1993 BUDGET - Laserfiche WebLink

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benefits. The 1993 Budget reflects a continuation of the pay plan adopted in 1992 that established a "prevailing wage" for each position classification. The City added short term disability coverage for employees in 1993. Employees unable to work because of a non job related illness or injury will receive benefits paid at 67 percent of weekly salary after one calendar day for a non job related accident or injury, and after four calendar days for a non job related illness. This coverage does not result in additional costs to the City. The City anticipates a cost savings of $42,277 through changes or reductions in various benefits. Approximately $7,455 will be saved as a result of a reduction liability for sick leave. There will be $15,272 savings through elimination of one fixed holiday in 1993. Reduction of the premium for life insurance will save approximately $10,189; and savings of $9,361 will be achieved through reduction of the premium for long-term disability insurance in 1993. THE FUNDS A discussion of individual funds, their revenues, expenditures and major highlights for 1993 follows: General Fund: General Fund revenues for 1993 are projected at $5,960,605, which represents an increase of 8 percent over the 1992 estimated General Fund revenue level of $5,518,850. The appropriated fund balance carryover is projected at $178,065 for total available 1993 General Fund revenue of $6,138,670. The revenue projection reflects the present level of fees and charges, with an anticipated increase in revenue from taxes. This increase in tax revenue is the result of the sales tax revenue from a full and successful year of operation at Louisville Plaza. The General Fund expenditure budget for 1993 is $6,138,370, which represents a 5.6 percent increase over the 1992 expenditure level of $5,814,925. General Fund expenditures reflect all general operational costs of the City and also a reserve of $165,495 for unanticipated expenditures. The City's General Fund is comprised of six departments plus the general government functions. The highlights for the 1993 General Fund Budget are as follows: * Increased staffing levels by 3.05 FTE in the Public Safety Department to meet increasing calls for service, at a total cost of $88,600. These include the following: Police Officer 1.00 FTE Law Enforcement Technician 1.00 FTE Code Enforcement Officer .55 FTE Secretary .50 FTE iv