Archive for Thursday, August 5, 2004

City mulling ways to keep needed mill increase down

August 5, 2004

The Eudora City Council is considering a 2005 budget that would raise the mill levy from 17.577 to about 20 mills, proving some cost-cutting measures are enacted.
Although the amount of property tax needed to pay the general fund, special police and fire equipment, and special liability fund has decreased, the amount of taxes needed has increased for both the employee benefit fund and the bond and interest fund.
The increase in the bond and interest fund will help the city pay off two financed projects -- the 14th and 15th street upgrades and a Main Street and downtown development project.
Taxes are needed for the employee benefit fund because auditors said the city had been underfunding the account, shortchaning other funds in the process. In addition, KPERs, the state retirement plan, is demanding the city contribute more next year.
The general fund is benefitting from increased sales tax revenues attributed largely to the streamlined sales tax. The budget also allows for money coming in to pay for developmen's engineering studies with proposed pass-through fees.
The Eudora City Council plans to discuss the budget further after Monday's regular meeting. The city will publish its budget and follow up with a public hearing this month.

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