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balance of $550,000. This represents a 14.3$ <br />increase over the 1989 budget. The revenue <br />projections reflect $342,800 in new revenue <br />attributable to $20,700 from a .2 mill property <br />tax increase, $210,000 for a full year of use <br />taxes, and $112,100 in additional user fees <br />associated with the new Recreation Center. The <br />City's assessed valuation will be adjusted from <br />$117,054,530 to $123,311,160, which is an <br />increase of $6,256,730. The majority of this <br />increase is realized from new development <br />activity. Colorado STate Statutes allow for an <br />increase in property tax revenue of 5.5$, <br />excluding new development. This increase has <br />been included in the revenue calculations. The <br />City's mill levy is proposed to increase from <br />5.671 mills to 5.839 mills. General Fund sales <br />tax collections for 1990 are targeted to be <br />$920,000 or 2$ higher than 1989 estimates. The <br />City's Sales Tax continues to be the "major <br />source" in funding the General Fund. <br />The major objective of City Council was to <br />decrease the General Fund's dependency on <br />growth related revenues. The 1990 budget <br />reflects the accomplishments of that objective <br />by allocating all the service expansion fees <br />derived from new residential development to the <br />Combined Capital Funds. <br />The 1990 General Fund expenditures are project <br />at $4,224,855. This is a 27~ increase or <br />$902,720 more than the 1989 budget and includes <br />$211,000 for the continuation of city services <br />at the current level, elevates the Drafting <br />Technician to full-time, and centralizes <br />cashiering with the addition of a full-time <br />cashier/clerk, allocates $102,000 for the <br />replacement of capital equipment, which was <br />previously budgeted for in the Combined Capital <br />Fund, allocates over $430,000 for a higher <br />level of service to the community with the <br />addition of the new Recreation Center and <br />Public Library, and the 1990 budget allocates <br />the necessary funds for Personal Services. <br />Asti-Caranci stated that the staff represents <br />the City organization and is the backbone of <br />services providing the continuity and contact <br />with residents. Included are funds for a 2.5~ <br />cost of living allowance for all employees, a <br />salary range adjustment for specific positions, <br />and monies for merit increases to be awarded to <br />employees based on their individual <br />performance. <br />5 <br />