HomeMy WebLinkAbout5.a. Adoption of 1996 Preliminary Levy and Setting of Budget Hearing Dates ' CITY OF ROSEMOUNT
� EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETiNG DATE: September 5, 1995
AGENDA ITEM: Adoption of 1996 Preliminary Levy and AGENDA SECTION:
Setting of Budget Hearing Dates Old Business
PREPARED BY: Jeff May, Finance Director AGENDA��A A � � J►
�V! li
ATTACHMENTS: Resolution, County Levy & Hearing Forms APPROVED BY:
This evening, a resolution is before the Councii to formally adopt the 1996 preliminary levy and to
set the budget hearing dates required under truth in taxation laws. At the August 15th Council
meeting the budgets were discussed and no changes were made at that time. Tonight, the
resolution carries forward discussion held that evening. We did not copy the budgets again
because there were no changes, so we are asking that Council members and staff bring their old
copies in case discussion is necessary. There was one small change in the amount of HACA that
we are scheduled to receive in 1996. That amount was actually $319 more than what 1 had
budgeted, so the levy is decreased by that amount. Other than that, there were no changes made
since the August 15th meeting.
REC MMENDED ACT10N:
Motion to adopt A RESOLUTION SETTING THE PRELIMINARY 1996 GENERAL FUND
OPERATING BUDGET, THE 1996 C.I.P. BUDGET, THE 1996 INSURANCE BUDGET AND THE
1996 LEVY REQUIRED BY THE CITY OF ROSEMOUNT.
COUNCIL ACTION:
.
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 1995 -
A RESOLUTION SETTING THE PRELIMINARY 1996 GENERAL FUND OPERATING
BUDGET, THE 1996 C.I.P. BUDCET, THE 1996 INSURANCE BUDGET AND
THE 1996 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 1996 will be in the amount of $5,187,035 for the General
Operating Fund, the CIP Fund and the tnsurance Fund and
WHEREAS, the City Council has determined that special levies for Bonded Indebtedness,
Certificates of Indebtedness and the Armory Project total $676,454; and
WHEREAS, the City Council has determined that actual incomes, fund transfers and
anticipated aids will total $2,169,893.
NOW, THEREFORE BE IT RESOLVED, that the total Preliminary Levy certified to the
Dakota County Auditor shalf be $3,693,596; 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 November 29, 1995, at 7:00 P.M., in
the Council Chambers at the City Hall; and
BE IT FURTHER RESO�VED, that if a continuation of that hearing is necessary it shall
take place on December 8, 1995, at 7:00 P.M.
ADOPTED this 5th day of September, 1995.
E.B. McMenomy, Mayor
ATTEST:
Susan M. Walsh, City Clerk
Motion by: Seconded by:
Voted in favor:
Voted Against:
�
TA008
DAKOTA COUNTY
OFFICE OF THE TREASURER—AUDITOR
PAYABLE 1996 TRUTH IN TAXATION
HEARING DATE CERTiFICATION
FORM A
City of Rosemount
Ta�cing District Name:
Wednesday, November 29, 1995
Pubiic Hearing Date:
7:00 P.M.
Time of Meeting
Rosemount City Ha11
Place of Meeting:
2875 145th Street West, Rosemount, MN 55068
Friday, December 8, 1995
Continuation Date:
Ttie 'Notice of Proposed Properry Tax'sent to each taxpayer no/onger contains information about where
to send comments and/or review a copy of your proposed budget Piease provide us with a contact
name and phone number fo whom we may refer specific taxpayer questions
Name or Titie: Fi nance Di rector
Address: 2875 145th Street West
Rosemount, MN 55068
Phone Number: (612) 423-4411
Signature of Person n . ,�/
Compieting This Form: �,,�, /"{
Title: `� i nance Di rector
Phone Number. �612) 322-2031
Date: 9-6-95
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D A K O T A C O U N T Y City of Rosemount
OFFICE OFTHE TREASURER—AUDITOR TAx�NG ��sTR�CT tvAr+�E
PAYABLE 1996 TRUTH IN TAXATION
PROPOSED LEVY CERTIFlCATION
FORM B
:Expenditure ' Budget ; Pro e �`"ax Aids Other C rxi ed Levy
Ca�e ac ' Requ�rerrient LGA HACA Resourc�s (E�AftB C �) �
.< . .:.
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GeneratRevenue � s 5,1$7,035 S 385,706 S 534,077 s 1,250,110 s 3,017,142
Debt Service Total*
676,454 676,454
Road and Bridge
Other (identify)
5 5 3,693,596
Total s I s s
�provide breakdown of certified levy by individual bond on reverse side o�attach an additional sheet
S
Market Value Based Referendum Levy
A-Budget Requirement.................._.............._............ Amounr needed to fund services.
Thesa aids are eertfied to the taxing districf by the Department of Ravenue. They can be used
8-LGA(Loeai Government Aid)..._......»......_......_......_
C-HACA(Homestead&Ag Credit Aid)..._......_......_...So reduce any bud9et item levy requiremeM cambination of items or be deducied proportionai y
(rom ali tevy roquiremeMs. '
D-Other Resources.._......_..............»......_.............._. AU other resourees that wiil be used to finance your ta�cng disuiets budgeL including but not limited
� to other aids,interest income,prior year reserves.grants,etc.
E-Certified Levy....._......»......................_......_.............levy cartified to tha Counry Treasurer-Auditor. ROUNO TO THE NEAREST WHOLE DOILAA.00 NOT
I CEATIFY PENNIES. The Treasurer-Auditors offica wifi deduet FscaiDisparities from all certitied levies.
�
Before signing, please verify the following:
► MAKE SURE THAT ALL LINES ADD ACROSS AND ALL COLUMNS ADD UP TO THE TOTAL L1NE
► BREAKDOWN OF DEBT SERVICE LEW BY INDIViDUAL BOND HAS BEEN PROVIOED
►AMOUNTS REPORTED MATCti ANY OTHER SUPPORTWG OOCUMENTATION INCLUDED
(i,e.,Certified Levy on this form matches amourit on your taxing district's resotution,etc.)
� � Finance Director (612) 322-2031
Sig e of on completing for
Title Phona
9-6-95
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LEVY CERTIFICATION
Debt Service Schedule
Bond Budgef: PYo ert Tax A�ds. ' Other CeR�f�ed Lev
` � Re uirement l.GA HACA Resources. (E A B C D) :
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Oebt Service Total** s S S S 5
*y This must match total on front
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1995 GENERAL PROPERTY TAX LEVY PAYABLE 1996
GENERA�LEVY
GENERAL FUND $2,362,042
5-YEAR CIP PROGRAM FUND $4�0,100
INSURANCE FUND $185,OOa
TOTAL GENERAL LEVY $3,017,142
BONDED INDESTEDNESS
G.O. IMPROVEMENT BONDS 1987A (Authorized-$319,945) $0
G.O. IMPROVEMENT BONDS 1991 A (Authonzed-$0) $0
G.O. IMPROVEMENT BONDS 1992A (Authorized -$0) $0
G.O. COMMUNITY CENTER BONDS 1992C (Authorized-$105,452) $105,452
G.O. IMPROVEMENT BONDS 1992D (Authorized -$5,488) $0
C.O. MUNICIPAL BUILDING BONDS 1992E (Authorized$343,232) $0
G.O. IMPROVEMENT BONDS 1993A (Authorized -$2,653) $0
G.O. IMPROVEMENT REFUNDING BONDS 1993B (Authorized-$345,213) $0
G.O. MUNICIPAL BLDG REFUNDING BONDS 1993D (Authorized-$146,872) $146,872
G.O. BONDS 1993E{Authorized-$64,990) $�,9�
G.O. 80NDS 1994A(Authonzed-$173,030) $173,030
TOTA�BONDED INDEBTEDNESS $490,344
CERTIFICATES OF INDEBTEDNESS
G.O. EGlUIPMENT CEATIFICATES 1991 C (Authorized$49,518) $49,518
TOTAL GERTIFICATES OF INDEHTEDNESS 549,518
PRINCIPAL AND INTEREST ON ARMORY BONDS
ARMORY ANTICIPATORY LEVIES ($95,000 +$521,200,800 x.00798qo) $136,592
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS 5136,592
GRAND TOTAL 1994 PROPERTY TAX LEVY $3,693,596
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