2014 Adopted Budget - Laserfiche WebLink

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'Jif CITY OF GEM LAKE, MN City Hall - 4200 Otter Lake Road Gem Lake, MN 55110-3763 Telephone 651-747-2790 E-mail CityA2emlakeMN.org City Council Members, Citizens and Others: It is my privilege to present the 2014 budget for the City of Gem Lake. This budget, as adopted by the City Council identifies how the City resources will be spent in 2014. This budget is the City's financial management plan and has been designed to be responsive to public service demands and for carrying out services over the coming year. The 2014 budget is the result of sound financial management, and affords some protection for the future operation of the City. It is the City's intent to submit and manage the budget in the most open and straightforward manner possible, which will allow consistent and careful management of all resources. The City continually faces many challenges which draw upon the resources and value judgments of all of us. The City budget focus has been to maintain services provided and existing infrastructure. Public safety remains a priority for the City and this budget includes expenditures for increased patrols and law enforcement. Also for 2014 the City has included in the budget $20,000 for updating and changes to the City's comprehensive and zoning plans. The Ice and Snow Removal budget was increased to reflect past expenditure levels. On the revenue side the largest revenue source is property taxes which make up almost 78% of total revenues for the City. The City remains committed to maintaining the property tax levy possible. To that end the City will use reserves of $84,117 to fund General Fund operations in 2014. The 2014 property tax levy is decreased 9.70% and the City's tax capacity also decrease 7.04%, which results in a tax rate decrease of 3.37% to 26.505%. Based on this most residents would see a decrease in their City property tax bills from 2013 to 2014. As 2014 unfolds, the City is well positioned to meet current and future challenges through sound fiscal management. It is our hope this budget will meet the expectations and need of Gem Lake residents. My sincere thanks are extended to the City Council for their time and effort in the preparation of this document. Respectfully, Tom Kelly City Treasurer 2 Look for us on the World Wide Web at gemlakemn.org