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CITY OF GEM-LAI E <br />Heritage Hall <br />4200 Otter Lake Road J Gem Lake,. MN 5$11.0 <br />-_ — 651-747-2790/921651-.747 2795 {fain_ �- <br />E=mail city }t emlaketnn.or <br />Date: December i Si 2022 <br />To: Maydr*and City Council Members <br />From: Tom Kelly, City Treasurer <br />RE, Proposed 2023 Budget and Property. Tax Levy. <br />The City Council is�asked to appr6ve*(pa99) Resolution 2022-0031, Adopting the Final 202.3 GMeral <br />Fund Budget and Property Tax Levy. The 2023 Budget for expenditures is proposed at $674;829, which. <br />is a 29.10% increase.from.the 2022 Budget. Major or large changes from tho-.1022 Budget.to the 2023 <br />Budget areas follows: <br />I. Based on the 2015 Refunding Bond schedule the debt levy for.,2023 is set for $77,873.00. In <br />addition, in 2018, the City issued bonds for the improvements:on Scheunernan Road and the -.2023 <br />.debt levy for this issue: is $6;545:00. The two of these debt levies -makes up the City's 2023 debt <br />levy af$84,4M This is a decrease. of $2,864. <br />2. City Council -contingency was increased ftomAX0 to $900. <br />3. Clerk/General Governmentb4dget includes..aG.A.-COLA.irtcreaseapd 910,35D for health <br />insurance coverage. <br />4. Budget includes $75,81.5 for. *nm financial and "itsoftware of which $35,270 will be paid <br />ftb'm ARPA (Covid) furids. <br />5. Police. budget was increased 21.269%to$-115;200-based on budget numbers provided by the City. <br />of White. Bear Lace. <br />6. The cost of fire services coal -increase 1.5.96%..td $34,025.00, <br />7. Building Inspections eliminated the part-time inspector, which results in a budget reduction of <br />$20,559. <br />.8: Road Maintenance budget -includes $22,000 for sealcoating tdads acid $15,000 for trimming <br />boulevard trees; <br />9: Salt/sand and'snow plowing expenditures left at.$15,000 and. $17,000. <br />10..Included a park maintenance budget of.$7.0.-00 for maintainingpark area of the Villas of Gem <br />Lake. <br />11. The-2023. budget includes $20,000.00 for future improvements. <br />12. Revenue and other expenditure line items adjusted based on past history: <br />Based on -the changes listed above the City's.proposed 2023 property tax levy would $669,115, which <br />consists of the.following:. <br />General .Fund levy <br />$568,8.97 <br />Fiscal Disparities <br />15A0 <br />Total General Fund Levy <br />584,697 <br />Debt Levy <br />82,324 <br />Fiscal Disparities <br />1094 <br />Total City Levy $669,115 <br />Tile total City levy is proposed to increase 19.868%. The other piece. to the tax levy.pu&e is.the .City's <br />tax capacity, which increased 12.287% to $.1;601.,998, In addition. the median Koine value increase 66m <br />$352;000 to $395 *800: Based on these increased tax capacities and the City's proposed.tax levy, the <br />median y4ued home would.Uave:a City property.tax increase.of $242.24 or 10. 384%.. <br />Look for us on the World Wide. Web at gemlakemn.org <br />