HomeMy WebLinkAbout4.f. Resolution Setting 1997 Preliminary Levy and Budget Hearing DatesCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: September 3, 1996
AGENDA ITEM: Resolution Setting 1997 Preliminary Levy
AGENDA SECTION:
and Budget Hearing Dates
Consent
PREPARED BY: Jeff May, Finance Director
AGENDA lyn #4—F_ 4—F
ATTACHMENTS: Resolution, County Levy & Hearing Forms,
APPROVED BY:
and Summary Pages of 1997 Levy Information
This evening, a resolution is before the Council to formally adopt the 1997 preliminary levy and to set
the budget hearing dates required under truth in taxation laws. The preliminary levy and hearing
dates are based on discussion that took place at the August 20th Council meeting. "Option 2" was
chosen, increasing the preliminary levy by $150,000 for future CIP uses with the understanding that
amount could be discussed at future meetings, especially after the citizens' truth in taxation notices
were received in early November. We did not copy the budgets again, with the exception of the
summary pages that detail the impact of the $150,000 addition to our levy(which will be added to the
Street CIP total for now). Therefore, we do ask the Council to bring their old copies of the budgets
with them to the meeting in case there would be need for additional discussion on the levy or the
hearing dates(the hearing dates have both been scheduled for 6:00 p.m.).
RECOMMENDED ACTION:
Motion to adopt A RESOLUTION SETTING THE PRELIMINARY 1997 GENERAL FUND
OPERATING BUDGET, THE 1997 C.I.P. BUDGETS, THE 1997 INSURANCE BUDGET AND THE
1997 LEVY REQUIRED BY THE CITY OF ROSEMOUNT.
COUNCIL ACTION:
A
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 1996 -
A RESOLUTION SETTING THE PRELIMINARY 1997 GENERAL FUND OPERATING
BUDGET, THE 1997 C.I.P. BUDGETS, THE 1997 INSURANCE BUDGET AND
THE 1997 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 1997 will be in the amount of $5,479,100 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 $153,340 for the market value based referendum levy for the fire station) and the
Armory Project total $782,780; and
WHEREAS, the City Council has determined that actual incomes, fund transfers and
anticipated aids will total $2,176,725.
NOW, THEREFORE BE IT RESOLVED, that the total Preliminary Levy certified to the
Dakota County Auditor shall be $3,931,815 for the normal levy and $153,340 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 hearing shall take place on December 11, 1996, at 6:00 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 18, 1996, at 6:00 P.M.
ADOPTED this 3rd day of September, 1996.
ATTEST:
Susan M. Walsh, City Clerk
Motion by:
Voted in favor:
Voted Against:
Cathy Busho, Mayor
Seconded by:
DAKOTA COUNTY City of Rosemount
OFFICE OF THE TREASURER—AUDITOR TAXING DISTRICT NAME
PAYABLE 1997
PROPOSED LEVY CERTIFICATION
FORM B
ExQenditure
Budget
pF� a
Tax Alds
�ittlet
CecUfled Levy
go;»::.Ret1[nrement
LGh>:.;tIC
q::.B
General Revenue
s
5,479,100
s
382,611
Is 550,773
s 1,243,341
a 3,302,375
Debt Service Total *
629,440
629,400
Road and Bridge
Other (identify)
Total
s
6,108,540
1 s
382,611
s 550,773
s 1,243,341
a 3,931,815
* provide breakdown of certified levy by individual bond on reverse side or attach an additional sheet
Market Value Based Referendum Levy $ 153,340
A—Budget Requirement ........................................... Amount needed to fund services.
B—LGA (Local Government Aid) ..._ ......................_......These aids are certified to the tatting district by the Department of Revenue. They can be used
C—HACA (Homestead & Ag Credit Aid)...................„...to reduce any budget item levy requirement combination of items or be deducted proportionally
from all levy requirements.
D—Other Resources.._.............................................._...Afi other resources that will be used to finance your twang districts budget, Including but not limited
to other aids, interest income, prior year reserves, grants, etc.
E—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.)
0 . A Finance Director (612)322-2031
Slgnat re of on completing form Title Phone
9-4-96
Date
P
DAKOTA COUNTY
OFFICE OF THE TREASURER -AUDITOR
Taxing District Name:
Public Hearing Date:
Time of meeting:
Place of meeting:
PAYABLE 1997 TRUTH IN TAXATION
HEARING DATE CERTIFICATION
FORM A
t
Wednesday, December 11, 1996
6:00 PM
Rosemount City Hall
145th Street West, Rosemount MN 55068
Continuation Date: Wednesday, December 18, 1996
The 'Notice of Proposed Property Tax' sent to each taxpayer no longer contains information about where
to send comments and/or review a copy of your proposed budget. Please provide us with a contact
name and phone number to whom we may refer specific taxpayer questions:
Name or Title: Finance Director
Address:
Phone number:
Signature of person
completing this form:
Title:
Phone number:
Date:
t West
12) 423-4411
Q=k& In
UU
Finance Director
(612) 322-2031
9-4-96
Page Two
FUNDING REQUIREMENTS
September 3, 1996
1996 Adopted
1997 Proposed
+/-
Departments
Budget
Budget Difference
Percentage
Council Budget
$80,200
$71,100
($9,100)
-113546
Administration Budget
$244,900
$232,100
($12,800)
5.23%
Election Budget
$9,100
$5,800
($3,300)
36.26%
Finance Budget
$134,500
$132,800
($1,700)
-1y6%
General Government Budget
$197,200
$201,600
$4,400
2.23%
Community Development
$331,200
$383,700
$52,500
15.85%
Police Budget
$1,119,500
$1,186,300
$66,800
5.97%
Fire Department Budget
$181,300
$169,200
($12,100)
-6.67%
Public Works Operating Budgets:
Government Buildings Budget
$93,500
$280,200
$186,700
199.68%
Fleet Maintenance Budget
$1,009,100
$272,200
($736,900)
-73.03%
Street Maintenance Budget
$301,900
$646,300
$344,400
114.08%
Parks Maintenance Budget
$67,300
$305,700
$238,400
354.23%
Park & Rec Budget -General Operating
$578,800
$511,100
($67,700)
-11.70%
Park & Rec Budget -Special Programs
$77,535
$74,800
($2,735)
-3.53%
Other Financing Uses - Transfers
$105,900
$105,400
($500)
-0.47%
TOTAL OPERATING BUDGETS
$4,531,935
$4,578,300
$46,365
1.02%
Building CEP Requirements
$10,000
$37,000
$27,000
270.00%
Street CIP Requirements
$304,000
$199,000
($105,000)
-34.54%
Equipment CIP Requirements
$156,100
$484,800
$328,700
210.57%
Insurance Budget Requirements
$185,000
$180,000
($5,000)
-2.70%
Bonded Indebtedness
$490,344
$489,126
($1,218)
-0.25%
Bonded Indebtedness - Fire Station Levy
$155,000
$153,340
($1,660)
-1.07%
Certificates of Indebtedness
$49,518
$0
($49,518)
-100.00%
Armory Anticipatory Levy(Value 12/31/94)
$136,592
$140,314
$3,722
2.72%
'$95,000 + ($567,840,000 x.00798%)*
TOTAL FUNDING REQUIREMENTS
$6,018,489
$6,261,880
$243,391
4.04%
Page One
September 3,1996
TmG+
Local Goverment Aid
Homestead & Agricultural Credit Aid
Local Performance Aid
Internal Revenue Generated:
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeits
Recreational Fees
Miscellaneous Revenues
Transfers In
Total Internal Revenues
Levy Sources:
Special Levies
General Levy
Total Levy
TOTAL REVENUE SOURCES
Difference
($3.095)
$16,696
$13,216
Percentage
-0.80%
3.13%
100.00%
-15.30%
9.45%
-8.10%
0.00%
2.71%
28.42%
0.00%
-1.60%
$831,454
REVENUE SOURCES
(INCLUDING FIRE STATION LEVY)
1996 Adopted
1997 Proposed
Budget
Budget
$385,706
$382,611
$534,077
$550,773
$0
$13,216
$267,900
$226,900
$341,800
$374,100
$329,400
$302,725
$100,000
$100,000
$169,510
$174,100
$38,000
$48,800
$3,500
$3,500
$1,250,110
$1,230,125
Difference
($3.095)
$16,696
$13,216
Percentage
-0.80%
3.13%
100.00%
-15.30%
9.45%
-8.10%
0.00%
2.71%
28.42%
0.00%
-1.60%
$831,454
$782,780 ($48,674) -5.85%
$3,017,142
$3,302,375 $285,233 9.45015
$3,848,596
$4,085,155 $236,559 6.15%
$6,018,489
$6,261,880 $230,175 4.04%
1996 GENERAL PROPERTY TAX LEVY PAYABLE 1997
GENERAL LEVY
GENERAL FUND
$2,401,575
BUILDING CIP FUND
$37,000
STREET CIP FUND
$199,000
EQUIPMENT CIP FUND
$484,800
INSURANCE FUND
$180,000
TOTAL GENERAL LEVY $3,302,375
BONDED INDEBTEDNESS
G.O. IMPROVEMENT BONDS 1991A (Authorized - $2,675)
$0
G.O. IMPROVEMENT BONDS 1992A (Authorized - $476)
$0
G.O. COMMUNITY CENTER BONDS 1992C (Authorized - $103,352)
$103,352
G.O. IMPROVEMENT BONDS 1992D (Authorized - $6,719)
$0
G.O. MUNICIPAL BUILDING BONDS 1992E (Authorized $373,604)
$0
G.O. IMPROVEMENT BONDS 1993A (Authorized - $3,824)
$0
G.O. IMPROVEMENT REFUNDING BONDS 1993B (Authorized - $333,269)
$0
G.O. MUNICIPAL BLDG REFUNDING BONDS 1993D (Authorized - $148,079)
$148,079
G.O. BONDS 1993E (Port Authority) (Authorized - $63,510)
$63,510
G.O. BONDS 1994A (Port Authority) (Authorized - $174,185)
$174,185
G.O. IMPROVEMENT BONDS 1995A (Authorized - $7,715)
$0
TOTAL BONDED INDEBTEDNESS $489,126
MARKET VALUE BASED REFERENDUM - 1995 FIRE STATION LEVY
G.O. FIRE STATION BONDS, 1996A (Authorized - $153,340) $153,340
TOTAL FIRE STATION LEVY $153,340
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES ($95,000 + ($567,840,000 x .00798%)) $140,314
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS $140,314
GRAND TOTAL 1995 PROPERTY TAX LEVY $4,085,155
SPREAD LEVY COMPUTATIONAL WORKSHEET
(INCLUDING FIRE STATION LEVY)
1997
1994
1995
11996
i
(Proposed)
Total Funding Requirements
4,834,607
5,427,086
6,1018,489
6,261,880
Less: Internal Revenues
1,057,062
1,256,305
1,;250,110
1,230,125
Less: Use of CIP Reserves
175,000
0
0
0
Less: Market Value Based Levy - Fire Station (See Below)
0
0
155,000
153,340
(4)
Equals: Revenues Needed
3,777,545
4,170,781
4,613,379
4,878,415
(City Adjustments - Subtractions)
Local Government Aid (LGA)
380,794
384,888
385,706
382,611
(2)
Homestead & Agricultural Credit Aid (HACA)
555,804
562,494
534,077
550,773
(2)
Local Performance Aid (LPA)
0
0
0
13,216
(2)
Levy Certified by City to County Auditor
2,840,947
3,223,399
3,693,596
3,931,815
(County Auditor Adjustments - Subtractions)
Fiscal Disparities Distribution Levy (Metro Area)
314,358
312,157
383,430
420,803
(3)
Certified Homestead & Agricultural Credit Aid (HACA)
N/A
N/A
N/A
N/A
Equalization Aid
N/A
N/A
N/A
N/A
Disparity Reduction Aid
N/A
N/A
NIA
N/A
Spread Levy (Used to Compute Local Tax Rate)
2,526,589 (1)
2,911,242 (1)
3,310,166 (1)
3,511,012
Increase from Previous Year in Spread Levy
15.22%
13.70%
6.07%
Market Value Based Referendum Levy - Fire Station
N/A
N/A
155,000
153,340
(4)
(1) Actual Spread Levy Based on Numbers from County
(2) 1997 Numbers Provided by Minnesota Department of Revenue
(3) 1997 Number Provided by Dakota County Auditor's Office - 8/6/96
(4) Market Value Based Levy for Fire Station - Based on $153,340 Levy Spread to Taxable Market Value on 12/31/96
Last Update from County 8/4/96 Shows the Levy of $153,3401$568,640,200 = $.27 per $1,000 as our Estimate
Last Update - 8/28/96
Market Value
Year
Tex Capacity
Tax Capacity Rates:
City
County
School District
Miscellaneous
Adjustment
Total
Property Taxes:
Clly
County
school District
Miscellaneous
Adjustment
Market Value
Year
Tax Capacity
Tax Capacity Rates:
City
County
School District
Miscellaneous
Adjustment
TOW
Property Taxes:
City
County
School District
Miscellaneous
Adjustment
CITY OF ROSEMOUNT
WORKSHEET FOR ESTIMATING PROPERTY TAXES (ISD #196 FIGURES)
68,000
72,000
110,000
150,000
1995
1988
1997 Est
1995 1988 1997 Est
1995 1998
1987 Est
1995
19%
1997 Est
680
880
680
720 720 720
1,480 1,480
1,480
2,280
2,280
2,280
35.778%
36.055%
34.822%
35.778% 36.055% 34.822%
35.778% 38.055%
34.822%
35.778%
36.055%
34.822%
27.994%
28.626%
25.440%
27.994% 28.626% 25.440%
27.994% 26.626%
25.440%
27.994%
28.626%
25.440%
82.348%
80.830%
60.830%
62.348% 60.830% 60.830%
62.348% 60.830%
60.830%
62.348%
60.830%
60.830%
4.702%
5.108%
5.281%
4.702% 5.108% 5.281%
4.702% 5.108%
5.281%
4.702%
5.106%
5.261%
130.822%
...a..
128.619%
.....a
126.353%
=.. -
130.822% 128.819% 128.353%
xa=... =====a = ====
130.822% 128.619%
===aaa =x==aa a=xx=aaa
128.353%
130.822%
a=xaaa.
128.619%
==a.a.
128.353%
as=aaa
243
245
237
258 260 251
530 534
515
818
822
794
190
181
173
202 192 183
414 394
377
638
607
580
424
414
414
449 438 438
923 900
900
1,422
1,387
1,387
32
35
36
34 37 38
70 76
78
107
118
120
890
......
-
875
..aaaa
- -
659
==xaaa
- - - --- -- -- ..
942 926 910
a==xax ===aaa =s=.=a
.»
1,936 1,904
aaaaaa =a=a== as=a=a=x
1,870
2,983
a===sees
2,933
as==aa
2,881
as==aa
Wg
200,000
250,000
History of Actual Tax Capacity Rates(Using ISD #196 Rates)
---_.-...... . ......... -_
1995
1988
1997 Est
1995 1998 1997 Est
1992 1993
1994
1995
1998
1997 Est
3,280
3,280
3,280
4,280 4,280 4,280
35.778%
38.055%
34.822%
35.778% 36.055% 34.822%
29.224% 29.810%
32.297%
35.778%
36.055%
34.822%(1)
27.994%
26.626%
25.440%
27.994% 26.626% 25.440%
25.536% 26.558%
27.474%
27.994%
26.628%
25.440%(2)
82.348%
60.830%
60.830%
82.348% 60.830% 60.830%
55.881% 60.186%
60.933%
62.348%
80.830%
60.630%(3)
4.702%
5.108%
5.281%
4.702% 5.108% 5.281%
5.080% 3.703%
4.984%
4.702%
5.108%
5.261%(4)
130.822%
......
126.819%
....=.
126.353%
-=a.
--•--------- _._......... _.... _
130.822% 128.819% 126.353%
==a = ====== ===a==
......
115.501% 120.259%
=-- x===== aaa===ax
125.688%
130.822%
aaa=====
128.619%
=.a=.=
126.353%
aaaaaa
1,174
1,183
1,142
1,531 1,543 1,490
Net Tax Capacity Percentages
918
873
834
1,198 1,140 1,088
For Residential Homesteads:
2,045
1,995
1,995
2,688 2,604 2,604
First $72,000
1.0
1.0
1.0
154
188
173
201 219 225
$72,000-$115,000
2.0
2.0
2.0
Over $115,000
2.0
2.0
2.0
4,281
......
4,219
......
-� 4,144
.aaaaa
5,599 5,505 5,408
.=_=== =__=== =-=-
(1) This Figure Derived Using Figures Provided by Dakota County:
(s) 1997 Preliminary Levy less Fiscal Disparities
3,511,012 /
10,082,881
0.3482152
(b) Net Tax Capacity Figure as of 6/2/98
12,148,299
(c) Captured Tax Increment Tax Capacity as of 1/1/96
(420,465)
(d) ContdbutIon to Fiscal Disparities as of 1/1/96
(1,844,953)
10,082,881
(2) Projected Figure Provided by Dakota County
(3) ISD #196 Projects a Decrease for 1997 but at This Time Said to use 1998's
(4) This Figure Estimated with 3% Growth