2020 Adopted Budget - Laserfiche WebLink

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CITY OF GEM LAKE, MN 4200 Utter Lake Road Gem Lake, Minnesota 55110 City Council Members, Citizens and Others: It is my privilege to present the 2020 budget for the City of Gem Lake. This budget, as adopted by the City Council identifies how the City resources will be spent in 2020. 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 2020 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 to funds to hire a building/development inspector to ensure city codes are followed. Also for 2020, the City has included increases to both the police and fire budgets and a contingency budget of $10,000. $30,000 is budgeted for the future construction of a sidewalk or pathway along County Road E for pedestrian safety. The Ice and Snow Removal budget was increased to reflect past expenditure levels. Finally, $25,000 is being budgeted to fund future capital projects in the City. On the revenue side, the largest revenue source is property taxes, which make up almost 65.38% of total revenues for the City. The 2020 property tax levy is increased 12,05% and the City's tax capacity also increase 9,77%, which results in a tax rate of 41.227% compared to 40.457% in 2019. Based on this most residents would see an increase in their City property tax bills from 2019 to 2020. As 2020 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 Look for us on the World N�ide Web at gemlakemn.org