Fiscal Note
The resolution appropriates $110,000 from the General Fund unassigned balance to supplies in the Finance Department operating budget to cover the cost of printing and postage for an informational mailing on the upcoming property tax referendum. The referendum question was authorized by the Common Council on August 20, 2024, and will be included on the November 5, 2024 general election ballot.
The cost of the mailing includes printing and postage to send a postcard to the City’s estimated 150,500 residences and businesses, which includes 142,500 owner-occupied and rental properties and 8,000 businesses. The cost per postcard is approximately $0.68, which includes printing ($0.10), paper and cutting ($0.02), and postage ($0.56). The total cost is estimated to be $102,500 for known addresses; a contingency of $7,500 is included for any additional costs associated with the mailing.
The Finance Department has been engaging with the Common Council and residents on the City’s budget, structural deficit, and referendum, throughout 2024. The department has used multiple platforms for communications, including presentations to the Common Council, recorded informational videos, in-person meetings with the public, and virtual question and answer sessions. A citywide mailing has been used by other communities to inform all residents and voters about the effects of the municipal funding referendum on the November ballot.
Under state law, there is no Expenditure Restraint Incentive Program (ERIP) limit in 2024, so the net increase of $110,000 in General Fund appropriations will not affect the City’s eligibility to qualify for a state ERIP payment in 2024. However, the limit is reinstated for the 2025 budget. As such, the final amended amount appropriated for the 2024 budget will serve as the base for calculating the limit for the 2025 budget. The 2024 adopted operating budget is about $5.0 million below the base amount necessary to ensure that the cost-to...
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