Public Hearing on 2018 Tax Levies and General Fund Budget & Adopt Resolution #17-12-302 Adopting the 2017, Payable 2018 Municipal Tax Levy; Adopt Resolution #17-12-303 Adopting the 2018 General Fund Budget and Adopt Resolution #17-12-304 Adopting the 2018 Economic Development Authority (EDA) Budget

 
 

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 28, 2017. A budget/levy slide presentation will be provided that will outline the city's proposed 2018 levies and General Fund Budget. A brief recap of this presentation are as follows: 2018 Final Overall Levy: $11,374,395-no reduction from September Preliminary levy of $11,374,395.  The final adopted levy in 2017 was $10,479,058.       Levy Components:  General Fund Levy:      $9,395,242 ($8,670,635 - Year 2017)                                        Debt Service Levies:   $1,875,172 ($1,704,442- Year 2017)                                        EDA Levy:                   $  103,981 ($103,981 - Year 2017) The levy increase from payable 2017 to payable 2018 is mostly attributed to a full-time Senior Planner, full-time Park Maintenance Worker, part-time Administrative Assistant in Engineering, current IT Tech from part-time to full-time, election year (regular & special election), health & dental increases, the first year debt financing of the third road reconstruction projects that included Alpine Drive and Sunwood Drive, and increased debt service on Fire Station #2.    2018 Final Tax Capacity Rate:  41.656% (42.454% - Year 2017)    2018 General Fund Budget:  $12,123,284 ($11,128,759 - Year 2017).    2018 EDA Budget:  $111,481 ($113,981 - Year 2017) 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 below.

At is regular meeting of September 26, 2017, City Council agreed upon December 12, 2017 at 7:00 PM to hold a public meeting on the 20187 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 on December 1, 2017.

Option #1 - Motion for City Council to Adopt Resolutions #17-12-302 Adopting the 2017 Payable 2018 Municipal Tax Levies(General, EDA and Debt Service) in the amount of $1,374,395; Adopt Resolution #17-12-303 Adopting the 2018 General Fund Budget in the amount of $12,123,284 and Adopt Resolution #17-12-304 Adopting the 2018 EDA Budget in the amount of $111,481.

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 2017 in the amount of $10,479,058.

The EDA levy supports the EDA budget and the General Levy supports the General Fund Budget and debt service

Staff Recommends Option #1 as outlined above.

Motion to Adopt Resolution #17-12-302 Adopting the 2017, Payable 2018 Municipal Tax Levies (General, EDA and debt service) in the amount of $11,374,395

and

Motion to Adopt Resolution #17-12-303 Adopting the 2018 General Fund Budget in the amount of $12,123,284

and

Motion to Adopt Resolution #17-12-304 Adopting the 2018 EDA Budget in the amount of $111,481.