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j ' r T `'��-l_\l�V\..p�.�...�:.� �� <br /> TO: Mayor McMillan and Council Members <br /> FROM: Ron Olson, Finance Director <br /> DATE: July 22, 2013 <br /> SUBJECT: 2014 Budget <br /> Attachments: <br /> A.Revenues <br /> B. Expenditures <br /> C. Septic Permits 2012/2013 <br /> D.2004 Arbitration Award <br /> E. 2006 Arbitration Award <br /> F. Westonka History Museum Letter <br /> G.Wage History <br /> H.Debt Service Levy <br /> I. Operating Budget Forms <br /> J. What If Forms <br /> K.Council Goals <br /> L. June Budget Memo <br /> The draft 2014 budget reflects an effort to address current operating needs during an extended period in <br /> which traditional revenue sources have been flat or decreasing. Inflation, while increasing at the <br /> relatively low rate of 1.8%(June 2012—2013)does impact the city's ability to maintain service levels <br /> while keeping taxes flat. Revenues and additional expenditures related to the new Mediacom franchise <br /> agreement are not included in the current draft budget. Once the expenditures are better understood, <br /> they will be added to a new department in the General Fund. Because the revenues will exceed the <br /> expenditures, the additional expenditures will not impact the tax levy. <br /> Revenue <br /> The General Fund revenue budget as presented has not increased from the 2013 budget. While the <br /> overall revenue budget is flat, there were line items that changed significantly. A summary of the <br /> changes can be found in the revenue portion of the Major Budget Impacts table that is included with the <br /> revenue information. <br /> At this time, the revenue budget has been prepared with no increase in the property tax levy. If the <br /> adopted budget includes a 0% increase in the levy, it will be the 3�d consecutive year without an <br /> increase. As a result of action taken by the 2013 Legislature, the maximum amount that the tax levy <br /> could increase would be 3% which is $118,390. <br />