HomeMy WebLinkAbout10.a. Resolution Setting 2005 Preliminary Levy and Budget Hearing Datesr
AGENDA ITEM: Resolution Setting 2005 Preliminary Levy
and Budget Hearing Dates
AGENDA SECTION:
New Business
PREPARED BY: Jeff May, Finance Director
AGENDA tsm 010A
A
ATTACHMENTS: Resolution, County Levy Hearing
Forms, and 2006 Preliminary Budget
Summary Pages
APPROVED BY:
RECOMMENDED ACTION: Motion to adopt A RESOLUTION SETTING THE
PRELIMINARY 2006 GENERAL FUND OPERATING BUDGET, THE PRELIMINARY 2006
C I.P. BUDGETS, THE PRELIMINARY 2006 INSURANCE BUDGET, THE PRELIMINARY
2006 PORT AUTHORITY OPERATING LEVY AND THE PRELIMINARY 2005 LEVY AND
BUDGET HEARING DATES REQUIRED BY THE CITY OF ROSEMOUNT.
4ROSEMOUNT
CITY COUNCIL
City Council Meeting Date: September 6, 2005
EXECUTIVE SUMMARY
ISSUE
Adopt the preliminary levy for 2005, set the hearing dates required by the Truth -In- Taxation laws, and
adopt the prehirunary budgets for 2006.
BACKGROUND
This item is on the agenda for Council to formally approve the preluminary levy and budgets for 2006 as
required by law and to set the hearing dates for the Truth -In- Taxation requirements The information
Included in the packet should include all of the summary information that was discussed at the last budget
workshop held on August 10` There have been some updated numbers from the County that are
reflected in this mformanon that more accurately reflect the City's tax rate with the proposed levy
Ongoing discussions will occur later in September, October and November to fmahze the budgets prior to
adoption of the final budget and levy in December.
SUMMARY
Recommend the above motion to approve the 2005 preliminary levy, the hearing dates and the preluninaiy
budgets for 2006.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2005
A RESOLUTION SETTING THE PRELIMINARY 2006 GENERAL FUND OPERATING
BUDGET, THE PRELIMINARY 2006 C.I.P. BUDGETS,
THE PRELIMINARY 2006 INSURANCE BUDGET, THE PRELIMINARY 2006 PORT
AUTHORITY OPERATING LEVY AND THE PRELIMINARY 2005 LEVY AND BUDGET
HEARING DATES REQUIRED BY THE CITY OF ROSEMOUNT
WHEREAS, the City Council of the City of Rosemount has determined that budgets and
special needs for the year 2006 will be in the amount of $14,291,500 for the General
Operating Fund, the three CIF Funds, the Insurance Fund, the Port Authority Fund and the
Enterprise Funds, and
WHEREAS, the City Council has determined that special levies for Bonded Indebtedness
(including $154,308 for the market value based referendum levy for the fire station) and the
Armory Project total $2,002,090; and
WHEREAS, the City Council has determined that actual incomes, fund transfers and
anticipated aids will total $6,757,700.
NOW, THEREFORE BE IT RESOLVED, that the total Preliminary Levy certified to the
Dakota County Auditor shall be $9,731,912 for the normal levy and $154,308 for the market
value based referendum levy; and
BE IT FURTHER RESOLVED, that the City Council of the City of Rosemount will conduct a
Public Hearing for the purpose of presenting the proposed budget and levy to the general
public and to comply with Truth in Taxation laws as set by the Minnesota State Legislature,
and that the heanng shall take place on December 5, 2005, at 6:30 P M in the Council
Chambers at the City Hall; and
BE IT FURTHER RESOLVED, that if a continuation of that hearing is necessary it shall
take place on December 12, 2005, at 6:30 P.M.
ADOPTED this 6 day of September, 2005.
ATTEST:
Linda J. Jentink, City Clerk
(SEAL)
CERTIFICATION
William H. Droste, Mayor
RESOLUTION 2005
I hereby certify that the foregoing is a true and correct copy of a resolution presented to and
adopted by the City Council of Rosemount at a duly authorized meeting thereof, held on the
6 day of September, 2005, as disclosed by the records of said City in my possession.
Linda J. Jentink, Rosemount City Clerk
Motion by: Seconded by:
Voted in Favor:
Voted Against:
Members Absent
DAKOTA COUNTY
OFFICE OF THE TREASURER- AUDITOR
PAYABLE 2006
PROPOSED LEVY CERTIFICATION
FORM B
City of Rosemount
TAXING DISTRICT NAME
FORM
Exiiendituee
Category
Badge(' c
Requirement'
(A)
Local
Government Aid
(8)
•t:',Other
Resources
(C)
Certified Leery
(Or-A -B-C)
(D}
General Revenue
s 14,445,808
-0-
s 6,561,678
s 7,884,130
Debt Service Total*
1 ,847,782
1,847,782
Road and Bridge
Other (identify)
Total
16,293,590
-0-
6,561,678
s 9,731,912
`provide breakdown of certified levy by Individual bond
on reverse side or attach an additional sheet
154,308
Market Value Based Referendum Levy
A- Budget Requirement
B -LGA (Local Government Aid)
C -Other Resources
D- Certified Levy
Before signing, please verify the following:
-MAKE SURE THAT ALL LINES ADD ACROSS
BREAKDOWN OF DEBT SERVICE LEVY BY
AMOUNTS REPORTED MATCH ANY OTHER
(i e Certifie L °vy on Is form matches
AND
INDIVIDUAL
amount
Amount needed to fund services
These aids are certified to the taxing district by the Department of Revenue This can be used to reduce
any budget item levy requirement, combination of items or be deducted propodionally from all levies
All other resources that will be used to finance your taxing districts budget Including but not limited
to other aids, interest income, prior year reserves, grants, etc.
Levy sertlied lo the County Treasurer Auditor ROUND TO THE NEAREST WHOLE DOLLAR DO NOT
CERTIFY PENNIES The Treasurer Auditor's offce will deduct Fiscal Disparities from all certified levies
ALL COLUMNS ADD UP TO THE TOTAL LINE
BOND HAS BEEN PROVIDED
SUPPORTING DOCUMENTATION INCLUDED
on your taxing district's resolution, etc.)
Finance
SignaturR pe completing for
Finance Director
Name or contact person provided on Proposed Tax Notices
City of Rosemount, 2875 145th Street West
Title
09 -09 -05
Mailing address proviaed on Proposed Tax Notices
Rosemount, MN 55068
Date
City, slate, zit code provided on Proposed Tax Notices
(651) 423 -4411
Phone numoer or contact person provided on Proposed Tax Notices
(be sure to include area -code)
THEE R LIST BE RETURNED TO THE TREASURER-Ali it O CE
E E SEPTEMBER 1 6, 2 i&
GENERAL FUND $5,863,230
BUILDING CIP FUND $34,000
STREET CIP FUND $1,400,000
EQUIPMENT CIP FUND $266,900
INSURANCE FUND $260,000
PORT AUTHORITY OPERATING LEVY $60,000
TOTAL GENERAL LEVY $7,884,130
G.O MUNICIPAL BUILDING REFUNDING BONDS 1998A (ICE ARENA) (Authorized $255,384) $255,384
G.O IMPROVEMENT BONDS 19998 (Authorized $14,887) $14,887
G 0 BONDS 2000B (Port Authority) (Authorized $239,274) $150,000
G 0 IMPROVEMENT BONDS 2001A (Authorized $116,962) $0
G 0 PUBLIC FACILITY BONDS 2001C (Port Authority) (Authorized $171,864) $171,864
G.O COMMUNITY CENTER REFUNDING BONDS 2001E (Authorized $91,945) $91,945
G 0 IMPROVEMENT BONDS 2002A (Authorized $6,913) $6,913
G,O. PORT AUTHORITY BONDS 2002C (Authorized $265,816) $265,816
G 0 IMPROVEMENT BONDS 2003A (Authorized $86,354) (City Assumed Special Assessments) $86 354
6.0 CAPITAL IMPROVEMENT PLAN (CIP) BONDS 2005A (Authorized $208,978) $208,978
G O. EQUIPMENT CERTIFICATES 2005B (Authorized $347,219) $347,219
TOTAL BONDED INDEBTEDNESS $1,599,360
G O. FIRE STATION BONDS, 1996A (Authorized $154,308) $154,308
TOTAL FIRE STATION LEVY $154,308
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES ($95,000 ($1,922,586,300 x 00798 (As of 2/24/05) $248,422
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS $248,422
GRAND TOTAL 2005 PROPERTY TAX LEVY 59,886,220
Last Updated 8125/05
2005 GENERAL PROPERTY TAX LEVY PAYABLE 2006
GENERAL LEVY
BONDED INDEBTEDNESS
MARKET VALUE BASED REFERENDUM 1995 FIRE STATION LEVY
PAYABLE 2006 TRUTH IN TAXATION
HEARING DATE CERTIFICATION
FORM A
Taxing District Name: City of Rosemount
Public Hearing Date:
Time of meeting:
Place of meeting:
DAKOTA COUNTY
OFFICE OF THE TREASURER AUDITOR
Monday, December 5, 2005
6:30 P.M.
Rosemount City Hall
2875 145th Street West
Rosemount, MN 55068
Continuation Date: Monday, December 12, 2005
PLEASE PROVIDE US WITH A CONTACT NAME AND PHONE NUMBER AS YOU
WOULD LIKE IT TO APPEAR ON THE TNT NOTICES.
Name or Title:
Address:
Phone number:
Signature of person
completing this form:
Title:
Phone number:
E -mail Address:
Date:
Finance Director
City of Rosemount
2875 145th Street West
Rosemount, MN 55068
(651) 423 -4411
e titi
Fina ce Director
(651) 322 -2031
jeff.may @ci.rosemount.mn.us
September 9, 2005
"Please Include area code when identifying phone numbers****
SCHOOL DISTRICTS, This form must be returned to the;treasurer Auditor by AUGUST.10, 20'05
MUNICIPALITIES, This form must be returned to 'die Tresurer Auditor by SEPTEMBER 15, 2005
26
19
School Dist #199con'd
co
a
3
a
CD C)
sa T
m
N m
O co
o f
'o 0
N Q
N 0 1
m m n
6 1 R
-e N N
d 1
Dw
m
c
3
M
o
7'y.
tD
m
N
A
a.
m O
ra
a
z co
20
Dakota County
(continuation)
13
School Dist #6- cont'd
School Dist #194- cont'd
SC11o01 DISC #196
School Dist #197 cont'd
School Dist #200 cont'd
School Dist #659 cont'd
6
School Dist #6- 7:30pm
School Dist #194- 5:30pm
School Dist #196- 6:00pm
School Dist #197- 7.O0pm
School Dist #200- 5:30pm
School Dist #659 -7 pm
School Dist #192- cont'd
TUESDAY
29
School Dist #192 -7 00pm
School Dist #199.7
R '3 28
l a�
Ce A t Ica to 1pu a i
21
14
Metro Special Taxing
Districts (continuation)
7
Metro Special Taxing
Districts- 6:O0pm
WEDNESDAY
30
School Dist #195- 6:30pm
ter u X29
22
15
School Dist #191- cont'd.
8
School Dist #191- 6
School Dist #195 contd.
30
23
16
CO
1 FRIDAY
2
w
V
1.3
,p
17
10
T D
0
0
0
c
Z
Z
co
m
z
v D
m D
E
Co O m
m Z v
0
o m
Z
G)
0
2
m
v
c
r
m
II lisSINHOVIIV
September 6, 2005
Departments
FUNDING REQUIREMENTS USES
(INCLUDING FIRE STATION LEVY)
2005 2006
Adopted Proposed +1-
Budget Budget Difference Percentage
Council Budget $148,400 $186,900 $38,500 25 94%
Administration Budget 485,500 534,800 49,300 10 15%
Elections Budget 54,000 38,900 (15,100) -27 96%
Finance Budget 285,700 317,900 32200 11 27%
General Government Budget 331,800 361,700 29,900 9 01%
Community Development Budget 856300 935,800 79,500 9 28%
Police Budget 2,155,900 2,334,500 178,600 828%
Fire Budget 274,600 283,400 8,800 3 20%
Public Works Operating Budgets
Government Buildings Budget 358,500 367,400 8,900 2 48%
Fleet Maintenance Budget 410,000 421,000 11,000 2 68%
Street Maintenance Budget 1,108200 1,158,900 50,700 4.57%
Parks Maintenance Budget 512,500 535,300 22,800 4 45%
Park Rec Budget General Operating 922,800 972,000 49,200 5 33%
Park Rec Budget Special Programs 91,900 91,500 (400) -0 44%
Total Operating Budgets General Fund $7,996,100 $8,540,000 $543,900 680%
Budding CIP Requirements 48,000 34,000 (14,000) -29 17%
Street CIP Requirements 1,250,000 1,400,000 150300 12 00%
Equipment CIP Requirements 433,600 266300 (166,700) -38 45%
Insurance Budget Requirements 255,000 260300 5,000 1 96%
Port Authority Operating Levy 60,000 60,000 0 100 00%
Bonded Indebtedness 1,044,435 1,599360 554,925 53 13%
Bonded Indebtedness Fire Station Levy 153,426 154,308 882 0 57%
Armory Anticipatory Levy (Value 2/24/05) 223 253 248,422 25,169 11 27%
n$95,000 ($1,922386,300 x 00798%)
Water Enterprise Fund 1,019,000 1,231,900 212,900 20 89%
Sewer Enterprise Fund 1,257,600 1338,400 80.800 6 42%
Storm Water Enterprise Fund 675,200 737,500 62,300 9 23%
Arena Enterpnse Fund 394,200 422.800 28,600 7 26%
Total Funding Requirements $14,809,814 $16,293,590 $1,483,776 10.02%
NOTE Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies
September 6, 2005
FUNDING REQUIREMENTS SOURCES
(INCLUDING FIRE STATION LEVY)
2005 2006
Adopted Proposed 4f-
Types Budget Budget Difference Percentage
Internal Revenue Generated
Licenses and Permits 750200 859,700 109,500 14 60%
Intergovernmental 484,000 525,000 41,000 8 47%
Charges for Services 1,229,900 1,160,700 (69,200) -5 63%
Fines Forfeits 90,000 90,000 0 0 00%
Recreational Fees 233,700 236 200 2,500 1 07%
Ivfsceilaneous Revenues 121,500 152,000 30800 25 10%
Transfers In 3,500 3,500 0 0 00%
Enterprise Revenues 3846,000 3,730800 384,600 11 49%
Total Internal Revenues 6,258,800 6,757,700 498900 7 97%
MVHC Cuts Made Later To Include in Levy 0 350,330
Levy Sources
Special Levies 1,421,114 2,002,090 580,976 4088%
General Levy 7,129,900 7,884,130 754230 10 58%
Total Levy $8,551,014 $9,886,220 $1,335,206 15.61%
Loss of MVHC from State Funding $0 $350,330 $350,330 n/a
Total Revenue Sources $14,809,814 516,293,590 $1,483,776 10.02%
NOTE Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
2005 GENERAL PROPERTY TAX LEVY PAYABLE 2006
GENERAL LEVY
GENERAL FUND $5,863,230
BUILDING CIP FUND $34,000
STREET CIP FUND $1,400,000
EQUIPMENT CIP FUND $266,900
INSURANCE FUND $260,000
PORT AUTHORITY OPERATING LEVY $60,000
TOTAL GENERAL LEVY $7,884,130
BONDED INDEBTEDNESS
G 0. MUNICIPAL BUILDING REFUNDING BONDS 1998A (ICE ARENA) (Authorized $255,384) $255,384
G 0 IMPROVEMENT BONDS 1999B (Authorized $14,887) $14,887
G 0 BONDS 2000B (Port Authority) (Authorized 5239,274) $150,000
G 0 IMPROVEMENT BONDS 2001A (Authorized $116,962)
G.0 PUBLIC FACILITY BONDS 2001C (Port Authority) (Authorized $171,864) $171,864
G 0. COMMUNITY CENTER REFUNDING BONDS 2001E (Authorized $91,945) $91,945
G 0. IMPROVEMENT BONDS 2002A (Authorized $6,913) $6,913
G 0 PORT AUTHORITY BONDS 2002C (Authorized $265,816) $265,816
G 0 IMPROVEMENT BONDS 2003A (Authorized $86,354) (City Assumed Special Assessments) $86,354
G 0. CAPITAL IMPROVEMENT PLAN (CIP) BONDS 2005A (Authonzed $208,978) $208,978
G 0 EQUIPMENT CERTIFICATES 2005B (Authorized $347,219) $347,219
TOTAL BONDED INDEBTEDNESS $1,599,360
MARKET VALUE BASED REFERENDUM 1995 FIRE STATION LEVY
G 0 FIRE STATION BONDS, 1996A (Authorized $154,308)
TOTAL FIRE STATION LEVY
Last Updated 8125/05
PRINCIPAL AND INTEREST ON ARMORY BONDS
$154,308
$154,308
ARMORY ANTICIPATORY LEVIES ($95,000 ($1,922,586,300 x .00798%)) (As of 2/24105) $248,422
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS $248,422
GRAND TOTAL 2005 PROPERTY TAX LEVY $9,886,220
Add Back in State MVHC Cuts to Reflect Actual Levy
City Adjustments (All Subtractions)
Local Government Aid (LGA)
Homestead Agricultural Credit Aid (RACA)
Levy Certified by City to County Auditor
County Auditor Adjustments (All Subtractions).
Fiscal Disparities Distributuion Levy (Metro Area)
Spread Levy Used to Compute Local Tax Rate
Increase from Previous Year in Spread Levy
Market Value Based Referendum Levy Fire Station
Last Updated 8/25/05
SPREAD LEVY COMPUTATIONAL WORKSHEET
(INCLUDING FIRE STATION LEVY)
(Proposed)
2003 2004 2005 2006
Total Funding Requirements 10,021,884 14,088,246 14,809,814 16,293,590 (5)
Less Internal Revenues 1,930,789 6,165,131 6,258,800 6,757,700
Less Market Value Based Levy -Fire Station (See Below) 156,130 152,193 153,426 154,308 (4)
Equals. Revenues Needed 7,934,965 7,770,922 8,397,588 9,381,582
nfa 350,330 nfa 350,330
402,142
0
0
0
7,532,823 8,121,252
0
0
8,397,588 9,731,912
(1) Actual Spread Levy Based on Numbers from Dakota County
(2) 2006 Numbers Provided by Minnesota Department of Revenue
(Year 2002 HACA is removed as the HACA was repealed by the legislature Year 2004 City loses all of its LGA)
(3) 2006 Number Provided by Dakota County as of 8/10/05
(4) Market Value Based Levy for Fire Station Based on $154,308 Levy Spread to Taxable Market Value on 12/31/05
Last Update from Dakota County 2/24/05 Shows the Levy of $154,308 $1,922,586,300 0803 per $1,000 as our Estimate
(5) In 2004 Started Including the Water, Sewer, Storm Water Arena Enterprise Funds in These Figures
0 (2)
0 (2)
771,998 844,509 804,414 770,288 (3)
6,760,825 (1) 7,276,743 (1) 7,593,174 (1) 8,961,624
7.63% 4 35% 18.02%
156,130 152,193 153,426 154,308 (4)
k
zi
t ,o,, 1
R! R e»
2 gd JS
i!« Fgppn
x
E b|
Ni
p!\ma r
/E d, a a g
aJ 25
ae
i
COO
j;
!i