CITY OF OLEAN, NEW YORK

COMPUTATION OF TAX LEVY

FOR THE FISCAL YEAR JUNE 1, 2007 TO MAY 31, 2008

Debt

General

Water

Sewer

Service

Fund

Fund

Fund

Fund

Budget Appropriations

$ 13,934,833

$ 3,194,264

$ 2,298,168

$ 1,686,655

Less:

Estimated Revenues Other Than

Real Estate Taxes

8,206,951

3,261,430

2,403,500

1,681,655

Appropriated Fund Balances and Reserves

-

5,000

Total Estimated Revenues, Appropriations

Fund Balances and Reserves

8,206,951

3,261,430

2,403,500

1,686,655

Balance of Appropriations to be Raised by

Real Estate Taxes

$ 5,727,882

Budgeted Surplus (Deficit) of Special Revenue Funds

$ 67,166

$ 105,332

Budgeted Surplus (Deficit) of Debt Service Fund

$ -

Assessed Valuations

$ 39,140,735

Tax Rate per $1,000 of Assessed Valuation

146.34