Agenda Packet Cc - special meeting 9/27/1989

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92089.3 COUNCIL MEETING TO: Mayor and City Council FROM: Mark E. Bernhardson, Cite AdministratSEP271989 DATE: September 20, 1989 CITY OF ORONO SUBJECT: 1990 Budget Attachment: A. Commentary to 1990 Budget Guidelines ISSUE - 1. Reminder of preliminary Budget discussion meeting 6:00 P.M. WEDNESDAY, SEPTEMBER 27, 1989 (Please bring this memo and attachments plus 1990 Proposed Budget document. Box lunches will be provided.) 2. Presentation of additional information for that meeting. INTRODUCTION - Attachment A provides commentary as to the relation of initial budget guidelines to the proposed budget plus comments on selected division budgets. DISCUSSION - The proposed budget levies the maximum allowed under the general fund levy limits. The overall increase in property taxes for the City's budget is 6.1%. As the City receives a' -,out 10% of the overall property tax a person pays, a person could calculate their increase caused by this proposed budget by multiplying their 1989 property tax bill (less any special assessments) by 1/10 of 1% (.6%). This represents about a $6 increast for each $1,000 of property tax paid (i.e. a $3,000 tax bill would see an $18/year increase.) Each $10,000 reduction in property tax in the budget would translate to about 72¢/$1000 of taxes paid. Failure to levy the general fund levy limit maximum may preclude the City from levying the unlevyed amount in the future. New additions to the budget this year include: a.) Revenue projections for all funds (pgs IV -VI) b.) Two new divisions in the General Fund - Recycling Reimbursables from development (Private Imprcvements) RECOMMENDATION - It is recommended the Council accept the information presented, PROPOSED MOTION - Moved by , seconded by the Orono Council accepts the information in advance of its meeting at 6 P.M., Wednesday, September 27, 1989. Ayes _, Nays _ 1