6.1.
CC Regular Session
- Meeting Date:
- 12/13/2022
- By:
- Diana Lund, Finance
Information
Title:
Public Hearing on 2023 Tax Levies and General Fund Budget
- Adopt Resolution #22-278 Adopting the 2022, Payable 2023 Municipal Tax Levy
- Adopt Resolution #22-279 Adopting the 2023 General Fund Budget
- Adopt Resolution #22-280 Adopting the 2023 Economic Development Authority (EDA) Budget
Purpose/Background:
Purpose: The City is required to hold a meeting where the city's budget and levy will be discussed and the public can give input. The City is required to adopt a levy and certify to the county auditor by December 31, 2022.
A budget/levy slide presentation will be provided that will outline the city's proposed 2023 levies and General Fund Budget.
A brief recap of the proposed levy to be adopted is as follows:
Levy Components: General Fund Levy: $13,145,820 ($11,712,590 - Year 2022)
Pavement Management Levy: $ 1,756,889 ($1,673,227 - Year 2022)
Debt Service Levies: $ 3,249,861 ($1,851,679 - Year 2022)
EDA Levy: $ 82,610 ($75,360 - Year 2022)
The levy increase of $2,922,324 from payable 2022 to payable 2023 is largely attributed to the issuance of a Street Reconstruction Bond that has a debt levy of $1,088,542 included in the debt service levy and personnel costs for existing staff (COLA, wage steps, Health, Retirement (PERA) and workers comp in the amount of $914,558.
Other Factors of Levy Increase:
2023 General Fund Budget: $17,055,153 ($14,492,640 - Year 2022)
2023 EDA Budget: $87,610 ($85,360 - Year 2022)
All EDA and General Fund documents are included together, as the EDA levy calculates into the total general levy calculation of the city and thus accounts for the several motions listed belo
A budget/levy slide presentation will be provided that will outline the city's proposed 2023 levies and General Fund Budget.
A brief recap of the proposed levy to be adopted is as follows:
- 2022 Final Overall Levy: $18,235,180 - a $57,065 (reduction in debt levy on 2022 Street Reconstruction Debt Issuance) from September Preliminary levy adopted September 27, 222, of $18,292,245.
- The final adopted levy in 2022 was $15,312,856
Levy Components: General Fund Levy: $13,145,820 ($11,712,590 - Year 2022)
Pavement Management Levy: $ 1,756,889 ($1,673,227 - Year 2022)
Debt Service Levies: $ 3,249,861 ($1,851,679 - Year 2022)
EDA Levy: $ 82,610 ($75,360 - Year 2022)
The levy increase of $2,922,324 from payable 2022 to payable 2023 is largely attributed to the issuance of a Street Reconstruction Bond that has a debt levy of $1,088,542 included in the debt service levy and personnel costs for existing staff (COLA, wage steps, Health, Retirement (PERA) and workers comp in the amount of $914,558.
Other Factors of Levy Increase:
- $231,474 Personnel additions of a full-time Patrol Officer, full-time Engineering Tech II, part-time Community Service Officer, additional hours for Recreation Specialist and Permit Tech and reclasses of Police Records Technician to Data Analyst and Engineering Tech II to Engineering Tech III
- $309,640 in Debt Service Levy (Not including debt levy attributed to 2022 Street Reconstruction Debt noted above)
- $287,198 Line item budget increases
- $83,662 Pavement Management Levy Increase - additional 5% per year as recommended
- $7,250 EDA levy increase
2023 General Fund Budget: $17,055,153 ($14,492,640 - Year 2022)
2023 EDA Budget: $87,610 ($85,360 - Year 2022)
All EDA and General Fund documents are included together, as the EDA levy calculates into the total general levy calculation of the city and thus accounts for the several motions listed belo
Notification:
At is regular meeting of September 27, 2022, City Council agreed upon December 13, 2022 at 7:00 PM to hold a public meeting on the 2023 levy and budget. This date and time was printed on the proposed tax statements that were sent to each taxable property and public hearing notice was also posted in the Anoka County Union Hearald.
Time Frame/Observations/Alternatives:
Option #1 - Motion for City Council to Adopt Resolutions #22-278 Adopting the 2022 Payable 2023 Municipal Tax Levies(General, Pavement Management, EDA and Debt Service) in the amount of $18,235,180 Adopt Resolution #22-279 Adopting the 2023 General Fund Budget in the amount of $17,055,153 and Adopt Resolution #22-280 Adopting the 2023 EDA Budget in the amount of $87,610.
Option #2 - Motion for City Council to Adopt Resolutions as stated above in Option 1, but with the following modifications:________________
Option#3 - Motion for City Council to not adopt the attached resolutions. If a final levy is not adopted it reverts back to the final levy of 2022 in the amount of $15,312,856.
Option #2 - Motion for City Council to Adopt Resolutions as stated above in Option 1, but with the following modifications:________________
Option#3 - Motion for City Council to not adopt the attached resolutions. If a final levy is not adopted it reverts back to the final levy of 2022 in the amount of $15,312,856.
Funding Source:
The EDA levy supports the EDA budget, the General Levy supports the General Fund Budget and debt service levy supports the respective annual debt service payments and the Pavement Management Levy supports the City's pavement management program.
Recommendation:
Staff recommends Option #1 as outlined above.
Outcome/Action:
Motion to Adopt Resolution #22-278 Adopting the 2022, Payable 2023 Municipal Tax Levies (General, Pavement Management, EDA and debt service) in the amount of $18,235,180; and
Motion to Adopt Resolution #22-279 Adopting the 2023 General Fund Budget in the amount of $7,055,153; and
Motion to Adopt Resolution #22-280 Adopting the 2023 EDA Budget in the amount of $87,610.
Motion to Adopt Resolution #22-279 Adopting the 2023 General Fund Budget in the amount of $7,055,153; and
Motion to Adopt Resolution #22-280 Adopting the 2023 EDA Budget in the amount of $87,610.
Attachments
- Reso #22-278 Adopting the 2022/Payable 2023 Municipal Tax Levy
- Reso #22-279 Adopting the 2023 General Fund Budget
- Reso #22-280 Adopting the 2023 EDA Budget
- 2023 General Fund Budget
- 2023 EDA Budget
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 12/07/2022 06:56 PM |
- Form Started By:
- Diana Lund
- Started On:
- 11/28/2022 09:53 AM
- Final Approval Date:
- 12/07/2022