HomeMy WebLinkAbout7.b. Resolution Setting 2002 Preliminary Levyt
CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: September 4, 2001
AGENDA ITEM: Resolution Setting 2002 Preliminary Levy
AGENDA SECTION:
Old Business
PREPARED BY: Jeff May, Finance Director
AGENDA & 7
I V
ATTACHMENTS: Resolution(s), County Levy Form(s), and
APPROVED BY:
Summary Pages of 2002 Levy Information (with both options)
This evening, two resolutions are before the Council to formally adopt the 2002 preliminary levy
required under truth in taxation laws. The preliminary levy is based on discussion that took place at
the July 31S and August 15 Council work sessions. Early last week we received our levy limit
information from the State's Department of Revenue. I have prepared for you this evening two
scenarios: (1) the levy based on discussions we had at the two work sessions that addressed what
staff felt were the needs for the coming year, and (2) the levy based on levying to our actual levy
limit. As we had discussed previously, our levy limit is actually quite a bit higher that what Council
and staff had discussed as our needs - $378,421 to be'exact.
Levying based on our needs (with special levies included) shows an increase of 29.26% from last
year's levy. Levying to our limit (with special levies included) shows, an increase of 36.36% from last
year's levy. The City of West St. Paul surveyed me and in discussions with their staff I found that the
surrounding communities of South St. Paul, Lakeville, Burnsville and West St. Paul all had levy
increases of 30% to 38% proposed as of two weeks ago. Of our $1,280,182 proposed increase in
our General Levy (based on needs) almost $600,000 of that increase can be attributed to the loss of
HACA and Mobil Home HACA (State Aids). Without the loss of those aids our increase would be
very close to the growth that the City has experienced in market value in the last year.
The issue before you this evening is to approve a preliminary levy. We must have this levy delivered
to Dakota County by September 17t The State has not allowed for any extension in this matter.
Unfortunately, we have no information at this time that we can use to try and determine the impact
that our levy will have on our taxpayers — and we may not have this information before we have to
approve our final levy in December. At this point in time, staff feels the prudent choice is to levy
the lower of the two amounts which is based on our needs for the coming year, realizing that
there are valid arguments to consider levying the higher amount that is our actual levy limit.
We will also have further discussion in September, October and November on budgets and levies.
Hopefully we will get further information from Dakota County that will help guide you in your final levy
aeciswn- r11dKil N.
RECOMMENDED ACTION:
Motion to adopt A RESOLUTION SETTING THE PRELIMINARY 2002 GENERAL FUND
OPERATING BUDGET, THE PRELIMINARY 2002 C.I.P. BUDGETS, THE PRELIMINARY 2002
INSURANCE BUDGET AND THE PRELIMINARY 2002 LEVY REQUIRED BY THE CITY OF
ROSEMOUNT. (Based on our needs — Option 1 or Levying to our limit - Option 2)
COUNCIL ACTION:
a
MINNESOTA Department of Revenue
Property Tax Division Mail Station 3340 St. Paul, MN 55146 -3340
Phone (612) 296 -3155 Fax (612) 297 -2166
Payable 2002 Overall Levy Limitation Notice August 22, 2001
ROSEMOUNT CITY OF
CLERK
CITY HALL 2875 145TH ST W
ROSEMOUNT MN 55068
The payable 2002 overall levy limitation for your city is: $ 5,875,809
The following is a listing of the factors used in determining your city's payable 2002
overall levy limitation. See the enclosed letter for an explanation of these factors and for
additional information concerning your city's overall levy limitation.
1. Adjusted Levy Limit Base for Payable 2000:
$
5,219,445
2. Payable 2000 Matching Funds Special Levy:
$
3. Beginning Levy Limit Base for Payable 2002 (1 + 2);
$
5,219,445
4. Implicit Price Deflator Adjustment (March 2000/March 1999): `
1.043041
5. Household Growth Adjustment
a. 1998 Households:
4,278
b. 1999 Households:
4,412
c. Ratio of 1999 to 1998. Households (b /a, but not less than 1.000):
1.031323
6. Adjustment for Pay' 2000 Market Value of New C/I Construction
a. Payable 1999 Total Taxable Market Value:
$
657,779,100
b. Payable 2000 Market Value of New C/I Construction:
$
4,516,500
c. 50% of Line b (6b x 0.5):
$
2,258,250
d. Adjustment (1 + Ratio of 6c to 6a):
1.003433
7. Levy Limit Base Adjusted for Pay' 2001 Factors ( 3 x 4 x 5c x 6d):
$
5,633,896
8. Alternative Levy Limit Base for Payable 2001 (Detail on Page 2):
$
5,037,003
9. Effective Levy Limit Base for Payable 2001 (Greater of 7 or 8):
$
5,633,896
10. Payable 2001 Opt -Out City Transit Services Levy:
$
11. Levy Limit Base after Transit Services Levy Adj. (9 —10):
$
5
12. Implicit Price Deflator Adjustment (March 2001/Mareh 2000):
1.033630
13. Household Growth Adjustment
a. 1999 Households:
4,412
b. 2000 Households:
4,742
c. Ratio of 2000 to 1999 Households (b /a, but not less than 1.000):
1.074796
14. Adjustment for Pay' 2001 Market Value of New C/I Construction
a. Payable 2000 Total Taxable Market Value:
$
729,501,200
b. Payable 2001 Market Value of New C/I Construction:
$
2,704,600
RECEIVED c. 50% of Line b (14b x 0.5):
$
1,352,300
d. Adjustment (1 + Ratio of 14c to 14a):
1.001854
AUG 2 4 2001
Cont...
CITY OF ROSEMOUNT
An equal opportunity employer TTY/TDD: (612)215 -0069
15. Adjusted Levy Limit Base for Payable 2002 (11 x 12 x 13c x 14d): $ 6,270,532
16. New Net Tax Capacity -Based Referendum Levies: $
17.2002 Property Tax Aids '
a. 2002 Local Government Aid (LGA): $ 394,723
b. 2002 Estimated Taconite Aids: $
c. 2002 Existing Low Income Housing Aid: $
d. 2002 New Construction Low Income Housing Aid: $
e. 2002 Transit Property Tax Replacement Aid: $
f. Total (a + b + c + d + e): $ 394,723
18. Adjustment for 2001 Local Tax Rate Excess Tax Increment Taxes: $ p
19. Payable 2002 Overall Levy Limitation (15 + 16 —17f -18): $ 5,875,809
Detail of Alternative Levy Limit Base Calculation (for Line 8 Above):
1.
Payable 2001 Total Certified Levy:
$
5,330,476
2.
Payable 2001 Debt Special Levies
a. Bonded Indebtedness:
$
960,660
b. Certificates of Indebtedness:
$
c. Bonds of Another Local Unit of Government:
$
d. Principal and Interest on Armory Bonds:
$
152,508
e. Total Debt Special Levies (a + b + c + d):
$
1,113,168
3.
Payable 2001 Market Value Based Referendum Levies:
$
152,508
4.
Payable 2001 Natural Disasters Special Levy;
$
5.
Pay' 2001 Levy to Correct for Errors in Pay' 2000 Cert. Levy:
$
6.
Payable 2001 Economic Development Tax Abatement Levies:
$
7.
Payable 2001 Levy to Repay State or Federal Loan:
$
8.
Total Payable 2001 Special Levies Reported (2e +3 +4 +5 +6 +7):
$
1,265,676
9.
2001 Property Tax Aids
a. 2001 Certified Local Government Aid (LGA):
$
394,496
b. 2001 Cert. Homestead and Agricultural Credit Aid (HACA):
$
577,707
c. 2001 Taconite Aids:
$
d. 2001 Certified Existing Low Income Housing Aid:
$
e. 2001 Certified New Construction Low Income Housing Aid:
$
£ Total (a + b + c + d + e):
$
972,203
10.
Alternative Levy Limit Base for Payable 2001 (1— 8+ 9f)
(To Line 8 on Page 1):
$
5,037,003
2
Option 1
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2001 -
A RESOLUTION SETTING THE PRELIMINARY 2002 GENERAL FUND OPERATING
BUDGET, THE PRELIMINARY 2002 C.I.P. BUDGETS,
THE PRELIMINARY 2002 INSURANCE BUDGET AND
THE PRELIMINARY 2002 LEVY 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 2002 will be in the amount of $7,703,700 for the General
Operating Fund, the three CIP Funds and the Insurance Fund; and
WHEREAS, the City Council has determined that special levies for Bonded Indebtedness
(including $154,482 for the market value based referendum levy for the fire station) and the
Armory Project total $1,392,872; and
WHEREAS, the City Council has determined that actual incomes, fund transfers and
anticipated aids will total $2,206,312.
NOW, THEREFORE BE IT RESOLVED, that the total Preliminary Levy certified to the
Dakota County Auditor shall be $6,735,778 for the normal levy and $154,482 for the market
value based referendum levy.
ADOPTED this 4 th day of September, 2001.
Cathy Busho, Mayor
ATTEST:
Linda J. Jentink, City Clerk
Option 1
RESOLUTION 2001 -
CERTIFICATION
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
4 th day of September, 2001, as disclosed by the records of said City in my possession.
(SEAL)
Motion by:
Voted in Favor:
Voted Against:
Linda J. Jentink, Rosemount City Clerk
Seconded by:
Members Absent:
, DAKOTA COUNTY City of Rosemount
OFFICE OF THE TREASURER - AUDITOR TAXING DISTRICT NAME
Option 1 PAYABLE 2002
, ROPOSED LEVY CERTIFICATION FORM
FORM B
provide breakdown of certified levy by individual bond on reverse side or attach an additional sheet
Market Value Based Referendum Levy Fs
154,48
A- Budget Requirement .......................................... ............................... Amount needed to fund services.
B -LGA (Local Government Aid) ................................ ............................... These aids are certified to the taxing district by the Department of Revenue. This can be used to reduce
any budget Rem levy requirement, combination of items or be deducted proportionally from all levies.
C -Other Resources ................................................... ............................... 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.
D- Certified Levy ....................................................... ............................... Levy certified to the County Treasurer - Auditor. ROUND TO THE NEAREST WHOLE DOLLAR. DO NOT
CERTIFY PENNIES. The Treasurer-Auditoes office will deduct Fiscal Disparities from all certified levies.
Before signing, please verify the following:
- MAKE SURE THAT ALL LINES ADD ACROSS AND ALL COLUMNS ADD UP TO THE TOTAL LINE
- BREAKDOWN OF DEBT SERVICE LEVY BY INDIVIDUAL BOND HAS BEEN PROVIDED
- AMOUNTS REPORTED MATCH ANY .OTHER SUPPORTING DOCUMENTATION INCLUDED
(i.e., Certified Levy on this form matches amount on your taxing district's resolution, etc.)
If you will be holding a Truth in Taxation public hearing check this box and complete Form A
Signature of person completing form
Finance Director
Title
09 -11 -01
Date
Jeffrey A. May
Name of contact person or dept provided on Proposed Tax Notice
2875 145th St. W., Rosemount, MN 550
Mailing address provided on Proposed Tax Notice
(651) 322 -2031
Phone number of contact person (include area -code)
Got . Q :: ::::::::::::::::::::::::::::Re.
...:.:. :.:.:.:.:.:.::.:.:.:.:.:.:.:.:.
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W:.:.:.:.,.:.:.............................:-....::...:.:.:.....-.:.:.:.:.:.:.:.:.:.:.:.:..:.:.:.:.:.:.:.:.:.:..::.:..:.:.:.:.:.:.:.:.:.:.:.:.:.:...:.:.:.:.:...:.:.:-...
.: .r ve ii r Brit Aid
..................-
; a l urces
............ esa.............. ......
....................(......A:
? =b'= = �_ c
B. ................
..:...:.:.....:.:.:.:.:.:.:.:.:
General Revenue
$ 7,703,700
$ 394,723
$ 1,811,589
$ 5,497,388
Debt Service Total *
1,238,390
1,238,390
Road and Bride
-
Other (identify)
Total
$ 8,942,090
$ 394,723
$ 1,811,589
$ 6,735,778
provide breakdown of certified levy by individual bond on reverse side or attach an additional sheet
Market Value Based Referendum Levy Fs
154,48
A- Budget Requirement .......................................... ............................... Amount needed to fund services.
B -LGA (Local Government Aid) ................................ ............................... These aids are certified to the taxing district by the Department of Revenue. This can be used to reduce
any budget Rem levy requirement, combination of items or be deducted proportionally from all levies.
C -Other Resources ................................................... ............................... 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.
D- Certified Levy ....................................................... ............................... Levy certified to the County Treasurer - Auditor. ROUND TO THE NEAREST WHOLE DOLLAR. DO NOT
CERTIFY PENNIES. The Treasurer-Auditoes office will deduct Fiscal Disparities from all certified levies.
Before signing, please verify the following:
- MAKE SURE THAT ALL LINES ADD ACROSS AND ALL COLUMNS ADD UP TO THE TOTAL LINE
- BREAKDOWN OF DEBT SERVICE LEVY BY INDIVIDUAL BOND HAS BEEN PROVIDED
- AMOUNTS REPORTED MATCH ANY .OTHER SUPPORTING DOCUMENTATION INCLUDED
(i.e., Certified Levy on this form matches amount on your taxing district's resolution, etc.)
If you will be holding a Truth in Taxation public hearing check this box and complete Form A
Signature of person completing form
Finance Director
Title
09 -11 -01
Date
Jeffrey A. May
Name of contact person or dept provided on Proposed Tax Notice
2875 145th St. W., Rosemount, MN 550
Mailing address provided on Proposed Tax Notice
(651) 322 -2031
Phone number of contact person (include area -code)
)ption 1
FUNDING REQUIREMENTS - USES
(INCLUDING FIRE STATION LEVY)
September 4, 2001
NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
2001
2002
Adopted _
Proposed
+/-
Departments
Budget
Budget
Difference
Percentage
Council Budget
$85,500
$88,600
$3,100
3.63%
Administration Budget
284,900
320,300
35,400
12.43%
Elections Budget
10,000
23,000
13,000
130.00%
Finance Budget
186,800
255,300
68,500
36.67%
General Government Budget
294,800
298,700
3,900
1.32%
Community Development Budget
571,700
684,700
113,000
19.77%
Police Budget
1,495,400
1,688,000
192,600
12.88%
Fire Budget
192,400
254,800
62,400
32.43%
Public Works Operating Budgets:
Government Buildings Budget
286,700
312,900
26,200
9.14%
Fleet Maintenance Budget
357,900
395,500
37,600
10.51%
Street Maintenance Budget
789,300
893,800
104,500
13.24%
Parks Maintenance Budget
367,500
423,100
55,600
15.13%
Park & Rec Budget - General Operating
650,800
771,300
120,500
18.52%
Park & Rec Budget - Special Programs
89,500
91,600
2,100
2.35%
Total Operating Budgets - General Fund
$5,663,200
-
$6,501,600
------------------------------
$838,400
14.80%
Building CIP Requirements
202,000
24,000
(178,000)
- 88.12%
Street CIP Requirements
570,000
315,000
(255,000)
- 44.74%
Equipment CIP Requirements
280,700
663,100
382,400
136.23%
Insurance Budget Requirements
190,000
200,000
10,000
5.26%
Bonded Indebtedness
798,179
1,065,379
267,200
33.48%
Bonded Indebtedness - Fire Station Levy
152,508
154,482
1,974
1.29%
Armory Anticipatory Levy (Value 7/25/01)
162,481
173,011
10,530
6.48%
*`$95,000 + ($977,576,500 x.00798%)
Total Funding Requirements
$8,019,068
-------------------------------
$9,096,572
$1,077,504
13.44%
NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
Option 1
FUNDING REQUIREMENTS - SOURCES
(INCLUDING FIRE STATION LEVY)
September 4, 2001
Levy Sources:
Special Levies
General Levy
Total Levy
Total Revenue Sources
1,113,168
2001
2001
25.13%
4,217,308
5,497,388
Adopted
Proposed
$5,330,476
+/-
Types
Budget
Budget
Difference Percentage
Local Government Aid (LGA)
$394,496
$394,723
$227
0.06%
Homestead & Agricultural Aid (HACA)
577,707
0
(577,707)
- 100.00%
Internal Revenue Generated:
Licenses and Permits
461,700
478,500
16,800
3.64%
Intergovernmental
413,089
423,889
10,800
2.61%
Charges for Services
456,100
481,400
25,300
5.55%
Fines & Forfeits
100,000
90,000
(10,000)
- 10.00%
Recreational Fees
201,600
203,900
2,300
1.14%
Miscellaneous Revenues
80,400
130,400
50,000
62.19%
Transfers In
3,500
3,500
0
0.00%
Total Internal Revenues
-------------------------------------------------------------------------
1,716,389
1,811,589
95,200
5.55%
Levy Sources:
Special Levies
General Levy
Total Levy
Total Revenue Sources
1,113,168
1,392,872
279,704
25.13%
4,217,308
5,497,388
1,280,080
30.35%
$5,330,476
$6,890,260
$1,559,784
29.26 %
$8,019,068 $9,096,572 $1,077,504 13.44%
NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
.Option 1
2001 GENERAL PROPERTY TAX LEVY PAYABLE 2002
GENERAL LEVY
GENERALFUND
BUILDING CIP FUND
STREET CIP FUND
EQUIPMENT CIP FUND
INSURANCE FUND
TOTAL GENERAL LEVY
BONDEDINDEBTEDNESS
G.O. COMMUNITY CENTER BONDS 1992C (Authorized - $101,927)
G.O. IMPROVEMENT BONDS 1992D (Authorized - $7,178)
G.O. MUNICIPAL BUILDING BONDS 1992E (ICE ARENA) (Authorized - $264,141)
G.O. IMPROVEMENT BONDS 1993A (Authorized - $3,314)
G.O. BONDS 1993E (Port Authority) (Authorized - $64,166)
G.O. BONDS 1994A (Port Authority) (Authorized - $171,610)
G.O. IMPROVEMENT BONDS 1995A (Authorized - $20,687)
G.O. IMPROVEMENT BONDS 1998C (Authorized - $7,314)
G.O. IMPROVEMENT BONDS 1999B (Authorized $17,274)
G.O. BONDS 2000B (Port Authority) (Authorized - $238,104)
G.O. IMPROVEMENT BONDS 2001A (Authorized - $118,837)
G.O. PUBLIC FACILITY BONDS 2001C (Port Authority) (Authorized - $169,664)
TOTAL BONDED INDEBTEDNESS
MARKET VALUE BASED REFERENDUM -1995 FIRE STATION LEVY
G.O. FIRE STATION BONDS, 1996A (Authorized - $154,482)
TOTAL FIRE STATION LEVY
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES ($95,000 + ($977,576,500 x.00798%))
(AS OF 7/25/01)
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS
GRAND TOTAL 2001 PROPERTY TAX LEVY
$4,295,288
$24,000
$315,000
$663,100
$200,000
$5,497,388
$101,927
$7,178
$264,141
$3,314
$64,166
$171,610
$20,687
$7,314
$17,274
$238,104
$0
$169,664
$1,065,379
$154,482
--------------------------
$154,482
-------------------- - - - - --
$173,011
--------------------------
$173,011
--------------------------
$6,890,260
--------- - - - - --
---------------
• Option 2
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2001 -
A RESOLUTION SETTING THE PRELIMINARY 2002 GENERAL FUND OPERATING
BUDGET, THE PRELIMINARY 2002 C.I.P. BUDGETS,
THE PRELIMINARY 2002 INSURANCE BUDGET AND
THE PRELIMINARY 2002 LEVY 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 2002 will be in the amount of $8,082,121 for the General
Operating Fund, the three CIP Funds and the Insurance Fund; and
WHEREAS, the City Council has determined that special levies for Bonded Indebtedness
(including $154,482 for the market value based referendum levy for the fire station) and the
Armory Project total $1,392,872; and
WHEREAS, the City Council has determined that actual incomes, fund transfers and
anticipated aids will total $2,206,312.
NOW, THEREFORE BE IT RESOLVED, that the total Preliminary Levy certified to the
Dakota County Auditor shall be $7,114,199 for the normal levy and $154,482 for the market
value based referendum levy.
ADOPTED this 4th day of September, 2001.
Cathy Busho, Mayor
ATTEST:
Linda J. Jentink, City Clerk
Option 2
RESOLUTION 2001 -
CERTIFICATION
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
4 th day of September, 2001, as disclosed by the records of said City in my possession.
(SEAL)
Motion by:
Voted in Favor:
Voted Against:
Linda J. Jentink, Rosemount City Clerk
Seconded by: _
Members Absent:
,DAKOTA COUNTY City of Rosemount
OFFICE OUTHE- TREASURER- AUDITOR TAXING DISTRICT NAME
Option 2 PAYABLE 2002 ,
PROPOSED LEVY CERTIFICATION FORM
FORM B
..................
...end. t� :� ....................B
................. .
. d ....
.......
.. Q..al .... ...............................
fit5r
.:.:.:...:...:.:.: .. ...! Y ....................................
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n enf .Ard............-
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-B..0 .:- :.:.:.:......
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:::::::::::::: .. ).........................(..................
...............................
C)............:.....:
.:.:..:.
:.:.:.:.:.:.:.:.:.:.:.: ::::::
General Revenue
$ 8,082,121
$ 394,723
$
1,811,589
$ 5,875,809
Debt Service Total "
1,238,390
1,238,390
Road and Bridge
Other (identify)
Total
$ 9,320,511
$ 394,723
$
1,811,589
$ 7,114,199 .
provide breaKdown or certmed levy by individual bond on reverse Side or attach an additional sheet
Market Value Based Referendum Lever Fs
154,482
A-Budget Requirement... .......................................................... ............ Amount needed to fund services.
B -LGA (Local Government Aid) ................................ ............................... These aids are certified to the taxing district by the Department of Revenue. This can be used to reduce
any budget Rem levy requirement, combination of items or be deducted proportionally from all levies.
C -Other Resources .................................................. ............................... 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.
D- Certified Levy ....................................................... ............................... Levy certified to the County Treasurer - Auditor. ROUND TO THE NEAREST WHOLE DOLLAR. DO NOT
CERTIFY PENNIES. The Treasurer - Auditors office will deduct Fiscal Disparities from all certified levies.
Before signing, please verify the following:
-MAKE SURE THAT ALL LINES ADD ACROSS AND ALL COLUMNS ADD UP TO THE TOTAL LINE
- BREAKDOWN OF DEBT SERVICE LEVY BY INDIVIDUAL BOND HAS BEEN PROVIDED
- AMOUNTS REPORTED MATCH ANY OTHER SUPPORTING DOCUMENTATION INCLUDED
(i.e., Certified Levy on this form matches amount on your taxing district's resolution, etc.)
If you will be holding a Truth in Taxation public hearing check this box and complete Form A
Signature of person completing form
F Director
Title
09 -11 -01
Date
Jeffrey A. May
Name of contact person or dept provided on Proposed Tax Notice
2875 145th St. W., Rosemount, MN 55068
Mailing address provided on Proposed Tax Notice
(651) 322 -2031
Phone number of contact person (include area -code)
Option 2
FUNDING REQUIREMENTS - USES
(INCLUDING FIRE STATION LEVY)
(Adding to Street CIP to Levy to City's Limit)
September 4, 2001
2001 2002
Adopted Proposed +/-
Departments Budget Budget Difference Percentage
------------------------------------- ----------------- - - - - -- ------------------------------------------------------------------------ - - - - --
Council Budget
Administration Budget
Elections Budget
Finance Budget
General Government Budget
Community Development Budget
Police Budget
Fire Budget
Public Works Operating Budgets:
Government Buildings Budget
Fleet Maintenance Budget
Street Maintenance Budget
Parks Maintenance Budget
Park & Rec Budget - General Operating
Park & Rec Budget - Special Programs
Total Operating Budgets - General Fund
Building CIP Requirements
Street CIP Requirements
Equipment CIP Requirements
Insurance Budget Requirements
Bonded Indebtedness
Bonded Indebtedness - Fire Station Levy
Armory Anticipatory Levy (Value 7/25/01)
* *$95,000 + ($977,576,500 x.00798%)
Total Funding Requirements
$85,500
$88,600
$3,100
3.63%
284,900
320,300
35,400
12.43%
10,000
23,000
13,000
130.00%
186,800
255,300
68,500
36.67%
294,800
298,700
3,900
1.32%
571,700
684,700
113,000
19.77%
1,495,400
1,688,000
192,600
12.88%
192,400
254,800.
62,400
32.43%
286,700
312,900
26,200
9.14%
357,900
395,500
37,600
10.51%
789,300
893,800
104,500
13.24%
367,500
423,100
55,600
15.13%
650,800
771,300
120,500
18.52%
89,500
91,600
2,100
2.35%
$5,663,200
$6,501,600
$838,400
14.80%
202,000
24,000
(178,000)
- 88.12%
570,000
693,421
123,421
21.65%
280,700
663,100
382,400
136.23%
190,000
200,000
10,000
5.26%
798,179
1,065,379
267,200
33.48%
152,508
154,482
1,974
1.29%
162,481
173,011
10,530
6.48%
$8,019,068 $9,474,993 $1,455,925 18.16%
-----------------------------------------
-----------------------------------------
NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
Option 2
FUNDING REQUIREMENTS -SOURCES
(INCLUDING FIRE STATION LEVY)
(Adding to Street CIP to Levy to City's Limit)
September 4, 2001
2001
2001
16,800
Adopted
Proposed
423,889
Types Budget
Budget
Difference Percentage
Local Government Aid (LGA) $394,496
$394,723
$227 0.06%
Homestead & Agricultural Aid (HACA) 577,707
0
(577,707) - 100.00%
Internal Revenue Generated:
Licenses and Permits
Intergovernmental
Charges for Services
Fines & Forfeits
Recreational Fees
Miscellaneous Revenues
Transfers In
Total Internal Revenues
Levy Sources:
Special Levies
General Levy
Total Levy
461,700
478,500
16,800
3.64%
413,089
423,889
10,800
2.61%
456,100
481,400
25,300
5.55%
100,000
90,000
(10,000)
- 10.00%
201,600
203,900
2,300
1.14%
80,400
130,400
50,000
62.19%
3,500
3,500
0
0.00%
1,716,389
1,811,589
-----------------------------
95,200
5.55%
1,113,168 1,392,872
4,217,308 5,875,809
$5,330,476 $7,268,681
279,704
25.13%
1,658,501
39.33%
$1,938,205
36.36 %
Total Revenue Sources $8,019,068 $9,474,993 $1,455,925 18.16%
NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
Option 2
2001 GENERAL PROPERTY TAX LEVY PAYABLE 2002
(Adding to Street CIP to Levy to City's Limit
GENERAL LEVY
GENERAL FUND
$4,295,288
BUILDING CIP FUND
$24,000
STREET CIP FUND
$693,421
EQUIPMENT CIP FUND
$663,100
INSURANCE FUND
$200,000
TOTAL GENERAL LEVY $5,875,809
BONDEDINDEBTEDNESS
G.O. COMMUNITY CENTER BONDS 1992C (Authorized - $101,927)
$101,927
G.O. IMPROVEMENT BONDS 1992D (Authorized - $7,178)
$7,178
G.O. MUNICIPAL BUILDING BONDS 1992E (ICE ARENA) (Authorized - $264,141)
$264,141
G.O. IMPROVEMENT BONDS 1993A (Authorized - $3,314)
$3,314
G.O. BONDS 1993E (Port Authority) (Authorized - $64,166)
$64,166
G.O. BONDS 1994A (Port Authority) (Authorized - $171,610)
$171,610
G.O. IMPROVEMENT BONDS 1995A (Authorized - $20,687)
$20,687
G.O. IMPROVEMENT BONDS 1998C (Authorized - $7,314)
$7,314
G.O. IMPROVEMENT BONDS 1999B (Authorized - $17,274)
$17,274
G.O. BONDS 2000B (Port Authority) (Authorized - $238,104)
$238,104
G.O. IMPROVEMENT BONDS 2001A (Authorized - $118,837)
$0
G.O. PUBLIC FACILITY BONDS 2001 C (Port Authority) (Authorized - $169,664)
$169,664
TOTAL BONDED INDEBTEDNESS $1,065,379
MARKET VALUE BASED REFERENDUM -1995 FIRE STATION LEVY
G.O. FIRE STATION BONDS, 1996A (Authorized - $154,482) $154,482
TOTAL FIRE STATION LEVY $154,482
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES ($95,000 + ($977,576,500 x.00798%))
(AS OF 7/25/01)
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS
GRAND TOTAL 2001 PROPERTY TAX LEVY
$173,011
--------------------------
$173,011
--------------------------
$7,268,681