Minutes-3/10/1999

NOTICE OF PUBLIC HEARING BUDGET ESTIMATE Fiscal Year July 1, 1999 through June 30, 2000 City of TIFFIN, Iowa The City Council will conduct a public hearing on the proposed Budget at Tiffin Fire Station on 03/10/99 at 6:30 p.m. The Budget Estimate Summary of proposed receipts and expenditures is shown below Copies of the detailed proposed Budget may be obtained or viewed at the offices of the Mayor, City Clerk, and at the Library. The estimated Total tax levy rate per $1000 valuation on regular property $ 10.27 The estimated tax levy rate per $1000 valuation on Agricultural land is $ .00 At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. 02/24/99 /s/ (City Clerk) <table> <tr> <th rowspan="2"> </th> <th colspan="3"> </th> <th rowspan="2">National Inflation Factor 3rd Qrt / 3rd Qrt - 1.42%</th> </tr> <tr> <th>Budget FY 2000</th> <th>Re-estimated FY 1999</th> <th>Actual FY 1998</th> <th>Average % Change (c) to (a)</th> </tr> <tr> <td colspan="5"><b>Revenues & Other Financing Sources</b></td> </tr> <tr> <td>Taxes Levied on Property</td> <td>128,788</td> <td>95,356</td> <td>135</td> <td></td> </tr> <tr> <td>Less: Uncollected Property Taxes-Levy Year</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Net Current Property Taxes</td> <td>128,788</td> <td>95,920</td> <td>95,356</td> <td></td> </tr> <tr> <td>Delinquent Property Taxes</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>TIF Revenues</td> <td>217,782</td> <td>81,000</td> <td>41,676</td> <td>522</td> </tr> <tr> <td>Other City Taxes</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Licenses & Permits</td> <td>38,000</td> <td>20,000</td> <td>38,153</td> <td></td> </tr> <tr> <td>Use of Money and Property</td> <td>14,000</td> <td>12,000</td> <td>15,232</td> <td></td> </tr> <tr> <td>Intergovernmental</td> <td>38,000</td> <td>38,000</td> <td>38,538</td> <td></td> </tr> <tr> <td>Charges for Services</td> <td>200,000</td> <td>167,000</td> <td>224,694</td> <td></td> </tr> <tr> <td>Special Assessments</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Miscellaneous</td> <td>5,000</td> <td>2,000</td> <td>6,640</td> <td></td> </tr> <tr> <td>Other Financing Sources</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Total Revenues and Other Sources</td> <td>641,570</td> <td>417,920</td> <td>460,289</td> <td></td> </tr> <tr> <td colspan="5"><b>Expenditures & Other Financing Uses</b></td> </tr> <tr> <td>Community Protection (police, fire, street lighting, etc)</td> <td>29,220</td> <td>77,620</td> <td>38,293</td> <td>-31</td> </tr> <tr> <td>Human Development (health, library, recreation, etc)</td> <td>25,500</td> <td>25,500</td> <td>13,388</td> <td>190</td> </tr> <tr> <td>Home & Community Environment (garbage, streets, utilts, etc)</td> <td>308,000</td> <td>358,000</td> <td>205,230</td> <td>150</td> </tr> <tr> <td>Policy and Administration (mayor, council, clerk, legal, etc)</td> <td>98,000</td> <td>165,000</td> <td>74,791</td> <td>131</td> </tr> <tr> <td>Non-Program</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Total Expenditures</td> <td>460,720</td> <td>626,120</td> <td>331,702</td> <td></td> </tr> <tr> <td>Less:</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Debt Service</td> <td>40,000</td> <td>10,000</td> <td>10,000</td> <td></td> </tr> <tr> <td>Capital Projects</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Net Operating Expenditures</td> <td>420,720</td> <td>616,120</td> <td>321,702</td> <td></td> </tr> <tr> <td>Transfers Out</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Total Expenditures/Transfers Out</td> <td>460,720</td> <td>626,120</td> <td>331,702</td> <td></td> </tr> <tr> <td>Excess Revenues & Other Sources Over</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>(Under) Expenditures/Transfers Out</td> <td>180,850</td> <td>(208,200)</td> <td>128,587</td> <td></td> </tr> <tr> <td>Beginning Fund Balance July 1</td> <td>324,139</td> <td>532,339</td> <td>403,752</td> <td></td> </tr> <tr> <td>Ending Fund Balance June 30</td> <td>504,989</td> <td>324,139</td> <td>532,339</td> <td></td> </tr> </table> The National Inflation Factor for Government purchases is compared with the average annual percentage change between the Actual and Currently Budget amounts. An explanation must be provided for each of the six categories above, rows 1, 6 & 15 thru 18, that exceed the National Inflation Factor. An explanation is required for each "NEW" revenue or expenditure. Explanation of any Average % Change (& and "NEW" expenditure program) exceeding the National Inflation Factor: Property tax levy increased to fund general fund expenditures TIF Revenues increased with city growth and valuation Purchase/lease of park location underway and anticipated expense one million sewer plant project started some time this year ongoing growth/most new revenues attributed to TIF levy