The proposed budget for the city of Jefferson for fiscal year 2014-15 calls for a slight decrease in the levy rate, but as with the county budget, most property owners will not see a decrease in their tax bill. The total taxable valuation in the city increased 1.14 percent to $117,856,900 (all figures rounded to nearest hundred). Including the valuation for gas and electric utilities, the city will be levying taxes against $121,154,500 in valuation. That is about a $2 million increase over last year, according to Jefferson city clerk Diane Kennedy.
The budget calls for a property tax levy on regular property of 15.285 (per thousand dollars of taxable valuation), down from 15.31 in the current year. Total taxes levied on property account for $1,819,500 in revenue, an increase of about $20,000 from the current year.
Total revenue in the FY ’15 budget is $7,594,200, an increase of $174,000 over the current year. Most of the increased revenue, an estimated $152,000, comes from an anticipated 3 percent increase in water and wastewater charges. Kennedy said that although the council has not yet approved the increase, the water and sewer committee is expected to make that recommendation to be effective July 1. There was no increase in rates in the current year.
The budget is very lean in expenses, with most line items seeing a decrease from the current year. The largest decrease is a reduction of $126,000 for public works. That line items includes the water, sewer, sanitation and street departments. This year the purchase of a new garbage truck was included as an expense; there are no large purchases planned for the coming fiscal year. The total for government activities is decreased $199,000 from the current year, projected at $3,500,600 for FY ’15. The FY ’14 total reflects the purchase of the municipal golf course and airport projects.
All expenditures and transfers out for FY ’15 are budgeted at $6,930,100.
The fund balance on June 30, 2014, is estimated at $6,331,400. The estimated fund balance on June 30, 2015, is estimated at $6,995,500, according to the state budget form.
*Information added March 7— Mayor Craig Berry explains that the actual budget and expenses for the year is about $2.4 million. Of that, revenues are estimated to be about $2,287,000 and expenses are estimated at $2,381,000.
The total fund balance includes more than $2 million the city bonded for the Highway 4 overpass and paving Central Ave and Grimmell Road. The Iowa Department of Transportation has not yet billed the city for that. Close to another $3 million is in enterprise funds like the water plant replacement fund and the sewer replacement funds. Those funds are built up over time so money is available as projects are necessary. A capital improvement fund includes money in various departments for replacement items like police vehicles, garbage trucks, lawn mowers and more.
A public hearing on the FY ’15 budget will be held Tuesday, March 11, at 5:30 pm in the council chamber on the second floor of the municipal building.
