|
<br />REQUEST FOR CITY COUNCIL AGENDA ITEM
<br />
<br />Agenda Date Requested: AU2ust 27, 2007
<br />
<br />Requested By: Michael Dolby, CPA r
<br />
<br />Department: Finance
<br />
<br />Appropriation
<br />
<br />Source of Funds: NI A
<br />
<br />Account Number: N/A
<br />
<br />Report:
<br />
<br />Resolution:
<br />
<br />Ordinance:
<br />
<br />xx
<br />
<br />Amount Budgeted: N/A
<br />
<br />Amount Requested: NI A
<br />
<br />Exhibits: Public Hearing Notice
<br />
<br />Exhibits:
<br />
<br />Budgeted Item: YES NO
<br />
<br />Exhibits:
<br />
<br />SUMMARY & RECOMMENDATION
<br />
<br />The City Council held budget workshops on August 13 through August 14,2007 to discuss proposed budgets for the
<br />fiscal year beginning October 1,2007 and ending September 30,2008.
<br />
<br />The Summary of Funds, which is shown below, represents the result of the workshops held with City Council. All
<br />changes made by Council were incorporated into the various budgets.
<br />
<br />Revised 2007
<br />29,766,192
<br />831,240
<br />600,000
<br />638,000
<br />510,269
<br />1,103,029
<br />47,662
<br />6,753,388
<br />242,698
<br />183,821
<br />982,947
<br />1,213,862
<br />1,320,577
<br />4,264,042
<br />1,240,175
<br />1,438,189
<br />1,743,767
<br />583,149
<br />629,336
<br />901,888
<br />1,100,759
<br />468,752
<br />7,118,797
<br />3,020,348
<br />1,200,000
<br />7,900,000
<br />449,650
<br />2,798,292
<br />494,328
<br />760,700
<br />$80,305,857
<br />
<br />General Fund
<br />Grant Fund
<br />Street Maintenance Sales Tax Fund
<br />Community Investment
<br />Hotel/Motel Occupancy Tax
<br />La Porte Development Corporation
<br />Tax Increment Reinvestment Zone
<br />Utility
<br />Sylvan Beach
<br />Airport
<br />La Porte Area Water Authority
<br />Golf Course
<br />Motor Pool
<br />Insurance Fund
<br />Technology Fund
<br />General Capital Improvement
<br />Utility Capital Improvement
<br />Sewer Rehabilitation Capital Improvement
<br />1998 General Obligation Bond Fund
<br />2000 General Obligation Bond Fund
<br />2002 General Obligation Bond Fund
<br />2005 Certificate of Obligation Bond Fund
<br />2005 General Obligation Bond Fund
<br />2006 Certificate of Obligation Bond Fund
<br />2006 General Obligation Bond Fund
<br />2007 Certificate of Obligation Bond Fund
<br />Transportation & Other Infrastructure Fund
<br />General Debt Service
<br />Utility Debt Service
<br />La Porte Area Water Authority Debt Service
<br />Total of All Funds
<br />
<br />There is no change in the Tax Rate, which has remained constant for the last nineteen years.
<br />
<br />Proposed 2008
<br />30,010,812
<br />1,036,356
<br />1,004,178
<br />233,120
<br />556,540
<br />971,565
<br />1,600,185
<br />8,038,354
<br />274,158
<br />23,396
<br />1,717,760
<br />1,304,138
<br />1,529,323
<br />4,881,080
<br />1,196,065
<br />955,000
<br />935,000
<br />350,000
<br />o
<br />54,465
<br />o
<br />60,000
<br />o
<br />o
<br />49,478
<br />305,261
<br />200,000
<br />3,477,278
<br />479,105
<br />758,531
<br />$62,001,148
<br />
<br />As Council may be aware, House Bill 3195 was passed earlier this year requiring that cities notify the public of
<br />property tax revenue increases over prior year's property tax revenues. The notice of this increase would be
<br />required in the City's budget document and public notices. HB 3195 states that it applies to budgets enacted after
<br />September 1, 2007. It is the opinion ofIegal that HB 3195 should not apply to the City of La Porte this year, to the
<br />extent that we are able to pass the Fiscal Year 2008 budget on August 27,2007.
<br />
|