Minutes: Budget Hearing 2007
Public Hearing
2008 Annual Budget
November 29, 2007
Notice of this meeting was posted on November 14, 2007 in the following locations in the Village of Plain: Municipal Building; Plain Post Office; and, The Peoples Community Bank. The preliminary budget summary was published in the November 14, 2007 issue of the Home News.
The hearing was called to order at 7:00 p.m. by President Ellenbolt.
The mill rate for 2007 is not finalized yet because of figures still needed from the State of Wisconsin.
The Village’s tax levy increased from $417,043.56 in 2006 to $431,603.00 in 2007. This is an increase of 3.37%.
The budget as adjusted from its original publication results in the following 2008 General Fund Budget:
REVENUES | ||
General Property Taxes | $341,211.44 | |
Taxes (Other than Property Taxes) | $17,618.00 | |
Special Assessments | $1,811.66 | |
Intergovernmental Revenues | $94,099.44 | |
Licenses and Permits | $4,150.00 | |
Fines, Forfeitures & Penalties | $900.00 | |
Public Charges for Services | $15,610.00 | |
Intergovernmental Charges for Services | $1,500.00 | |
Miscellaneous Revenue | $37,418.04 | |
Other Financing Sources | $0.00 | |
Total Revenues | $514,318.58 | |
EXPENDITURES | ||
General Government | $66,242.00 | |
Public Safety | $171,616.65 | |
Public Works | $191,015.93 | |
Culture & Recreation | $75,559.00 | |
Conservation & Development | $9,885.00 | |
Total General Fund Expenditures | $514,318.58 | |
General Fund Expenditures | $514,318.58 | |
TIF District Fund | $24,945.00 | |
Library Fund | $98,012.00 | |
Debt Service Fund | $40,509.56 | |
Capital Improvements Fund | $3,000.00 | |
Total Anticipated Expenditures | $680,785.14 | |
Total Anticipated Non-Property Tax Revenues | ($224,237.14) | |
TIF Funds Applied to Debt | ($24,945.00) | |
Amount Required for Tax Levy | $431,603.00 |
The tax rates would be as follows not including the school tax credit:
2007 | 2007 | ||||||
Taxing | Apportioned | T.I.D. #2 | Total | 2007 | |||
District | Levy | Increment | 2007 | Tax Rates | |||
State Tax | $11,618.64 | $11,618.64 | 0.17137 | ||||
$268,134.27 | $1,175.77 | $269,310.04 | 3.97210 | ||||
$585,248.48 | $2,566.32 | $587,814.80 | 8.66978 | ||||
M.A.T.C. Tax | $81,727.26 | $358.39 | $82,085.65 | 1.21070 | |||
Village Tax | $431,603.00 | $1,892.58 | $433,495.58 | 6.39370 | |||
$1,378,331.65 | $5,993.06 | $1,384,324.71 | $20.41765 | ||||
2007 Assessed Valuation = $67,800,400
2007 Equalized Valuation = $68,463,300
Assessment Ratio = 0.990317
Liegel motioned to accept the 2007 General Fund budget of $514,318.58 as presented. Buchanan seconded the motion. The motion carried unanimously.
Leeck motioned to adjourn the Public Hearing. Neuheisel seconded, and the motion carried.
The Public Hearing adjourned to a Village Board meeting at 7:08 p.m.
Sheila Tafs
Village Clerk/Treasurer