CITY OF OLEAN, NEW YORK

COMPUTATION OF TAX LEVY

FOR THE FISCAL YEAR JUNE 1, 2002 TO MAY 31, 2003

Debt

General

Water

Sewer

Service

Fund

Fund

Fund

Fund

Budget Appropriations

$ 12,485,005

$ 1,692,500

$ 1,385,000

$ 653,113

Less:

Estimated Revenues Other Than Real Estate Taxes

7,947,325

1,692,500

1,385,000

603,113

Appropriated Fund Balances and Reserves

500,000

-

-

50,000

Total Estimated Revenues, Appropriations, Fund Balances and Reserves

8,447,325

1,692,500

1,385,000

653,113

Balance of Appropriations to be Raised by Real Estate Taxes

$ 4,037,680

Budgeted Surplus (Deficit) of Special Revenue Funds

$ -

$ -

Budgeted Surplus (Deficit) of Debt Service Fund

$ -

Assessed Valuations

$ 41,106,509

Tax Rate per $1,000 of Assessed Valuation

98.22