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6-0-1, we're going to call our special meeting to consider setting a tax rate. Tonight, city of spring, valley, village, ethanol, you do a roll call, please. Mayor David Domini. Here. Councilmember Allen Carvinder. Here. Councilmember Steve Bass. Councilmember John Lisenby. Here by Zoom. Councilmember Joy McCormick. Here. Councilmember Mark Taylor. Here. Mayor, we have a point.

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Council member Bass is walking through the door right now so you can count him

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present as well.

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Now we're going to let you come in here within the one minute

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time frame. You're out today.

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Okay John, do you want to reach your charger?

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First item tonight is just a presentation of the draft budget for fiscal year

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This is 99% what we brought to you in June, so we haven't made much change.

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There have been some minor adjustments as we got some updated costs on a few items.

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The only major change would be a personnel change.

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We typically set a recommendation for a COLA based on the June over June to June.

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A CIP, they calculated a little late

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CIP was,

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so we did recommend an increase in the COLA

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for employees at 3.9.

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This covers non-police, employees all the police outside of the captain's

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pay scale based

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on the competitive nature.

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Unfortunately, we have recommended before, just to go over some of the compensation benefit changes an increase in the 457 and from 2% to 3%.

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457 was originally adopted as an increase

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in 10%.

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Yeah,

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you can take those benefits.

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benefits. So, for example, Susan, a good job explaining earlier, if the employee is worth is the cost of their benefits is $2,000, that we take out the 500 for the employee because we cover our employees 100%.

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And then right now we cover 55% of that remaining $1,500. This would increase it to 65%. So not a huge amount, but enough to show that we're thinking about the fact that the cost of healthcare is going up goes

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Okay okay, I don't worry and then. So

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those are the those are the only changes to staff

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as a whole. Like I said before, the salaries, we're looking, we look to please differently

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because we're trying to maintain a place in the market. Still not going to be the highest

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paid. Obviously, employees, we can't compete with everything. Some of the other organizations

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are doing it, but we did want to find a more competitive, we have lost employees to shoot

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at other departments. And then trying to keep an equitable cola for our, the balance of

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our employees and then across the board for police and for see how public works would

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be the 10% increase in the healthcare coverage for dependents and of 1% increase in the

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four times.

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So the additional cost that we on that half a percent is going to be approximately $11,000

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to the general fund.

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I like the 457, but just for historical purposes.

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We did that because we paired back what we were doing with TMRS.

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It had nothing to do with the assessor's committee.

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Three outplays, and that came from me.

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I apologize.

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The benefits for the employees come with HSA.

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We don't have HSA.

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So we're part of a pool with two other cities,

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the fire department and the water authority and so we go out as a group. HSAs have

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been discussed but I don't think there's been the support.

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It's not a hot

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deductible plan that would rate at HSA.

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We have our we maintain our cost at a

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decent level because we change providers almost as good from a cost benefit

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if it announces, but it's not good for your doctor.

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You do try to maintain at least an 85% over on providers, so lose

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a doctor, but it's

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still having to go to a new system, and I'm

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learning that right now with my own.

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So they'll start meeting in September because it run by the water authorities and the others.

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They're on a calendar year, none of this.

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I think we budgeted 10% increase.

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We didn't go the full, we thought, because we've had a good shot of keeping it lower.

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And then

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capital items continuing to, so

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this year was probably a place

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being held traffic improvements, hummed it, depil the station,

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tamulated pedestrian brakes underway, and Merlin Courtspring on the circle.

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Next year, we're looking at east-west crows. We had our kick-out meeting with them last week

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with the residents. So now it's dark soon.

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By May, for a while, the Circle of Echo Valley capital

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of a cruise building in design.

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Replacement to new patrol vehicles, we talked about before,

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we're switching to Durango's this year,

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which is showing us the sizeable savings,

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the vehicles, the system cheap lane,

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and it's a very research on what's available out there.

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A bit worth pick up truck,

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the car only vehicles for the infrastructure,

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updates to our servers,

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or wireless access and points.

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Continuation America, we have everything on us.

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A plot is, you know, we're a city that provides basic services

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we try to provide this really well and as far as continue trying to do and then it'll be a later item but all this is with a half-cent reduction question.

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I'd like to have two areas I'd like to cover. One is thank you for preparing this. It gives me a lot better feel.

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We've made a lot of positive move from

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number of years of work and all if I were making good strides to take care of our employees without breaking the bank.

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I would like to look at from a more long-term prospect here is the capital

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items and our fund balance. So we're going in and stripping out, proposing I

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think roughly three million of our fund balance, general fund.

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And then I want

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So looking at that number, versus replenishment, I want to make sure that we're prudent in our

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spin-down of the general fund balance. And we're that's comfortable.

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And so I kind of want to look at the page where you've got the five-year CIP plan

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and get a little explanation about what that means and how that impacts our fund

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balance over time.

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So maybe we're not selling more bonds. No our goal has been to

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use and what I've kind of the direction I've been given is built up this

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huge savings account. Let's show the citizens we're using their money and we're not

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up our capital projects are last but we

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all the road projects come off or

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survey we did a couple

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years ago combined with where

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I know that I'm really looking at the numbers okay and I want to

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know how far are we comfortable spending that down what is the static amount that we want in the

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fund balance before we're like we got a problem we need to raise taxes we have I think our policy

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is 90 days. Well, but can we, but just to be clear, right? They're just talking about

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the general reserve for operating spends, but I think we need to be looking at, not just,

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you know, looking at that, you're looking at like what money we have set aside for actual

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capital improvements moving forward, yes? Well, because we're going to be spending more

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in capital improvements than we're setting aside for capital improvements every year.

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So we're

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I want to know what that looks like.

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Yeah, and not had to do that because we sold bonds and we had to do all that.

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The last few projects we've done outside of Bride and Place have been cash that Bride

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and Place was our last bond fund.

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But the goal was to get it down that having 10, 11 million in the bank was too much.

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We had these projects, let's start looking at those projects.

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Now all you're adopting on the five-year plan is next year, that's the only one you're

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I don't understand. This is a very, I'm not talking about this year. I'm looking for a very practical look out there.

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We know that probably around at this rate, probably around year four or five, we're going to have to depending on how what are, you know,

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we go to the audit and we carry money over. That's typically how we keep it going, that we'll have to look inside.

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Our is our pace not that we can continue or do or do we need to put together a package? Is there a bond bag? Is that a possibility?

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What's the what's the magic number right now for the proposed FY27 budget at

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25% which is

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$7 almost $3.8 million of unrestricted.

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under restrictive on

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the sheet that in the budget for the general from summary page, we're

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projecting at the end of that fly 27. That's the three using $3 million of fund balance.

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We would have 10.25 percent is 3.7. So we're still 7 million over at the end of next year?

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We have 7 million over that 25 percent. Okay, we're 25 percent of our budget is 3.8 million.

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That's kind of what the policy is, it's really operating expenses.

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You would drop out capital items, vehicles, whatever.

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The idea is worst case scenario, we could pay our bills for four months and be fine.

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If all of a sudden, every tax dried up and every fee dried up, we could operate for four

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months and try to get back on track without...

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So we have that that's the three points that we don't have

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But it always stays there. Historically, where have we kept it? What's the number? I just really want to know. We don't want to go block keeping it around 10 to 11 and that 10 to 11 million range. We just we haven't been a couple million, but then by what we contribute and what we carry over the following year, we're staying pretty even for FY 24. It was a hundred and nineteen point.

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29% 25

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like 120 some percent this

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is an actual budget. So right now we cover fully

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another another way to look at it too is like in this budget

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We're spending proposing to spend one billion almost 3.2 million upon balance in the general month and then

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It's like 800 and some thousand utility fund of 700 some thousand utility fund balance

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So that is $3.8 million, but the CIP for this year.

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Well, I guess what I'll say is we can't keep that rate

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or spending up at some point.

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It's going to, I mean, that's where I'm going to go.

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At some point we would have to borrow money again on the next big project.

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I mean, we've been in the position of having all of this money

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because when those bonds were floated, we did a huge section of the city

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And the decision was made that we weren't going to do it all in one fell swoop

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So it wasn't going to be one year of construction or two years of construction that we were going to phase that out

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So we kind of sat on that reserve of bond money for

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Well, it's not the bond money you're sitting on because the bond money is spent what you've been sitting on is

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ex-revenues have been coming in

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And your building up your savings account every year of cash that comes in from taxes, but we have had a fund

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And we've had had money from the bond until like a year ago.

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We had money.

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Yeah, yeah.

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But that's an arbitrage on it.

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A portion of it.

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Yeah.

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Right.

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But we have been with them.

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Yeah.

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But we've had this other huge pile of cash in the savings account.

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But talking about the burn rate, FY27 is proposed at $0.39 million on CIP, FY28 is 5.3 million.

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This is for the CIP.

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Where does that leave our fund balance? That's what I want to know. I just want to know like

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we have one more year of on this five year CIP plan a very similar

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expense 5.0 million versus 5.3. Then the FY29 is 2.8. But where does that

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like I'm not I'm I'm just trying to make it simple and

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how much is left after the how much is like that 10 11 weeks after 20 when we buy

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the boat and the lighthouse how much money

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on our big spend, so after we've spent 5 million and 5.3 million, how much money we have left

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in our journal fund balance?

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At the end of 527 proposed, we're looking at a little bit over 10 million

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dollars. And then the next year, we need to spend 5.3 and CIT. But remember, part of that's coming from

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utility fund, part of it's coming from the general fund. And each year, when we do the budget,

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it, like in that example, where we need three million from the General Fund of Unbalanced,

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the total spend of this that's allocated to the General Fund is over four million.

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Because we have almost a million dollars of excess revenue versus excess operating expenses

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in FY27's budget.

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So we're using some of that.

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We're trying to save their 10-year bill.

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I understand.

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If I made our bill, a million of it's going to be money that we had, that we're having

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current.

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That we're raising out of our current money.

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There's a certain amount coming out of a utility fund.

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That's not part of the general fund balance.

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Yeah, because like each one of them.

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How much is that?

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For each item, it says like what percentage of utility fund, what percentage of general fund?

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So just looking at this quick numbers can be kind of like a quick answer if we were at a

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little bit over 10 million at the end of FY27 and then we needed to spend $5.3 million

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in FY28, you'd be like last 5 million, well no, because we're probably going to have

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a million in excess.

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So we're down to 4, right?

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No, that adds to that.

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Now we're at 6 million and then some of the total funds, so I would say by the end of FY28

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We would still be between $78 million of general fund.

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We had, so before the bonds were issued, the money that council had talked about building

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into the tax rate, the capital improvement projects, started at $1.5 million, and at some

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point after that, I don't remember the duration of years, it was increased to $175.

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And then when the idea of flugging the bonds for the election came about, we were trying

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to understand how much of that 1.75 that's available within the budget that we baked

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into the tax rate, how much of that did we want to use to fund bonds.

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And the decision was made, I forget what the number was, but it wasn't all of it.

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We weren't going to borrow enough money to have to pay each year 1.75 for those bonds.

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So it was there was a delta in there and I forget exactly what the delta was it was seven or eight hundred thousand dollars, but

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Following if we followed that pattern, right that that was still baked into the tax rate

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Which for the most part it has been baked into the tax rate because we haven't adjusted the tax rate

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But those bonds have been paid off so every year after those bonds are being paid off and less money is going to pay the debt

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That's more money in the general fund with with that amount that was built into the tax rate

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So I would have to assume after we've paid all the bonds off that we issued, that we would still have somewhere in the neighborhood of 1.75 million that's baked into that tax rate.

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Is that not accurate?

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I would think so.

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What we can do.

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It's something's baked into that tax rate.

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There's no way that evaporated because we're not paying dead.

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We're not paying the same debt on those bonds last year that we paid ten years ago.

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So there's money baked into that tax rate that will fund capital improvements, we just need to know what that amount is after we've done the projects on the five-year plan.

222
00:21:52,650 --> 00:22:00,330
Typically, the vast, this current year and the proposed year, it's near million dollars

223
00:22:02,440 --> 00:22:05,480
based on current expenditures.

224
00:22:06,180 --> 00:22:10,120
What's our debt service a year on our current bond?

225
00:22:17,000 --> 00:22:18,420
1.8.

226
00:22:25,980 --> 00:22:26,740
And how long does that go?

227
00:22:27,360 --> 00:22:28,540
That's not a revenue bond.

228
00:22:34,980 --> 00:22:38,080
Wait, what's the, what's the length of a bond?

229
00:22:47,340 --> 00:22:48,800
Yeah, last year, it was in 2013.

230
00:22:50,200 --> 00:22:53,340
But it greatly drops off at 2036.

231
00:22:53,920 --> 00:22:54,700
It's almost cut in half.

232
00:22:56,260 --> 00:23:00,510
We got to have a sub two percent.

233
00:23:01,110 --> 00:23:01,550
Yeah, that's right.

234
00:23:04,680 --> 00:23:05,840
Well, what will we do?

235
00:23:07,080 --> 00:23:07,860
Yeah, say my concern.

236
00:23:08,160 --> 00:23:10,860
I don't want, I don't want to plan five years.

237
00:23:13,480 --> 00:23:16,800
It's the same question about lowering the tax rate, right?

238
00:23:16,980 --> 00:23:20,300
I mean, you want to take into consideration what we're doing.

239
00:23:20,860 --> 00:23:23,700
But you also don't want to lower to a point where in three years you wake up

240
00:23:23,700 --> 00:23:25,660
and you're not entering enough to hit your projects,

241
00:23:26,100 --> 00:23:28,560
and then you've got to look at raising it again.

242
00:23:29,260 --> 00:23:32,940
I think the big question is, okay, so what was Brighton?

243
00:23:33,300 --> 00:23:34,060
Brighton was what?

244
00:23:34,660 --> 00:23:36,060
We paid what for Brighton?

245
00:23:38,350 --> 00:23:39,450
You have last year's COP.

246
00:23:47,320 --> 00:23:49,420
Brighton had to be one of the single largest.

247
00:23:49,420 --> 00:23:50,620
Oh, yeah, yeah, yeah, yeah, that's right.

248
00:23:50,840 --> 00:23:53,600
Like right now, what we're doing these last two years

249
00:23:53,600 --> 00:23:55,940
is we're going through, we're getting the scraps.

250
00:23:56,660 --> 00:23:58,060
We're getting these little sections of roads

251
00:23:58,560 --> 00:24:02,260
that have had problems where either they're just small

252
00:24:02,260 --> 00:24:04,960
cul-de-sacs, or a part of it was done 10 years ago,

253
00:24:05,060 --> 00:24:06,480
but for some reason, as far as it makes them,

254
00:24:06,480 --> 00:24:07,180
we're going to fix it.

255
00:24:07,900 --> 00:24:10,080
Are we doing this about $7.5 million?

256
00:24:10,520 --> 00:24:13,760
OK, and that's seven point, that is a project

257
00:24:13,760 --> 00:24:17,920
that we are not going to be around to see done again.

258
00:24:17,920 --> 00:24:20,580
and that's a 30-year-old project.

259
00:24:20,900 --> 00:24:23,020
At a minimum, that's a 30-year-old project.

260
00:24:24,920 --> 00:24:27,240
So I'm like, what thing is that there

261
00:24:27,240 --> 00:24:29,600
were looking at five years out, six years out,

262
00:24:29,720 --> 00:24:33,500
eight years out, that's going to require $10 million.

263
00:24:33,980 --> 00:24:35,500
And if it did require $10 million,

264
00:24:36,020 --> 00:24:37,960
I think what we would do the same thing

265
00:24:37,960 --> 00:24:39,640
that we did 10 years ago, which was,

266
00:24:39,980 --> 00:24:41,160
we'd be looking at floating debt.

267
00:24:41,840 --> 00:24:44,860
I agree with you today, but we need to know how much money

268
00:24:44,860 --> 00:24:51,020
We have to do small capital improvement projects, but anything large that's coming in the next 10 or 15 years

269
00:24:51,020 --> 00:24:58,300
I don't see how we wouldn't issue debt to cover that as opposed to continuing to take money and put it in the bank as if we're gonna

270
00:24:58,300 --> 00:25:00,820
They cash for all of that. We could work on a

271
00:25:01,620 --> 00:25:02,020
projection

272
00:25:03,100 --> 00:25:05,120
For for the next couple of years I mean

273
00:25:05,120 --> 00:25:11,380
Part of the estimating but based on kind of historically what we end of the year with and carry it over

274
00:25:11,380 --> 00:25:13,960
It would be like a door-to-door assessment.

275
00:25:14,660 --> 00:25:20,260
I would say, can you overlay the assessment that we have to know, just like Alan said,

276
00:25:20,740 --> 00:25:24,060
what big things are staying out there that will need to be.

277
00:25:24,060 --> 00:25:24,740
Windsor next big.

278
00:25:26,520 --> 00:25:32,580
No, and not just that, but how do we, because the makeup of this is going to change,

279
00:25:32,840 --> 00:25:37,660
because it's constantly changing, the council members and the mayor, and I'm like,

280
00:25:37,660 --> 00:25:42,920
So, what is the strategy for paying for capital projects moving forward?

281
00:25:43,580 --> 00:25:48,080
I mean, that was the issue 20 years ago when the whole thing started was, are we going

282
00:25:48,080 --> 00:25:48,680
to pay cash?

283
00:25:48,900 --> 00:25:49,560
We're going to do bonds.

284
00:25:50,000 --> 00:25:54,600
And the first go around, bonds didn't, we didn't do it, and then went around again.

285
00:25:54,900 --> 00:25:56,780
You'll guess the second time, right?

286
00:25:57,200 --> 00:26:01,580
We issue three sets of bonds for all of these projects and the residents said, yes, that's

287
00:26:01,580 --> 00:26:02,180
what we want to do.

288
00:26:02,180 --> 00:26:09,640
I think the City of Spring Valley Village is in a position today in moving forward that

289
00:26:09,640 --> 00:26:13,220
the residents would support financing large capital improvement projects.

290
00:26:13,460 --> 00:26:17,580
We wouldn't be trying to do that with cash that we acquired over the course of 10 or 15

291
00:26:17,580 --> 00:26:17,920
years.

292
00:26:18,700 --> 00:26:20,060
But I don't disagree with you.

293
00:26:20,200 --> 00:26:27,420
My point of tonight is I would like to see a schedule that shows me based on this, based

294
00:26:27,420 --> 00:26:36,120
upon how much revenue growth that we've had and based upon these numbers, what number do

295
00:26:36,120 --> 00:26:36,840
we get down to?

296
00:26:36,920 --> 00:26:42,160
Yeah, I think you take page 51 and at the very bottom you put end-of-year fund balance

297
00:26:43,580 --> 00:26:50,420
and then, well, you'd put addition from general budget, you know, revenues over expenses there's

298
00:26:50,420 --> 00:26:56,900
going to be some profit and then you'll get an end-of-year fund balance, it'll be an estimate

299
00:26:56,900 --> 00:26:59,920
But you know, that's what you do if I've your plan. That's what I think

300
00:27:00,500 --> 00:27:07,540
Page 51 used to have two three lines two three lines at the end and that'll get you a fun balance of every every year

301
00:27:07,540 --> 00:27:13,920
Because I think we want to be able to going forward have that documented so that we can make a

302
00:27:14,780 --> 00:27:21,100
Decision about what's the number that we don't want to go below? I don't want to get down to 3.8 million

303
00:27:21,900 --> 00:27:26,860
I might want twice that. I mean, you guys might want to do it in a half time. I mean, whatever

304
00:27:26,860 --> 00:27:31,420
that never happens. Yeah, but if it's something I'm saying may come up and you've got to go do it.

305
00:27:32,420 --> 00:27:39,420
You want to be able to have some room. So even if you have to handle something, you're not tipping

306
00:27:39,420 --> 00:27:40,460
below your minimum.

307
00:27:43,700 --> 00:27:45,180
I don't think that impacts.

308
00:27:52,690 --> 00:27:55,910
I see these big numbers and I'm getting a little

309
00:27:55,910 --> 00:27:58,750
nervous thinking about what the implications are.

310
00:27:59,090 --> 00:28:06,530
So I would only ask about the tax rate, I mean we're talking about low in the overall scheme

311
00:28:06,530 --> 00:28:07,150
of things.

312
00:28:07,830 --> 00:28:12,990
What do you think that are the residents, the constituents, people in the city, really

313
00:28:12,990 --> 00:28:18,930
think about that if they come back to them in three years for a hike, where the lowest

314
00:28:18,930 --> 00:28:24,130
around right now, my thought process, and I'm not saying this is what I'm standing up to,

315
00:28:24,130 --> 00:28:30,130
It would be to leave the tax rate where it is and let's keep that money coming in just to do what we're talking about a rainy day

316
00:28:30,130 --> 00:28:36,750
Fund rather than lower the tax rate come back and two to three years and get it back again. I have one question about that

317
00:28:36,750 --> 00:28:45,170
Is not I saw in there then no new tax rate was like 3.9 for we had to lower it a little bit

318
00:28:45,990 --> 00:28:50,150
We had to come down just because of our the growth we've had in our tax base

319
00:28:50,570 --> 00:28:58,370
So, but it would so it would be, you know, 3.4, 2.4, and then revenue rate is 0.3,

320
00:29:04,810 --> 00:29:06,210
3.4, 4.4.

321
00:29:06,210 --> 00:29:11,390
Yeah, it's real close, but it's 3.9, 4.4, and change.

322
00:29:11,610 --> 00:29:15,330
And then you could, we could dedicate that difference to the capital.

323
00:29:17,070 --> 00:29:17,450
What's that?

324
00:29:19,950 --> 00:29:20,210
What's that?

325
00:29:21,050 --> 00:29:21,290
80.

326
00:29:21,890 --> 00:29:22,310
80?

327
00:29:24,840 --> 00:29:26,360
80, about 80 thousand dollars.

328
00:29:27,100 --> 00:29:28,160
There's no way we're going.

329
00:29:28,160 --> 00:29:32,120
I understand the rationale of, hey, we're lowering in and then we're raising, I'm like,

330
00:29:32,300 --> 00:29:37,220
we're not going to be raising the tax rate half a cent to try to get $80,000 capital.

331
00:29:37,300 --> 00:29:38,740
But that's the thing too, right?

332
00:29:38,840 --> 00:29:44,220
I mean, $80,000, this kind of discussion last year, $80,000 is all, I mean, realistically,

333
00:29:44,560 --> 00:29:50,340
spread across 1,200 homes and some businesses is-

334
00:29:50,340 --> 00:29:54,560
I could use that same rationale to say, hey, I should just take another $100 from every resident.

335
00:29:55,000 --> 00:29:57,180
Let's just take it up to 0.42.

336
00:29:57,180 --> 00:29:59,980
I want a wise guy that you...

337
00:30:00,000 --> 00:30:04,480
Should I see two people in the advises against lower.

338
00:30:06,720 --> 00:30:31,960
Chapter two. But it's I like it would have to be lowered. Right. Can you remind me we held it. See? Or did we? I like to get that start where we show. Would our type. It has been flat for the last three years. Okay. Verses. Other villages were way looks like a heart. Oh yeah. Right. I that's, I always liked that graphic. I'm just saying. Especially.

339
00:30:31,960 --> 00:30:35,380
soon we, you know, in September to show kind of where we are,

340
00:30:37,680 --> 00:30:39,500
I just, I, you know, we,

341
00:30:39,540 --> 00:30:44,900
we had, we talked about measures. We had a previous mayor that wanted to see that line

342
00:30:44,900 --> 00:30:49,980
go down. We've had a previous, previous mayor that said, be cautious and let's try to

343
00:30:49,980 --> 00:30:54,260
hold that number before we start getting to a place where we have a heartbeat for like these

344
00:30:54,260 --> 00:31:00,380
images. But I think lowering the tax rate to even say that we're lowering the tax rate to

345
00:31:00,380 --> 00:31:06,500
me that would be like we're coming forward saying we want point two eight and I'm like we're

346
00:31:06,500 --> 00:31:13,640
not saying that we're saying half a cent and the idea behind that is is every other taxing

347
00:31:13,640 --> 00:31:19,020
authority is taking a greater percentage every year and every resident in spring valley

348
00:31:19,020 --> 00:31:24,000
I'd be hard pressed to find someone who's appraisal didn't go up so even with the rate the same

349
00:31:24,000 --> 00:31:29,520
We're clawing more money out of everybody and we are we are we are the healthy village

350
00:31:30,000 --> 00:31:34,120
We got night we got it over 90 days of general reserves

351
00:31:34,120 --> 00:31:37,700
But you got to look at why we're healthy and one of them is because we don't lower the tax rate

352
00:31:38,200 --> 00:31:44,620
But again every year I wouldn't say we're really lowering the tax rate to me lower in the tax rate would be like trying the tax rate

353
00:31:44,620 --> 00:31:45,720
We're not lowering the taxes

354
00:31:47,080 --> 00:31:52,140
Which has been the complaint from the rest since forever right like oh, that's great

355
00:31:52,140 --> 00:31:58,680
you dropped it a half percent. It doesn't really help me. I'm still paying out more than

356
00:31:58,680 --> 00:32:02,600
I paid last year. You're still getting more of my money. Okay. Let me show the last year

357
00:32:02,600 --> 00:32:09,360
of this year, we're not breaking your 8% and commercial we're not about 3% and the total

358
00:32:09,360 --> 00:32:10,960
overall net percent.

359
00:32:13,140 --> 00:32:16,420
For the city. That's what I mean for our, that's your saying in general.

360
00:32:18,590 --> 00:32:26,980
And we can leave it at, you know, Council can leave it at 3.9, but 39 cents for next

361
00:32:26,980 --> 00:32:31,040
year's well you know we talked about that before is we haven't lowered it in a

362
00:32:31,040 --> 00:32:36,100
couple of years it's just you know this right works with what we're trying to do

363
00:32:36,100 --> 00:32:40,480
it fits in the budget and then maybe bring it down and then you stay stay

364
00:32:40,480 --> 00:32:45,280
stable for a couple of years because rates are I mean this is not an area that's

365
00:32:45,280 --> 00:32:54,100
going to drop. I tend to be in line with Steve that going and lowering it to

366
00:32:54,100 --> 00:32:59,540
whatever the state mandate to level is without having to have a public hearing 3.94 or whatever

367
00:32:59,540 --> 00:33:09,110
the number is. Because it's not going to be meaningful to our residents but cumulatively it's

368
00:33:09,110 --> 00:33:17,260
more meaningful to us, maybe to the city and I think the rationale is, you know, we don't want to

369
00:33:17,260 --> 00:33:24,840
issue new bonds until we have to and we have that excess revenue and it allows us to afford more

370
00:33:24,840 --> 00:33:31,460
project. And I would say that's true if we're reducing it to some or not. We're

371
00:33:31,460 --> 00:33:37,160
reducing it $80,000 in total in one budget. It is cumulative. I mean, let's

372
00:33:39,400 --> 00:33:40,040
go back

373
00:33:40,040 --> 00:33:44,640
to just general questions about other budget items. Does anybody have any other

374
00:33:44,640 --> 00:33:50,560
questions? Is there more that you want to present? Well, that's said that we we'd had

375
00:33:50,560 --> 00:33:54,240
a pretty good discussion about it in June and I just want to go over the changes

376
00:34:18,860 --> 00:34:23,520
is that we added to it and make sure we reached out to all the other senior administrators

377
00:34:23,520 --> 00:34:27,400
this afternoon. Okay, because I don't want to start playing that game like we're playing

378
00:34:27,400 --> 00:34:34,120
with painting with... You know, you can't help it as I... I mean, we came out with the number

379
00:34:34,120 --> 00:34:37,120
on our own, and then we wanted to see where we sat.

380
00:34:42,080 --> 00:34:45,280
Okay, well... I don't need any more

381
00:34:45,280 --> 00:34:47,340
discussion. I will entertain a budget.

382
00:34:49,630 --> 00:34:53,670
No motion needed for the first discussion. We're

383
00:34:53,670 --> 00:34:58,050
not voting on anything. No, that's not on the budget's knee. We'll take this. We'll put

384
00:34:58,050 --> 00:35:04,530
together kind of of a projection of kind of what we think about the tax. The tax is next.

385
00:35:04,970 --> 00:35:09,550
Okay. We have to need 2.2. We have to put it on. Sorry. So the next one will adopt

386
00:35:11,510 --> 00:35:16,150
acceptance of the rates and then the third one will be discussion on the actual matter.

387
00:35:16,750 --> 00:35:22,530
All right. So the draft budget's been presented, consideration, possible action concerning,

388
00:35:22,530 --> 00:35:28,730
that we have no new revenue tax rate and a voter approval tax rate at fiscal year

389
00:35:28,730 --> 00:35:35,030
2027. So that is the 3.9 for?

390
00:35:35,530 --> 00:35:42,110
Yes, this is just that worksheet we included in your packets, the truth and taxation

391
00:35:43,110 --> 00:35:48,970
that goes over all the numbers that was finalized with the help of the tax assessor's office.

392
00:35:48,970 --> 00:35:52,330
So we just, this is just a motion, basically,

393
00:35:52,510 --> 00:35:55,490
accepting, accepting, accepting, accepting, accepting what it is.

394
00:35:55,930 --> 00:35:58,570
Okay. So, any, you want to go ahead and,

395
00:35:59,050 --> 00:36:02,890
please. Okay. I make a motion to accept,

396
00:36:03,210 --> 00:36:08,230
this is the school year 2026, 2027, no new revenue tax rate at,

397
00:36:09,510 --> 00:36:10,770
do I say this here?

398
00:36:10,910 --> 00:36:13,350
It is 0.39.

399
00:36:13,350 --> 00:36:19,070
point three, nine, four, four, three, four per $100 valuation and the voter approval tax

400
00:36:19,070 --> 00:36:22,630
rate at point four, seven, two, one, two, four.

401
00:36:29,460 --> 00:36:30,000
All in favor?

402
00:36:30,680 --> 00:36:30,880
All right.

403
00:36:31,520 --> 00:36:31,680
All right.

404
00:36:31,840 --> 00:36:32,160
Any opposed?

405
00:36:32,740 --> 00:36:32,820
Nope.

406
00:36:33,460 --> 00:36:33,580
Okay.

407
00:36:33,880 --> 00:36:34,380
That's accepted.

408
00:36:35,020 --> 00:36:35,540
All right.

409
00:36:35,800 --> 00:36:37,160
Item number 2.3.

410
00:36:38,740 --> 00:36:47,520
Proposing a tax rate per $100 valuation to 50 years beginning October 1st, 2026, ending

411
00:37:06,360 --> 00:37:19,900
I would move that we leave the proposed tax rate where it is and not lower it except we're mandated by the state.

412
00:37:22,440 --> 00:37:30,340
There is a there is a mandate from the state that we have to go down right. Yeah. So that's the number. Yes, it's so you avoid an election. Right.

413
00:37:33,710 --> 00:37:34,070
That's right.

414
00:37:37,330 --> 00:37:42,110
So is that what you're. That's right. Yes, that's what was it. We just stay where we are except for the mandated decrease.

415
00:37:42,110 --> 00:37:43,490
somebody want to talk about?

416
00:37:48,190 --> 00:37:53,450
I'll second it. That's fine. We can have some discussion. Okay, okay. I'll second it so you're

417
00:37:53,450 --> 00:37:54,050
excessive. Okay.

418
00:37:56,130 --> 00:37:58,150
I want three notes. Okay.

419
00:38:01,990 --> 00:38:04,470
Well, I guess we should have a vote on it.

420
00:38:06,480 --> 00:38:07,480
So just to be

421
00:38:07,480 --> 00:38:14,140
just clarify. Are you on? Can we hear you? Make sure we can hear you? Yeah. Can you? Can you? Yeah.

422
00:38:16,280 --> 00:38:25,160
My comment is the point 394 or 390, we're talking about $60,000 or $80,000, it's pretty

423
00:38:25,160 --> 00:38:31,300
minimal and I understand that having to go back in future years and go to higher rate

424
00:38:31,630 --> 00:38:32,780
is never a good thing.

425
00:38:34,600 --> 00:38:42,560
So if it's got to go to 394, that's okay, but I think it's all pretty marginal at this

426
00:38:42,560 --> 00:38:47,140
point in time. If I had to go through and cut out 60 grand out of our budget to make it

427
00:38:47,140 --> 00:38:49,920
a three, that's not too hard to do.

428
00:38:52,020 --> 00:38:56,140
No, but it's not necessary either. Yeah, and I'm good

429
00:38:56,140 --> 00:39:01,220
either way. And, you know, for our residents, you're exactly right. Their values have been

430
00:39:01,220 --> 00:39:11,780
going up far greater than any, you know, point point, you know, a half a cent tax. So it's

431
00:39:11,780 --> 00:39:17,140
It's important that we operate our city in a way that provides a benefit to our homeowners.

432
00:39:18,820 --> 00:39:22,360
And as long as we keep that as our priority, I think we're in good shape.

433
00:39:23,760 --> 00:39:25,280
Okay. Mark, you got anything?

434
00:39:25,780 --> 00:39:31,540
Just one clarification. Our budget assumes the point 39 flat.

435
00:39:31,760 --> 00:39:40,920
Yes, so if council sets a higher rate, we would add that extra to our capital budget.

436
00:39:44,040 --> 00:40:01,610
Okay, I think a lot of us optics be great to show a tax decrease but I think I'm I mean technically we're cutting taxes ever so slightly right?

437
00:40:01,610 --> 00:40:10,970
by the state mandated formula, point 0.0, never mind.

438
00:40:11,150 --> 00:40:18,670
I mean it's from like, we're talking about 0.395 to 0.699 or something like that.

439
00:40:18,910 --> 00:40:24,630
Providing great service, great police, great administration, great roads.

440
00:40:25,590 --> 00:40:27,130
We're in a good job for the citizens.

441
00:40:28,730 --> 00:40:35,870
I don't like paying my taxes either, very much, but I'm happy to be sitting in spring

442
00:40:35,870 --> 00:40:42,510
valley, so I'm going to call the question all in favor of the motion.

443
00:40:47,870 --> 00:40:48,330
All abstain.

444
00:40:50,690 --> 00:40:51,390
I don't want to vote no.

445
00:40:52,990 --> 00:40:57,090
Okay, so I guess item 2.4 becomes unnecessary.

446
00:40:57,810 --> 00:40:59,670
No, 2.4 is just a budget.

447
00:40:59,670 --> 00:41:03,190
public here, public here, public here for the budget. We still have a public here for the budget.

448
00:41:03,410 --> 00:41:09,710
Okay. All right. It's the right possible action concerning time, place, and public

449
00:41:09,710 --> 00:41:19,110
here for the fiscal year 2027 proposed budget. And for 20 October, 2026, September, 2027.

450
00:41:20,070 --> 00:41:27,830
And the time, is there a proposed date for that? It would be September 22nd, 2026, at 6 p.m.

451
00:41:29,050 --> 00:41:35,130
I make a motion to hold we need to sorry we need to go back to item 2.3 because it

452
00:41:35,130 --> 00:41:37,410
only need to be a real call vote okay

453
00:41:39,740 --> 00:41:43,420
on the proposed right Jasmine would you please

454
00:41:43,420 --> 00:41:52,680
do a vote council member Steve Bass yes council member Allen Carpenter present

455
00:41:56,630 --> 00:42:03,930
Councilmember John listen be yes Councilmember Joy McCormick yes Councilmember Mark Taylor. Yes. Sorry.

456
00:42:10,260 --> 00:42:10,860
Do we say so?

457
00:42:10,940 --> 00:42:12,460
30 seconds. That's all right.

458
00:42:13,940 --> 00:42:21,980
So that'll be the only one you're hearing. Okay back to 2.4. Do we need a we need a motion?

459
00:42:21,980 --> 00:42:31,980
Okay, I make a motion that we hold our public hearing on September 22, 2026 at 6 a.m. at the Spring Valley Village City Hall.

460
00:42:32,540 --> 00:42:40,440
I'll second. All in favor? I have a motion for adjournment.

461
00:42:40,440 --> 00:42:41,020
Tell me.

462
00:42:41,360 --> 00:42:42,000
Say good.

463
00:42:42,840 --> 00:42:43,480
My favorite.

464
00:42:44,600 --> 00:42:44,760
Yeah.

465
00:42:45,500 --> 00:42:46,020
It's gas.

466
00:42:46,120 --> 00:42:47,440
Thank you all for putting a...

467
00:42:48,200 --> 00:42:48,600
What's up?