Continuously serving Kosciusko County since 1854
City officials received notice of the tax rate and final budget figures from the Department of Local Government Finances this week and the Warsaw Council met Thursday to accept the numbers.
Clerk Elaine Call will forward a list of changes to be made to the DLGF prior to Monday's deadline.
The 2005 budget is $17,198,383, up $278,939 over the 2004 budget of $16,919,444. This year's levy is $0.938, also an increase over last year's $0.828. The 8-1/2 cent increase is due to the end of the inventory tax on businesses shifting the collection to property owners.
Mayor Ernie Wiggins said the city's assessed valuation is $800 million. The loss in assessed valuation by phasing out the inventory tax is $79 million.
The city has historically been several hundred thousand dollars below the maximum levy ($287,000 in 2002). Last year the state legislature froze the levy at 2002 levels leaving the city within $6 of the maximum levy.
One correction Call caught is an incorrect figure given for the Redevelopment District's general fund.
In September the council made significant cuts to the advertised budget.
Final figures for 2005 were given as:
General fund: $5,540.912.
General bond: $222,128.
Fire pension: $320,422.
Police pension: $367,296.
Fire cumulative: $255,000.
Park and recreation: $1,425,938.
Aviation: $572,060.
Cemetery $396,376.
CCD: $612,050.
Redevelopment, general: $28,925.
Cemetery permanent: $45,600.
CCI: $78,000.
Local roads and streets: $200,000.
MVH: $450,000.
Redevelopment bond and interest: $136,662.
Unsafe building fund: $20,000.
Park, non-reverting operating fund: 8,740.
Aviation depreciation $15,000.
Law continuing education: $10,000.
Redevelopment, northern TIF: $1,253,540.
Rainy day fund: $79,000.
Riverboart fund $86,500.
EDIT: $645,000.
City council members are Jeff Grose, Bob Morrison, Jerry Patterson, Bill Rhoades, Charlie Smith and George Clemens. Joe Thallemer was absent.
