Major highlights of the budget:
*One-third of the city's $169.4 million operating budget will be directed toward the police in order in assign eight more new officers to patrols, upgrade the 911 operator system and maintain the 3 percent annual salary increase for police. Other city employees, whose salary increased by 1 percent this year, will have their salaries adjusted to competitive salaries in other areas or receive a 2 percent salary bonus Jan. 1.
- The city tax rate for the upcoming FY, effective July 1, was set at 58.3 cents per $100 in property value--a 7 percent increase in property taxes from last year's rate. Fees for storm water and water and sewer use grew an addition $52 to $69, depending on the size of the house. Additional fees that increased for FY 04-05 will affect tow-truck operators, developers, people seeking city business licenses and burial plots.
*The cost of city yard and waste collection for residents will increase with the implementation of a $10 per year increase.
*1 cent of the property tax rate will be devoted to a downtown revitalization fund, which will be used to encourage redevelopment projects and attract creative businesses downtown.
*$27.6 million of the approved budget will be dedicated for new city capital investment projects in order to reduce the projected $600 million cost of city maintenance and facilities needs over then next six years.
*The city's overall reserve fund will be maintained at approximately 10 percent of the general fund, so as not to affect the city's current AAA bond rating.
-- compiled from staff and wire reports
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