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Page 2 <br />September 15, 1987 <br />4) No tax increases are proposed other than the 5.5% <br />allowed by State Statute, all of which will be used for <br />the City's Capital Improvements Program. <br />5) No increases proposed in the City's user fees such as <br />water and sewer. <br />6) The 1988 Budget includes no increase in development <br />fees such as water taps, sewer taps, service expansion <br />fees, etc. <br />7) The 1988 Budget includes an increasing tax dollar <br />commitment as opposed to growth fees into the City's <br />Capital Improvements Program. In 1988, $48,920 <br />(8 1/4%) will go towards Capital Improvements. This <br />compares with only 2% in 1987. <br />8) The 1988 Budget includes a Contingency Fund of <br />$203,211 - over $40,000 more than in the previous <br />3 years. <br />9) Employee salary increases totalling 3 1/2 percent - an <br />increase that exceeds that of most Denver Metro <br />communities. <br />10) The funding of $16,341 in Discretionary Requests. <br />11) A sizable Capital Improvements Program with an <br />increasing reliance on property taxes and a decreasing <br />reliance on growth fees and lease -purchase financing. <br />Rey projects to be undertaken in 1988 include: <br />a) Completion of lease -purchase payments for the <br />new City Shops <br />b) Reconstructing and resurfacing Hutchinson <br />Street <br />c) Completion of landscaping improvements in <br />various locations throughout the City <br />d) Installation of an irrigation system at Pirates <br />Park <br />e) Continuation of the City's new sidewalk and <br />replacement programs <br />f) Cash purchase of needed equipment of City <br />operations <br />