2010-12-08 CC Packet - Laserfiche WebLink

Home Browse Search

Introduction To the Mayor and City Council, Enclosed is the 2011 budget as prepared by City Staff, in accordance with City Council guidance. As you are aware, the construction of the 2011 budget is a year long process commencing with Mayor, Council, and Staff input, numerous budget work sessions, and finally culminating in the provided document. Some of the initiatives and goals that were set forth during this budget process included maintaining the current level of city services, enhancing the city's response to sidewalk snow removal, mitigating the overall increase in property taxes and maintaining efficient levels of fund balances. Ultimately, the Mayor and City Council balanced the 2011 by utilizing the following revenue enhancements and expenditure reductions—increasing the general levy by $12,000, continuing cuts to the city festival made in 2010, and freezing employee base salaries. General Fund Budaet Summarv Revenue Property Tax (Tax Levy): The property tax levy as proposed is projected to increase from $2,231,700 in 2010 to $2,268,800 in 2011 or by 1.7%. This increase is attributed to a small general levy increase of $12,000 and an additional $25,000 in debt service levy. The components of the 2011 levy are chronicled below: Genera/ Levy under limit $1, 739,600 2004 8 Bond Levy $123,000 2005 A Bond Levy $77,700 2007 A Bond Levy $17$500 �� 2009 A Bond Lery $15Q000 Total $2,268,800 Special Assessments: The City is projecting a 52% decrease in this classification and is budgeted at $12,000 for 2011. This decrease is attributed to the refinance of assessments for 6 parcels associated with the Hunters Crossing two development. Licenses and Fee: The City is projecting a small increase in this revenue classification for 2011 and is budgeting $30,400 or a 2% increase from the 2010 budgeted amount. Building Inspection (Permits): The City is projecting a decrease in this revenue classification during 2011 and is budgeting $59,000 or a 37% decrease from the 2010 amended budget amount. Fines and Forfeits: The City is projecting no change in this revenue classification and is budgeting $33,500 for 2011. Interest Earnings The City is projecting interest earnings to decrease in 2011 and is budgeting $20,000 or a 33% decrease from the 2010 budgeted amount. Recycling (Score Funds) The City receives reimbursement in the form of SCORE funds from Anoka County for all related recycling activities. This classifications revenue is projected to remain stable at $16,500 for 2011.