HomeMy WebLinkAbout2.D. 2013 Budget 4ROSEN4OUI\1f EXECUTIVE SUMMARY
CITY COUNCIL
City Council Work Session: November 14, 2012
AGENDA ITEM: 2013 Budget A ENDA SECTION:
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PREPARED BY: Dwight Johnson, City Administrator AGENDA NO.(2.D.
ATTACHMENTS: Budget summary sheets APPROVED BY:
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RECOMMENDED ACTION: Review updated information and determine any final changes
needed before the budget public hearing and adoption on December 4th
BACKGROUND
Following several work sessions on the budget over the summer, the Council adopted a preliminary
budget and tax levy on September 4t'.
Over the past two months,late information from Dakota County has indicated that our tax base is slightly
larger than originally estimated earlier this year. However, staff has also reviewed anticipated revenues
from interest and determined that they were too optimistic. Proposed interest revenues have been reduced
by$25,000 in our current draft budget based on current year results. A few other relatively minor
additions/corrections have also been made, the largest one being adding$4,000 to the Council's budget
line for Intergovernmental Initiatives to accommodate one or more potential projects with other cities that
may ultimately provide cost savings or economic development opportunities for us.
CONCLUSION:
The net result of the several changes is that taxes on the median home are still anticipated to drop slightly
from$854 to 851 under the currently proposed budget and tax levy.
While staff continues to work on potential cost saving measures and efficiencies,we are not far enough
along at this point to confidently lower the levy from the current recommendation. Continuing
uncertainties in the Fire Department and our next Engineering contract also indicate no further reductions
should be made at this time.
FUNDING REQUIREMENTS-USES
(INCLUDING FIRE STATION LEVY)
December 4,2012
2012 2013
Adopted Proposed +/-
Departments Budget Budget Difference Percentage
Council Budget $280,800 $247,700 ($33,100) -11.79%
Administration Budget 510,200 484,400 (25,800) -5.06%
Elections Budget 42,000 22,000 (20,000) -47.62%
Finance Budget 421,600 435,300 13,700 3.25%
General Government Budget 378,500 383,200 4,700 1.24%
Community Development Budget 898,400 896,800 (1,600) -0.18%
Police Budget 3,061,700 3,187,800 126,100 4.12%
Fire Budget 377,500 437,000 59,500 15.76%
Public Works Operating Budgets:
Government Buildings Budget 484,400 540,500 56,100 11.58%
Fleet Maintenance Budget 635,900 645,200 9,300 1.46%
Street Maintenance Budget 1,315,300 1,272,200 (43,100) -3.28%
Parks Maintenance Budget 764,700 739,100 (25,600) -3.35%
Park&Rec Budget-General Operating 1,085,300 1,130,000 44,700 4.12%
Park&Rec Budget-Steeple Ctr.Operations 58,900 64,500 5,600 9.51%
Park&Rec Budget-Senior/Activity Center 0 14,000 14,000 100.00%
Park&Rec Budget-Special Programs 101,600 113,900 12,300 12.11%
Transfers-Arena Assistance 115,000 115,000 0 0.00%
Total Operating Budgets-General Fund $10,531,800 $10,728,600 $196,800 1.87%
Transfers-Debt Service Levies 0 0 0 n/a
Total Of All Budgets-General Fund $10,531,800 $10,728,600 $196,800 1.87%
Building CIP Requirements 24,000 24,000 0 0.00%
Street CIP Requirements 720,000 730,000 10,000 1.39%
Equipment CIP Requirements 460,000 460,000 0 0.00%
Insurance Budget Requirements 245,000 245,000 0 0.00%
Port Authority Operating Levy 58,600 58,000 (600) -1.02%
Bonded Indebtedness 441,326 377,394 (63,932) -14.49%
Bonded Indebtedness-Fire Station Levy 0 0 0 0.00%
Armory Anticipatory Levy(Value 3/9/12) 86,000 86,000 0 0.00%
**$1,931,934,605 x.00798%=$154,168**
Water Enterprise Fund 1,261,900 1,330,300 68,400 5.42%
Sewer Enterprise Fund 1,780,400 1,782,200 1,800 0.10%
Storm Water Enterprise Fund 628,800 647,600 18,800 2.99%
Arena Enterprise Fund 451,600 485,800 34,200 7.57%
Total Funding Requirements $16,689,426 $16,954,894 $265,468 1.59%
NOTE: Special Levies include(1)Bonded Indebtedness,(2)Fire Station Levy and(3)Armory Anticipatory Levies.
FUNDING REQUIREMENTS-SOURCES
(INCLUDING FIRE STATION LEVY)
December 4,2012
2012 2013
Adopted Proposed +/-
Types Budget Budget Difference Percentage
Internal Revenue Generated:
Licenses and Permits 362,300 382,300 20,000 5.52%
Intergovernmental 634,500 643,100 8,600 1.36%
Charges for Services 668,400 663,000 (5,400) -0.81%
Fines&Forfeits 125,000 125,000 0 0.00%
Recreational Fees 254,900 263,200 8,300 3.26%
Miscellaneous Revenues 186,300 169,200 (17,100) -9.18%
Transfers In 3,500 3,500 0 0.00%
Enterprise Revenues 4,122,700 4,245,900 123,200 2.99%
Total Internal Revenues 6,357,600 6,495,200 137,600 2.16%
Levy Sources:
Special Levies 527,326 463,394 (63,932) -12.12%
General Levy 9,804,500 9,996,300 191,800 1.96%
---------------------------
Total Levy $10,331,826 $10,459,694 $127,868 1.24%
Loss of MVHC from State Funding $0 $0 $0 0.00%
Total Revenue Sources $16,689,426 $16,954,894 $265,468 , 1.59%
NOTE: Special Levies include(1)Bonded Indebtedness,(2)Fire Station Levy and(3)Armory Anticipatory Levies.
2012 GENERAL PROPERTY TAX LEVY PAYABLE 2013
GENERAL LEVY
GENERAL FUND $8,479,300
BUILDING CIP FUND $24,000
STREET CIP FUND $730,000
EQUIPMENT CIP FUND $460,000
INSURANCE FUND $245,000
PORT AUTHORITY OPERATING LEVY $58,000
TOTAL GENERAL LEVY $9,996,300
BONDED INDEBTEDNESS
G.O. CAPITAL IMPROVEMENT PLAN (CIP) BONDS 2005A(Authorized-$212,011) $212,011
G.O. IMPROVEMENT BONDS 2006B (Authorized-$266,872) $0
PUBLIC SAFETY REVENUE BONDS 2007(Dakota Communications Center) (Authorized-$60,638) $0
G.O. EQUIPMENT CERTIFICATES 2008A(Authorized-$92,811) $0
G.O. PUBLIC FACILITY REFUNDING BONDS 2010B (Old 2001C)(Port Authority)(Authorized-$165,383) $165,383
G.O. IMPROVEMENT BONDS 2011A(Authorized-$6,626) $0
TOTAL BONDED INDEBTEDNESS $377,394
MARKET VALUE BASED REFERENDUMS
G.O. FIRE STATION REFUNDING BONDS, 2005D(Authorized-$140,511) $0
TOTAL FIRE STATION LEVY $0
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES($1,931,934,605 x.00798%=$154,168) (As of 3/9/12) $86,000
(Authorized-$154,168-Only Levy Amount Due MSABC)
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS $86,000
GRAND TOTAL 2011 PROPERTY TAX LEVY $10,459,694
Last Updated 10/26/12
SPREAD LEVY COMPUTATIONAL WORKSHEET
(INCLUDING FIRE STATION LEVY)
(Proposed)
2010 2011 2012 2013
Total Funding Requirements 17,059,244 16,625,444 16,689,426 16,954,894
Less: Internal Revenues 6,332,500 6,092,800 6,357,600 6,495,200
Less: Market Value Based Levy-Fire Station(See Below) 142,273 143,654 0 0 (3)
Equals: Revenues Needed 10,584,471 10,388,990 10,331,826 10,459,694
Add Back in State MVHC Cuts to Reflect Actual Levy 412,575 429,507 0 0 (4)
Levy Certified by City to County Auditor 10,997,046 10,818,497 10,331,826 10,459,694
County Auditor Adjustments(All Subtractions):
Fiscal Disparities Distribution Levy(Metro Area) 1,195,913 1,299,717 1,252,954 1,235,453 (2)
Spread Levy Used to Compute Local Tax Rate 9,801,133 (1) 9,518,780 (1) 9,078,872 (1) 9,224,241
Increase/(Decrease)from Previous Year in Spread Levy -2.88% -4.62% 1.60%
Market Value Based Referendum Levy-Fire Station 142,273 143,654 0 0 (3)
(1) Actual Spread Levy Based on Numbers from Dakota County
(2) 2013 Number Provided by Dakota County as of 8/17/12
(3) For 2012&2013 No Levy Needed so No Impact on the Taxpayers
(4)The MVHC Program was Eliminated for 2012 and Replaced with a Market Value Exclusion Program
Last Updated-10/26/12
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