1. FINAL 2018 Budget December 14, 2017 City Council Meeting 12/14/2017
DRAFT

2. Budget Considerations
6% Increase in Tax Levy
Decrease in Expenditures over the 2017 Budget
Public Safety Cost Increases
1.85% Increase in Property Values
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3. Budget Highlights Why have Expenditures decreased?
Sewer & Water Costs and Revenues have been separated from the General Budget.
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4. Budget Highlights- Revenue
Proposed Tax levy is 1,557,082, an increase of $114,536 (6%) from 2017
Assumes building permits to stay the same compared to 2017
No increase in building permit fees
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5. Revenue Totals Property Taxes - $1,557,082. (66% of Budget)
Fees for Service - $378,167. (16% of Budget)
Licenses & Permits - $286,250. (12%)
Total Operating Fund Budget- $2,345,871
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6. Budget Highlights- Expenditures
Total Expenditures have decreased $175,039 due to the removal of Water & Sewer from the budget.
The largest departments are;
Police $757,507 (32%)
Fire $342,219 (15%)
Administration $305,855 (13%)
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7. Expenditures
There are about 1, residential parcels in North Oaks, so each parcel pays an average $808 toward City taxes.
Each parcel pays an average of $394 for Police Services and $178 for Fire Services.
A home valued at $500,000 would pay about $604 in City taxes.
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8. Next Steps
The Truth-in-Taxation Public Hearing is to accept public comment and answer questions
2018 Tax Levy & Budget Adoption follows at the regular City Council meeting
12/14/2017
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9. QUESTIONS?
Budget questions and comments for either the City Council or the City Administrator
12/14/2017
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