1993 BUDGET - Laserfiche WebLink

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Revenueg: The largest source of revenues is user fees, which accounts for 42.1 percent of the total budget. These user fees consist of revenue from water and sewer rate charges of $3,455,030, which includes the .second year of a three-year 12 percent annual increase in water rates and a 3.5 percent increase in sewer rates; golf course user fees of $1,535,810; recreation fees of $760,975; and revenues of $6,557,960 from building activity such as service expansion fees, major thoroughfare fees, and water/sewer tap fees. Reserve draw -downs make up approximately 34 percent of the 1993 total Budget. These reserve draw -downs consist of revenues reserved in 1992, as provided by Amendment One, for appropriation in 1993 and future years. Taxes make up 16.5 percent of the total 1993 revenues. The main component of this revenue source is sales tax of $2,820,000. The City anticipates that the new Louisville Plaza, including K-Mart and King Soopers, which opened in the Spring of 1992, will provide significant sales tax revenue during the 1993 fiscal year. Revenue from franchise taxes of $497,620 and revenues from use taxes of $528,595 also are expected in 1993. Property tax revenue is projected at $916,715 in 1993. This is based on a decrease in the mill levy rate to meet the provisions of Amendment One that govern annual property tax revenue changes. The City's mill levy for 1993 will be 5.862 mills as compared to 5.898 in 1992. The remaining revenues consist of revenue from interest earnings, 2.6 percent; miscellaneous other revenue, 2.2 percent; and intergovernmental revenue, 2.1 percent. Expenditures: The 1993 expenditures include the general operations of the City, such as police protection, library services, general government, highways and streets, and parks and recreation which combined account for 20.9 percent of total 1993 expenditures. Water and Sewer Fund operations account for 7.5 percent; golf course operations, 3.4 percent; and debt service payments, 11.6 percent. Reserve increases, consisting of revenues that will be reserved in 1993 as provided under Amendment One for appropriation in 1994 and/or future years, account for 1.7 percent. Expenditures on capital improvements for public works, the golf course, parks and recreation, and water and sewer will account for 54.9 percent of the total expenditures for 1993. Despite the impacts of Amendment One on the City, existing levels of service have been maintained in the 1993 Budget and expenditure levels are sufficient to address AAA priority goals. The 1993 Budget includes an average 4.5 percent pay increase for City staff. Increases will be based on employee performance evaluations with increases possible from 2 percent to 6 percent based on performance. Fiscal Policy 22 states that the City will strive to pay prevailing market rates of pay to its employees. Prevailing market rate is defined to include both salary and fringe