Minutes 04/19/1983 - Laserfiche WebLink

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€ TUESDAY APRIL 19, 1983 In the ensuing discussion of the recommended budget by Council and by the comments thereon by individual members of Council, there appeared a real consensus to the effect that the 1983-84 tax rate on real estate should be no more than 76i per one hundred dollars of assessed valuation, with the realization that--because of the new reassess- ment--in some cases certain property owners will pay more tax dollars than in 1982-83 and in other cases property owners will pay less but, in the great majority, property -- owners will pay approximately the same tax dollars as they paid in 1982-83. It was estimated by City Manager Edmonds that the reduction from his recommended 80i rate to the 76i rate will result in the equivalent of $130,000.00 being eliminated from the 1983-84 General Fund's expenditure recommendations or being financed from General Fund surplus, with a later consequence of Council being faced with the choices of (1) reducing services financed by the General Fund, (2) increasing the Electric Fund's contributions to the General Fund, and/or (3) substantially increasing the tax rate on taxable real estate. In connection with Council's proposed 1983-84 real estate tax rate of 76i, Mayor Cole requested a re-evaluation of the Manager's recommended budget. Mayor Cole also indicated that Council should thoroughly consider and, perhaps determine as policy, the amounts of -- fund surpluses the City should accumulate and/or retain from year to year as well as a capital improvements program and its cause and effect relationship to fund surpluses. In addition, after emphasizing the need to provide (and continue providing) the services expected by the citizens, Mayor Cole urged that: A. A list of new needs be compiled; B. Plans be developed for the financing of the Leatherwood Creek water source project; -- C. Plans be developed for the financing of the proposed Wastewater (Sewage) Treatment Plant expansion;