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<br />1 <br /> <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />50 <br /> <br />Budget Notes <br />09/12/07 <br /> <br />Proposed tax rate of .56 consisting of: <br />M&O .46526 <br />Debt .09474 <br /> <br />$439,355 reduction needed to offset the decrease in the tax rate. That amount was achieved by <br />the following reductions. <br /> <br />01-1002-31-99 $13,000 (2 vehicle video systems) <br />01-1008- 31-99 $18,000 (primary radio channel repeater) <br />01-0101-31-00 $81,194 (delete Felony Crimes officers) <br />01-1002-32-99 $13,677 (Holmatro cutter and primary radio channel repeater) <br />01-0328-40-00 $20,000 (demolition) <br />01-0502-46-00 $20,000 (maintenance of equipment) <br />01-0801-46-97 $60,000 (ROW 271 South) <br />01-0901-49-98 $16,000 (car wash bay at garage) <br />01-1002-54-99 $42,000 (power stretchers) <br />01-1011-54-99 $25,500 (rehab defibrilators) <br />01-0508-xx-00 $145,500 (lease-purchase payment on items now bought out of surplus. <br /> <br />The revised current tax revenue (account 01-7010) is $6,207,127. <br /> <br />Total General Fund Surplus in excess of 25% reserve <br />Proposed uses of surplus: <br />$436,504 to purchase capital items originally intended <br />for lease-purchase in the 07-08 budget. <br />$578,051 for payoff of current general fund pOliion of <br />lease-purchase agreement with Liberty National Bank. <br />$188,177 to purchase capital items in the 07-08 General <br />Fund budget. <br />Capital Replacement Fund <br />Remaining Surplus <br /> <br />$2,209,077 <br /> <br />-$ 1 ,202,732 <br />-$1,006,345 <br />$ 0 <br /> <br />There is $50,000 of the Liberty National Bank lease-purchase agreement (in addition to the <br />General Fund amount above) related to the Water & Sewer Fund. <br /> <br />Plus there is $193,200 in Water & Sewer Fund capital items that are scheduled to be lease- <br />purchased in the proposed 07-08 budget. <br /> <br />The Council wanted a total increase of $466,898 budgeted in the Water & Sewer Fund for line <br />replacements. The proposed budget had $333,000 in proposed increases leaving an additional <br />$133,898 to be funded. That funding is being obtained by reducing the following accounts. <br /> <br />10-1002-86-99 $50,000 (backhoe) <br />1 0-0508-87-00 $ 8,500 (duplication oflease payment & capital purchase) <br />10-021 1 -82-00 $ 5,500 (chemicals) <br />10-0308-87-00 $ 4,898 (electricity) <br />10-0402-82-00 $65,000 (bridge in rear of WTP) <br />Exhibit "A" <br />