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Lake Geneva city budget

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Gazette Staff
November 12, 2007

Highlights:


-- The budget decreased because the city’s debt service payment went down. The city was scheduled to make a $2.3 million debt service payment in 2008, but chose to refund its debt to lower the payments over the next few years.


-- The budget also decreased because the amount budgeted for capital improvements went down. The city borrowed money over two years to complete the projects, but the majority were done last year, including purchasing a $550,000 fire engine and related equipment, street resurfacing and restoring the fountain in Flat Iron Park.


What’s next:


The city council will hold a public hearing at 6 p.m. Thursday, Nov. 15, at the Lake Geneva City Hall, 626 Geneva St., Lake Geneva.


Total budget


Next year: $11.3 million


This year: $12.7 million


Decrease: 10.7%


Tax levy


Next year: $6.0 million


This year: $5.8 million


Increase: 3.9%


Tax rate


(Per $1,000 of assessed valuation)


Next year: $5.40


This year: $5.21


Increase/Decrease: 3.6%


Note: Percent changes calculated on whole numbers.



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