Minutes 03/18/1997 - Laserfiche WebLink

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082 March 18. 1997 School Operating Budget Revenue History Summary Of Revenue Increases and Average Impact on Citizens 100,000,000 80,000,000 60,000,000 40,000,000 20.000.000 0 1992 1993 1994 1995 1996 1997 1998 Ss the total revenue summary shows, the resources available to the city have increased 7.1%. The total budget of $276 million is a $18.3 million increase over FY97, w/th the major increases resulting from general property rexes and state funding for education with no increase in real estate taxes. General Property Taxes Other Local Taxes From the Commonwealth Charges for Current Services Other Revenue & Fund Balance/Retained Earnkngs Total Revenue FY 1996-97 FY 1997-98 Variance Percentage Budget Proposed Budget <-> Chanee $ 53,495,000 $ 56,885.000 $3,390,000 6.3% 28,560,000 30,520,600 1,960,600 6.9% 104,531,613 109.589.850 5,058,237 4.8% 38,363,449 39.839.320 1,475,871 3.8% _33.441.589 39.925.152 6,483.563 19.4% $ 258.391.651 $ 276.759.922 $ 18.368.271 7.1% Fee or rate increases are proposed as follows: · Increase in refuse fee from $14 to $15 per month, · Increase tn water rate from $2.05 gallons to $2.15 per 1000 gallons (still lowest in Hampton Roads), · Increase in sewer discharge rate from $1.136 to $1.203 per 1000 gallons, · Increase in the E-911 from $1.50 to $1.75 per month, · ncrease in Restaurant Food and Lodging tax from 5.00% to 5.50% , and · Increase in the Automobile License tax from $18 to $24 for motorcycles, from $23 to $25 for vehicles up to 4000 pounds and from $28 to $30 for vehicles over 4000 pounds. These rate increases will impact the average citizen, per month, as follows: Refuse $ 1.00 Water and Sewer .75 Sewer .12 E-911 .25 Total $ 2.12