REVENUES/EXPENDITURES FOR 2004
PROPOSED TO DECREASE BY 4.7%
On September 11th, councilmembers approved a proposed General Fund Oper-ating Budget for calendar year 2004 that is lower than the budget approved for 2003.  Total expenditures and revenues projected in the budget for 2003 amounted to $2,537,108.  They are projected to be $2,417,419 in 2004.
Why is the proposed budget lower for 2004?  Stated Mayor Jerry Bohn, "We lost state aid.  We had to reduce expenditures because revenue went down.  Most of the cutting was done by taking away from community development funding.  Last year we set aside $150,000 for community development.  We didn't cut people to cut costs.  In fact, we added a person."
The position being added at City Hall is Administrative Assistant to the Community Development Department.  Amount budgeted for 2004 community development funding is reflected below in the "Miscellaneous" category.

General Fund Operating Revenues
General Fund Property Tax      $1,834,600
Licenses and Permits                   $282,440
Inter-governmental Revenue         $35,277
Charges for Services                   $227,227
Miscellaneous Revenue                 $37,875
TOTAL REVENUES               $2,417,419

General Fund Operating Expenditures
General Government
Mayor/Council                              $15,741
Administration                             $351,230
Finance                                        $132,303
Elections                                          $8,791
Professional Services                  $160,000
Planning and Zoning                   $168,711
Government Buildings                  $29,520
TOTAL General Gov't               $866,297

Public Safety
Police/Sheriff                               $110,000
Fire Protection                             $266,935
Building Inspection Dept.           $132,935
Animal Control                                $1,000
TOTAL Public Safety                $510,148

Public Works
General Maintenance/Streets      $397,811
Snow Removal                                $8,500
Street Lighting                               $40,000
Signal Lights                                   $1,600
Street Cleaning                                       $0
Composting                                     $4,500
TOTAL Public Works                $452,411

Parks and Recreation
Recreation Activities                     $11,577
Appropriation to Field House      $250,000
Parks and Recreation                   $241,184
TOTAL Parks & Rec                  $502,761

Miscellaneous                                $85,801
TOTAL EXPENDITURES       $2,417,419

TOTAL LEVY TO INCREASE BY 7.8%
BUT INDIVIDUAL PROPERTY TAXES DECREASE
On September 11th, councilmembers approved a proposed tax levy for the City of Victoria for collection in 2004.  A tax levy of $2,445,261 was certified to Carver County on September 15th, 2003, and will be upon taxable property in the City of Victoria for the following purposes:

General Fund Levy                   $1,906,634
Diethelm Park Land Lease            $87,125
G.O. Refunding Bonds of 2000     $60,000
G.O. Equip't Cert. of 2001            $26,482
G.O. Equip't Cert. of 2002          $196,305
G.O. Equip't Cert. of 2003            $78,983
G.O. 2002 TIF Bonds                    $20,725
G.O. 2003 TIF Bonds                    $56,507
G.O. 1998 Improvement Refunding   $12,500
TOTAL CERTIFIED LEVY          $2,445,261

      The General Fund Levy of $1,906,634 is the overall payable 2004 levy limitation granted by the Minnesota Department of Revenue.  The General Fund Levy sup-ports basic city services such as streets, sewer, water, snowplowing, fire protec-tion.
The Total Certified Levy is the sum of the General Fund Levy and special levies for bonded indebtedness, certifi-cates of indebtedness, and lease payments due other local government units.  Such items are beyond basic.  For example:
*The Diethelm Park Land Lease is the city paying the city.  This money goes into a fund to pay for economic develop-ment at the park.
*The General Obligation Refunding Bonds of 2000 are a compilation of old bond issues.
*The General Obligation Equipment Certificate of 2001 is for trucks purchased that year.
*The General Obligation Equipment Certificate of 2002 is for several items including that portion of the field house not projected to pay for itself, and some equipment for the field house such as the ice freezing equipment.  Equipment is often financed, instead of paying it off immediately, because interest rates are low.
*The General Obligation Equipment Certificate of 2003 is for the fitness and exercise equipment at the field house.
*The General Obligation 2002 Tax Increment Finance Bonds are for that part of the Downtown Bridge construction not covered by grant money.
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