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Descri tion Amount <br />Equipment replacement 85,000 <br />IT E ui ment re lacement 75,000 <br />Street Li ht re lacement 25,000 <br />Total $ 185,000 <br />New Considerations <br />Descri tion Amount <br />Human Resources Information S stem 40,000 <br />Im lement Cotn ensation Study results 50,000 <br />Total $ 90,000 <br />As noted above, the tota12013 Preliminary levy was $17,319,826. <br />� 2013 Preliminary Budget <br />The 2013 Preliminary Budget for the tax-su�orted programs is $21,832,042, an increase of $2,363,482 or <br />� 12.1 %. The majority of this increase ($1,650,000) is for added debt payments related to the 2011 and 2012 <br />Bonds issued for the new fire station and Park Renewal Program. <br />The Preliminary Budget for the non tax-su�orted programs is $23,653,968, an increase of $1,621,774 or <br />7.4%. The increase is due to added cost of wholesale water purchase from the City of St. Paul and <br />wastewater treatment charges from the Met Council, as well as general inflationary increases. It also <br />includes an additional staff position for the License Center and Information Technology divisions. Both of <br />these positions are funded by non-tax revenue sources. <br />Taxpayer Impact <br />For a median-valued home of $206,300 that experienced a projected 8.7% decline in assessed market value, <br />the 2013 city taxes will be $747, an annual increase of $62 or $5.18 per month. In exchange, residents will <br />� receive round-the-clock police and fire protection, well-maintained streets and parks, and a significant <br />investment in the City's Fire Service and Parks & Recreation system. <br />The Council has also adopted a preliminary HRA Levy of $698,471, an increase of $344,971. This is <br />expected to have an added impact of $1.28 per month for a median-valued home. <br />In the event the Council chooses to lower the recommended tax levy, it will result in a savings of $0.41 <br />cents per month for a typical homeowner for each $100,0001evy reduction. <br />POLICY OBJECTIVE <br />Adopting a final budget and tax levy is required under Mn State Statutes. <br />FINANCIAL IMPACTS <br />The financial impacts are noted above. <br />STAFF RECOMMENDATION <br />Staff Recommends the Council adopt the 2013 Tax Levy and Budget Levy as outlined in this report and in <br />Page 2 of 8 <br />