1C, 2010 Proposed Final Budget Overview

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EN HILLS MEMORANDUM DATE: November 16, 2009 Item LC TO: Honorable Mayor and City Council Members Ron Moorse, City Administrator FROM: Sue Iverson, Finance Director/Treasurer SUBJECT: 2010 Proposed Final Budget Overview BackLyround On August 17, 2009, the Council discussed the preliminary budget as presented by staff. The memo from that work session is attached for your reference as Attachment A. At this work session, Council directed staff to make cuts and additions to the budget as outlined below: ■ Eliminate the Assistant City Administrator position and move the savings in the General Fund to "Other Professional Services" under the Administration Department. ■ Reduce costs for the Recording Secretary by $3,000. ■ Reduce the budgeted contribution amount for NYFS from $10,000 to $7,000 and reduce the annual meeting contribution from $1,000 to $250. ■ Add costs for Celebrating Arden Hills in the amount of $10,000. ($25,000 budget and $10,000 in donation revenues) ■ Employee Insurance was reduced from a 6% increase to 1 % increase as we have now received the 2010 rates from our insurance providers. This decreased the budgeted contribution per employee by $35.35 per month (new increase is $10.15). Attachment B includes budget analysis sheets for all departments and funds reflecting the budget adjustments listed above. On September 14, 2009 the City Council adopted an operating levy of $3,057,666. This levy equates to a 3.7% increase over the 2009 levy. Staff has estimated that the overall estimated levy limit was $3,152,235. This proposed levy equates to a $615.34 tax bill on the median valued home in Arden Hills of $278,800. This is an annual increase of $24.61 or 4.2%. Attachment C is the Proposed Pay 2010 Property Tax Impact Worksheet giving comparisons from 2009 to 2010. City Council Meeting \\Metro-inet\ardenhills\Admin\Council\Agendas & Packet Information\2009\11-16-09 Worksession\Packet Information\1 C 2010_Budget_Overview.doc Page 1 of 2