HomeMy WebLinkAbout16. 2021 Levy TargetOshkosh
TO: Honorable Mayor and Members of the Common Council
FROM: Russ Van Gompel, Finance Director
DATE: September 2, 2020
RE: 2021 Levy Target Discussion
BACKGROUND
At the August 191h Budget Workshop, Council was presented a "Funding Base Budget
Assumptions". An additional copy is attached for your review. At the workshop, Council
expressed a desire to continue with a discussion on the target levy at the September 81h Council
meeting.
Council should discuss what if any levy they would like the City Manager and staff to use as
staff begins the process of compiling budget requests from the various departments. For 2020,
the current levy is $40,737,400. I have illustrated what various potential increase could
represent in the amount of tax revenue collected.
The highlighted option at 4.41% would generate $1,796,288 in additional tax revenue. This
revenue would be needed to cover nondiscretionary and discretionary increases based on
current assumptions. It is possible that these assumptions could change.
At this point in our preparation of the 2021 Operating Budget, it would be helpful if Council
could provide some input as to what if any increase Council would feel is appropriate in
trying to present a balanced budget.
Respectfully Submitted,
Russ Van Gompel
Finance Director
Approved:
Mark Rohloff
City Manager
Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http:!/vuwva.ci.oshkosh.wi.us
Funding Base Budget Assumptions
Current levy
Options for Consideration:
40,737,400
0.00%
1.00%
2.00%
3.00%
4.00%
4.41%
5.00%
Nondiscretionary Increasel(Decrease):
Debt Service
Wage and wage benefits
Total Nondiscretionary Increasel(Decrease):
Discretionary Increases:
Discretionary wage allowance
Health/Dental Insurance Increase
(7% Health Ins estimate and 0% Dental Ins estimate)
Total Discretionary
Total Increasel(Decrease)in spending
40,737,400
41,144,774
$
407,374
41,552,148
$
814,748
41,959,522
$
1,222,122
42,366,896
$
1,629,496
42,533,686
$
1,796,286
42,774,270
$
2,036,870
(910,455)
1,559,400
$
648,945
'No Consideration for Expenditure Restraint Program (ERP)
925,000
222,341
$ 1,147,341
1,796,286