Res. #10-023 - Proposed 2010 Budget & Tax Levy

Home Browse Search

Introduction To the Mayor and City Council, Enclosed is the 2011 budget as prepared by City Staff, |naccordance with City Council guidance. As you are omnsna, the construction of the 2011 budget is ayear long process commencing with Mayor, Council, and Staff input, numerous budget work seasioma, 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 |ewo| of city sarvimas, enhancing the city's response to sidewalk snow removal, mitigating the overall increase in property taxes and maintaining efficient levels Vffund balances. Ultimately, the Mayor and City Council balanced the 2011 byutilizing the following revenue enhancements and expenditure red uotione--incrmasing the general levy by $12,000. using $27,900 in fund balance, continuing cuts to the city festival made in 2010, and freezing employee base salaries, General Fund Budc jet Summa Revenue Property Tax (Tmz Levy): The property tax levy as proposed is projected to increase from $3,231.7OOin2018Lu$2,2O8'G00|m2011 orby1.7Y4. This increase |s attributed bua small general levy increase of 012.800 and an additional $25'000 in debt oen/iuo |evy. The components ufthe 2O11levy are chronicled below: General Levy tinder limit $1,739600 om4aBond Levy o/23,000 2monABond Levy $77,700 2oorABond La'v m/78,500 eono*Bond L°"r $vmuono Total $2,268,800 Special Assessments: The City ie projecting no change in this revenue classification and iabudgeting $25,UOOfor 2011. Licenses and Fee: The City io projecting asmall increase in this revenue classification for 2011 and isbudgeting $38,4ODoro2Y4increase from the 2U10budgeted amount. Fines and Forfeits: The City improjecting nonhenQe|nthinrevenueu|annUioahonandie budgeting S33,5O0for 2O11. Building Inspection (Permits): The City is projecting a decrease in this revenue classification during 2011 and is budgeting $79'000 ora 1690 decrease from the 2010 amended budget amount. Interest Earnings The City ioprojecting interest earnings toremain stable in 2011 and budgeted $30.000. Recycling (Score Funds) The City receives reimbursement inthe form ofSCORE funds from Anoka County for all related recycling aoth/itims. This classifications revenue ioprojected tn remain stable ot$16,B]Ofor 2011.