1997 BUDGET - Laserfiche WebLink

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Capital Projects Fund Taxes Sales Tax - The City allocates .5% sales tax from Centennial Valley new growth to this fund for capital projects. The amount of this sales tax for fiscal year 1997 is $330,000. Sales Tax - Of the 3.375% sales tax 1 % is budgeted in this fund for debt retirement and future capital projects. The amount of this sales tax for fiscal year 1997 is estimated at $1,930,000. Use Tax Building Materials - A 3.375% use tax is levied on 50% of the building valuation for the privilege of using or consuming construction and building materials for non- residential construction in the City. For fiscal year 1997, 3% of the 3.375% use tax is budgeted in this fund and is estimated to be $343,071. Use Tax - Residential - At the time a building permit is issued, a use tax equal to three and three eights (3.375) percent of fifty (50) percent of the "total value" of construction or improvement is collected. This is restricted for school improvements in conjunction with the Boulder Valley School District. The 1997 amount is $125,475. Intergovernmental Grants - Grants are contributions from another government that are to be used or expended for a specific purpose. For fiscal year 1997 grants are estimated to be $100,000. Charges for Services Service Expansion Fees - At the time a residential construction permit is issued, a service expansion fee of $2.60 per square foot of the interior finished floor is charged. For fiscal year 1997, service expansion fees are based on 44 single family residential units at 2,293 average square feet per unit. Total revenues for 1997 are budgeted at $262,266. Tree Certificate Fees - For each new residential unit, the City assesses $35.00 for every forty linear feet of property frontage adjacent to the street. This fee is later reimbursed to the homeowner for the purchase of trees and shrubs. Tree certificates are budgeted at approximately $70 per new residential unit, for a total of $3,080 for fiscal year 1997. Major Thoroughfare Fees - For any residential dwelling unit constructed within the City, a $1,650 per unit major thoroughfare fee is charged. Fiscal year 1997 major thoroughfare fees are budgeted at $72,600. Storm Drainage Fees - Storm drainage fees are collected for the reimbursement of the storm sewer in north Louisville. Fees are collected as follows: Carleton subdivision - $390/home; Ponderosa subdivision - $391/home; and Hunters Ridge subdivision - $139/home. For fiscal year 1997, the City estimates these fees at $1,955. Traffic Signal Fee - The cost of the traffic signal at Century and McCaslin will be funded at 25% from the Century Office Park Development. The 1997 budget for this is $28,000. Miscellaneous Interest Eamings - Interest earnings results from deposits of cash. Interest 60