2. TENTATIVE BUDGET SUMMARY
FY budget is $ 97,113,000.
$ 1,738,500 more than last year.
Property tax rate will increase by $0.30 from $3.54 to $3.84.
State formula changed or rate would have dropped.
Levy will increase by $70,000 to cover voter approved debt.
NO water, sewer, or sanitation rate increases.
Recharge rate previously approved per Red Oak study.
One time-payments of 3.33% for Police Association and 2% for others is included.
Major projects are being completed.

3. BUDGET WORKSHOP CHANGES
Debt Service Fund 31 –
increased expenses by $91,500
covers interest and issuance costs on City Hall GO Bonds
no changes to revenue are required.
Photo Enforcement Fund 16 –
account Labor Distribution was reduced by $11,000 and
PHOTO ENFORCEMENT SERVICES was increased by $11,000
net fund change $0.00.
General Fund 10; Administration 450 –
Professional Services was increased by $25,000 to permit a wage and salary.
No changes to revenue are required in this budget to cover this additional cost.
 The Council Contingency has been maintained at $200,000 and the $6,000,000 reserve (not budgeted) will be increased this year by $435,500.

4. NEXT STEPS
Adopt Tentative Budget Scheduled for June 2, 2015 Public Hearing – Adopt Final Budget & Role Call Vote Property Taxes Scheduled for June 16, 2015 Adopt Property Tax Scheduled for July 7, 2015

5. QUESTIONS