ASSESSMENTS MUNICIPALITY: �����%��� - KEAL ESTATE -- FINAL 19 `'�c� REAL ESTATE -- VALUES AS OF � � FOR 19�� LE IN � � �� /�� PAYAB % � � � � 'ESTIMATED MARKET VALUE -- ESTIMATED 1�FARKET YALUE -- Land $� Land $ /l.� ��i��� Improvements $ �G''�.'-� Improvements $�,�,��•'�pi`5� Total Market: $s��,�2���� Tota l Market: $ ��r'.�,�� --- ------ -- u��� 33�s d J J � �'I— �Ct 3 �S S Real Estate -- Real Estate C«•��y�� Net Tax Capacity: $ � ��J_����sPQ Net Tax Capacity: $ A, �Do� ��� --1�- / L Personal Property -- Personal Property -- Net Tax Capacity: $ � � Net Tax Capacity: $ ���� TOTAL NET TAX � TOTAL NET TAX CAPACITY s 19� $ � CAPACITY: 19�� $ -������� -1���:�l_�� � s,s�ya ` , 9� Remarks: ESTIMATED MARKET VALUE FOR l� I g /�� ���'9�$1 GREATER THAN FINAL � FOR ��� �/`� • � . _ � � G�r.�v��,�.z� � '��'� . ,����w ��,LZ , � . � � � a�' 9��; oc�c� � y y ��� � �Ir� w����--�` � . /.2��.� ��-�. 013 001 � SPREAD LEVi'COMPUTATIONAL WORKSFiEET t 1992 1993 1994 Total Funding Requirements 4,061,064 4,429,363 4,507,401 Less:Internal Revenues 1,025,092 1,219,450 1,020,655 ---------------- ---------------- ---------------- Equals:Revenues Needed 3,035,972 3,209,913 3,486,�46 (City Adjustments-Subtractions) Local Government Aid(LGA) 287,859 296,512 380,794 Homestead&Agricultural Credit Aid(FiACA) N!A NIA 555,804 Levy Certified by City to Caunty Auditor 2,748,113 2,913,401 2,550,148 (County Auditor Adjustments-Subtractions) Fiscal Disparities Distribution Levy(Metro Area) 310,034 302,808 302,808 Certified Aomestead&Agricultural Credit Aid(I-IACA) 448,063 484,865 s* N/A Equalization Aid ��,�A, 82,692 82,692 N/A Disparity Reduction Aid N/A N/A N/A Spread Levy(LTsed to Compute Local Tax Rate) 1,907,324 2,043,036 2,247,340 Increase from Previous Year in Spread Levy 7.12% 10.00�'0 ,�.�a�e �z.z 7a *$484,865 used for 1993 Budget process-Actuai 1993 Certified HACA is$525,257(Notice never given to us) (Using the Certifed amount changes the Spread Levy to a 12.22%Increase)