Valley City Special Commission Budget Proceedings
Monday, July 23, 2018
7:00 AM City Hall
President Carlsrud called the meeting to order at 7:00 AM.
Members present: Commissioner Magnuson, Commissioner Bishop, Commissioner Powell, Commissioner Erickson.
Others Present: City Administrator Schelkoph, Finance Director Richter, Deputy Auditor Klein, City Attorney Schoenack, Police Chief Hatcher
Discuss first draft of 2019 Budget
The value of a mill has increased by an estimated $573 from last year to an estimated value of $17,050. The County Auditor will determine the actual value of a mill later in Dec 2018. New growth and properties that moved off the exempt status attributed to $238 of the increase and the balance of $335 is the result of changes in valuations on existing properties. To maintain the 0 mill increase, the city would need to decrease its mills by 1.6 mills from 2018 budget which is an increase of $18,594 in property tax revenue. The first draft of the budget increased the amount to be levied by $94,300.
Cash reserves remains the same at $890,000 which is at 29% of budgeted expenditures and is within the guidelines set in the City’s Fund Balance policy. The General fund revenues decreased by approximately $4,000 and expenditures increased by $118,093.
The proposed salaries in the 2019 budget includes a 2.3% increase for the cost of living allowance (COLA) and a step increase in the 25 year salary schedule. It’s an increase of $58,000 which is approximately a 4% increase in salaries and wages. Cost of Living Adjustment (COLA) is calculated using the Consumer Price Index, in the U.S. Department of Labor, Bureau of Labor Statistics report for the Midwest Region from May 2017 to May 2018.
Also discussed were the update to the City’s management information system (MIS) for $27,500, computer replacement inventory schedule and requesting to leave the City’s contribution to the employees’ health savings account (HSA) the same as in 2018.
At 8:35 AM Meeting Adjourned.
Dave Carlsrud, President of the
City of Valley City Commission
Attested to by:
Avis Richter, City Auditor
City of Valley City