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2007 General Fund Budget August 8,2006—5:30 p.m. Budget Work Session GENERAL FUND BUDGET REVENUES 2004 2005 2006 2007 (proposed) Receipts 109,792 119,907 149,052 175,729 General Levy 938,199 1,100,000 1,300,000 1,388,900 State Aids 103,358 96,145 101,173 94,561 TOTAL $1,151,349 $1,316,052 1,550,225 1,659,190 EXPENDITURES 2004 2005 2006 2007 (proposed) 1,151,349 19316,052 19550,225 1,659,190 The proposed 2007 budget shows a levy of$1,388,900 which is a 7%increase over the 2006 general fund levy amount. This is considerably lower than last year's levy increase of 18%. All departments have worked very hard to keep the levy as low as possible. The major increases in the general fund budget are as follows: • Wages $27,160—(This amount includes a 5%wage increase. When we budgeted we asked employees to forecast a two-step move, not knowing what the actual increase would be.) Moving one step forward portrays a 2 1/2 %increase. According to the US Department of Labor,the consumer price index for the non-metropolitan Midwest urban area is 4.3%. • Health Insurance - $21,479—Approx. a 14% increase • Clerk—$20,000 - Capital Outlay—Purchase of financial software • HRA—$15,000—New budget item. $10,000 for WAC/SAC hookup and$5,000 under Council contingency for potential project/property clean up • Planning and Zoning - $17,855—Contract Services • Decrease in LGA funding by $6,600 Please note that these are just the major increases. Page 8 of the budget lists other smaller increases in the general fund budget. We must have our preliminary levy set by early September. Remember that the preliminary levy can always be reduced before final levy; however, it cannot be increased.