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2012-12-12 CC Packet
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2012-12-12 CC Packet
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Introduction <br /> Honorable Mayor and City Council, <br /> Enclosed is the 2013 budget as prepared by City Staff, in accordance with City Council guidance. <br /> As you are aware, the construction of the 2013 budget is a year long process commencing with <br /> Mayor, Council, and Staff input, budget work sessions, and finally culminating in the provided <br /> document. Some of the initiatives and goals that were set during this budget process included <br /> maintaining the current level of city services, reconstructing various streets, incorporating a <br /> savings plan for both street maintenance and capital equipment, constructing a new volleyball <br /> court, keeping constant the current overall levy, and maintaining appropriate levels of fund <br /> balances. <br /> General Fund Budget Summary <br /> Revenue <br /> Property Tax (Tax Levy): The property tax levy as proposed is projected to remain <br /> constant at $2,268,600 for 2013 or 0% change from 2012. The components of the 2013 levy are <br /> chronicled below: <br /> General Levy $1,739,600 <br /> 2005 A Bond Levy $70,000 <br /> 2009 A Bond Levy $215,000 <br /> 2011 A Bond Levy $244,000 <br /> Total $2,268,600 <br /> Special Assessments: The City is projecting a 71 % increase in this classification and is <br /> budgeted at $24,000 for 2013. This increase is associated with payment schedules that had their <br /> principal payments deferred until 2013. <br /> Licenses and Fee: The City is projecting an increase in this revenue classification for <br /> 2013 and is budgeting $30,100 or a 19% increase from the 2012 budgeted amount. <br /> Building Inspection (Permits): The City is projecting an increase in this category <br /> during 2013 and is budgeting $65,500 or a 26% increase from the 2012 budgeted amount. <br /> Fines and Forfeits: The City is projecting no change in this revenue classification and is <br /> budgeting $33,500 for 2013. <br /> Recycling (Score Funds): The City receives reimbursement in the form of SCORE <br /> funds from Anoka County for all related recycling activities. This classifications revenue is <br /> projected to remain stable at $16,500 for 2013. <br /> Interest Earnings: The City is projecting a decrease in interest earnings for 2013 and is <br /> budgeting $15,000 for 2013. This decrease is attributed to interest rates continued decline and <br /> the amount of cash able to be invested decreased. <br /> -30- <br />
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