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MEMORANDUM <br />To: Mayor Walsh and Orono City Council <br />From: Danielle Amira, Interim Finance Director & Ron Olson, Finance Director <br />Subject: 2018 Budget <br />Date: August 28, 2017 <br />Attachments: <br />A) Revenue Budget <br />B) Health Care Coverage Breakdown <br />C) General Fund/Tax Levy Statistics <br />D) Expenditure Budget <br />E) 2018 Local Levy <br />F) Levy Effect 2018 <br />G) Moody's Investors Report <br />H) Fund Balance Summary <br />I) Taxes Collected 2016 & 2017 <br />J) Orono Taxable Market Values <br />K) Comp Plan Budget Explanation <br />L) 2017 Annual Lake Area Wage and Benefit Survey <br />M) Sgt -Deputy Chief Wage Summary 2014-2017 <br />N) Budget Process Timeline <br />This is the third budget work -session for the 2018 budget. By law, the preliminary budget and <br />tax levy must be adopted by September 30th. Based on the Council's input at tonight's work <br />session, the preliminary budget will be updated and presented to the public at the September 11th <br />meeting. The preliminary budget and tax levy will be adopted at the September 25th meeting. <br />Expenditures <br />The draft expenditure budget has been updated from the budget presented in at the last work <br />session, two weeks ago. The biggest change ($45,811) was removed for the Code enforcement <br />position in Planning & Zoning department. The contingency line item was reduced to $25,000. <br />These were done based on the Council's direction at the August 14th work session. The Police <br />Budget was increased by $13,032 to reflect a wage increase for the Chief ($7,119) and Deputy <br />Chief ($5,913), as discussed at the last work session. Additionally the Police training line was <br />increased to cover new training requirements. However that would be offset by additional <br />revenue for Police Training Reimbursement now up to $23,000 from $10,000. Other items of <br />note, switching from the Wayzata Fire service to Long Lake there was a savings of $7,000, <br />bringing the 2018 total to $390,000. There are some additional minor changes to other line items <br />like assessing services as final numbers became available. The current budget represents an <br />increase of $259,037 (3.24%) over the 2017 expenditure budget. <br />2018 Budget — Page 1 <br />