Form Lb-1 Sample - Notice Of Budget Hearing Page 4
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4Form LB-1 Sample
FORM
NOTICE OF BUDGET HEARING
LB-1
City Council
May 17
A meeting of the ___________________________________________________ will be held on ___________________________, 2001
(Date)
(Governing Body)
a.m.
7:00
Library, 234 Main Street
X
at _______
p.m. at _______________________________________________. The purpose of this meeting is to discuss the budget for
(Location)
City of Illustration
the fiscal year beginning July 1, 2001 as approved by the _______________________________________________ Budget Committee.
(Municipal Corporation)
City Hall
A summary of the budget is presented below. A copy of the budget may be inspected or obtained at _____________________________
Financial Summary shows
123 Mail Street
8:00am
4:30pm
________________________________________ between the hours of ___________ and ___________. This budget was prepared on
total of expenditures of all
(Street Address)
funds. For example:
X
a basis of accounting that is
consistent;
not consistent with the basis of accounting used during the preceding year. Major changes,
$20,000— from General
if any, and their effect on the budget, are explained below.
Fund (LB-3)
County
City
Chairperson of Governing Body
Telephone Number
503
378-0000
$10,000— from Equip-
Sample
Illustration
A. Test
(
)
ment Fund
FINANCIAL SUMMARY
(LB-2)
Adopted Budget
Approved Budget
Check this box if your
TOTAL OF ALL FUNDS
This Year — 2000–2001
Next Year — 2001–2002
budget only has one fund.
116,050
120,000
1. Total Personal Services
Include prior years’ taxes
51,200
53,000
2. Total Materials and Supplies
on line 10.
31,000
30,000
3. Total Capital Outlay
3,220
2,760
4. Total Debt Service
Anticipated
0
4,000
5. Total Transfers
Estimate the amount the
Requirements
10,000
12,000
6. Total Contingencies
district will lose because
13,000
7,000
7. Total All Other Expenditures and Requirements
of the constitutional
2,800
2,500
8. Total Unappropriated Ending Fund Balance
limits (Measure 5).
227,270
231,260
9. Total Requirements — add lines 1 through 8
132,233
130,849
10. Total Resources Except Property Taxes
Anticipated
95,037
100,411
The percentage you use to
11. Total Property Taxes Estimated to be Received
Resources
227,270
231,260
figure estimated taxes not
12. Total Resources — add lines 10 and 11
95,037
100,411
13. Total Property Taxes Estimated to be Received (line 11)
to be received because of
Estimated
14. Plus: Estimated Property Taxes Not to be Received
discounts and uncollected
Ad Valorem
11,830
13,951
A. Loss Due to Constitutional Limits
taxes should be the same
Property Taxes
7,154
7,558
B. Discounts Allowed, Other Uncollected Amounts
for all funds.
15. Total Tax Levied — add lines 13 and 14
114,021
121,920
Rate or Amount
Rate or Amount
1.7000
Tax Levies
1.7000
1.7000
16. Permanent Rate Limit Levy (rate limit __________)
By Type
.7510
5,000 & .7510
17. Local Option Taxes
Budget committee
6,473
5,656
18. Levy for Bonded Debt or Obligations
approved taxes.
STATEMENT OF INDEBTEDNESS
Debt Outstanding
Debt Authorized, Not Incurred
X
X
None
As Summarized Below
None
As Summarized Below
PUBLISH BELOW ONLY IF COMPLETED
Estimated Debt Outstanding at the
Estimated Debt Authorized, Not Incurred at the
Beginning of the Budget Year
Beginning of the Budget Year
Long-Term Debt
July 1, 2001–2002 Approved Budget Year
July 1, 2001–2002 Approved Budget Year
250,000
Bonds
Interest Bearing Warrants
Other
250,000
Total Indebtedness
Short-Term Debt
This budget includes the intention to borrow in anticipation of revenue (“Short-Term Borrowing”) as summarized below:
Estimated Amount
Estimated
Estimated
FUND LIABLE
to be Borrowed
Interest Rate
Interest Cost
150-504-001 (Rev. 11-00)
If you only have one fund,
you are only required to
publish the LB-1 form. Check
this box to indicate that there
is no LB-2, LB-3, or LB-4.
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