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O� <br />IA-_Og <br />Otl3X <br />Ai� <br />'OtlJ% <br />-' AJU.• -' <br />OtlJ% <br />The proposed 1967 budget upon which the tax rate is <br />based, <br />I <br />I <br />represents an increase of $536,785 over the 1966 <br />budget. <br />The major <br />ingredients causing this increase are: <br />1. A 5% increase in police and fire wages <br />and the attendant <br />increase in retirement expense <br />j <br />2. A proposed new fire station <br />3. A proposed redevelopment bond issue in <br />the amount <br />of <br />$950,000 <br />4. An increase of one -half cent in the tax <br />levy for <br />the <br />art association <br />5. 1967 city election expenses in the amount of $151,645 <br />The total of these items exeeds the increase reflected in the <br />budget. This total was materially reduced by reductions in other areas . <br />that have been affected, including the transfer of the sewer department. <br />In the initial tax rate computation, unexpended balances as used <br />do not reflect the total reductions that will occur. Thus, the increase <br />in the tax rate, which is presently computed at 15.9 cents, will be <br />materially reduced in the final computation. <br />The net reduction in tax base of 3 million dollars by virtue of <br />the exemption of household goods is also an important factor in the <br />tax levy. <br />Your administration believes this budget to be a most realistic <br />proposal to meet the needs of a growing city. The percentage of increase <br />in this proposed budget, including the rather substantial and much <br />needed increases of salaries and e <br />wa es still is less than the <br />wages, <br />percentage of increase in. the cost of goods and labor and materials in the <br />national economy. <br />V <br />Lloyd M. Allen <br />