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Request for HRA Action Date: 08-21-12 Item No: 9.b. Director Approval: Agenda Section: Action Description: 2013 RHRA Budget (HF0121) Requested Action: The RHRA should review the budget prepared by staff and reviewed by the RHRA Finance Subcommittee and make a recommendation to the City Council regarding the 2013 budget and RHRA levy. Budget Process: Per State Statute 469.033, subdivision 6, the HRA must each year formulate and file a budget in accordance with the budget procedure of the City in the same manner as required of executive departments of the City. To request an HRA levy, the RHRA must adopt a resolution and budget and present it to the City Council in September. Assuming approval, it will then be included within the City budget and levy request that is submitted to Ramsey County in September. The City Council holds hearings on all elements of the budget including any proposed HRA levy in December 2012. 2013 RHRA Budget Details As part of preparing the 2013 RHRA budget, staff has used Strategic Plan 2012-2016 and the 2013 Implementation Plan along with discussion from the RHRA Finance Subcommittee. According to Chris Miller, City Finance Director, the maximum levy that the RHRA can impose in 2013 is $698,471. It is proposed that the RHRA seek the maximum levy for 2013 budget year. The proposed 2013 levy is a 50% increase from 2012 levy of $353,500. The impact on a median valued home of $187,600 would be approximately $34 annually, up from $17 currently being past. As you are aware the HRA levy requests have not increased for the last 3 years. The draft 2013 budget shows an estimated carryover amount of $80,000. This carry over is due to unexpended dollars for programming budgeted in 2012 of $3,200 and the reserve contingency of $76,800. In 2013, the following programs will continue to operate, but will receive no additional funds: Roseville Loan Program (consolidated home improvement loan program). 2013 RHRA Budget and Levy - Page 1 of 3