1999 BUDGET - Laserfiche WebLink

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• The water utility fund and sewer utility fund include budgeted funds to exercise call options of $1,571,000 available on the 1979 and 1980 general obligation water bonds, and the 1994 sewer revenue bond. This will save the City $352,540 in interest costs through 2017. • The budget in the conservation trust -land acquisition fund for open space has been augmented through a transfer of $309,260 from the general fund. This is 1/8% of the 3-3/8% sales tax generated in the City of Louisville. • The 1999 budget includes the second year reduction of the water assessment fee, to be phased out over a four-year period. The mill levy on property tax has been reduced from 5.246 to 5.184. • The budget reflects the continuous investment in the City work force with a 2 percent range adjustment, a 4 percent pro -rated merit increase, and a market adjustment for positions below the benchmark comparisons. This is a total increase in personal services costs of 9.1 percent over the 1998 budget. As a result of applying growth factors to each department, a funding base was established to maintain the current level of service, with the Council approving additional programs in excess of this benchmark. In 1997, the growth of sales tax revenue allowed for the transfer of $500,000 from the general fund to the capital projects fund. The 1998 level has risen to $650,000, and maintained for 1999. This has been accomplished in addition to maintaining a fund balance level within the prescribed minimum. Current Year Goals and Policies11999 Budget Action A. Implement Landscape/Beautification master Plan recommendations. Landscape/gateway improvements are budgeted at $275,000. B. Increase funding of elderly meal program. The 1999 budget increases support of the senior nutrition program by $9,500, contributing towards the program and adding a fifth day. C. Increase library book purchases. The budget for books has been increased by $6,000, for a total of $65,000 for 1999. D. Assign police patrol cars. The 1999 police budget includes $33,000 to refurbish three police cars, to be used as assigned vehicles. E. Begin funding depreciation of computerequipment. The 1999 budget initiated a cost per computer and shared costs for network servers, charged to each department. A new fund, the Technology Management Fund, will be the internal