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2013 Approved Budget
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2013 Approved Budget
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12/20/2013 3:30:08 PM
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City of Roseville — 2013 Budget <br />Discussion Items <br />From 2009-2013, overall funding sources for the City's governmental fund operations have remained <br />fairly stable with a few exceptions. <br />S�nce 2009, the City has become more reliant on the property tax to fund current operations. This has <br />resulted in large part due to the loss in Homestead Credit State -Aid reimbursement. This was an <br />intended effect resulting from the State Legislature's decision to remove the homestead credit <br />reimbursement to help finance the Mate's takeover of the general education (per pupil) funding. The <br />City's reliance on the property tax also resulted from the decline in interest earnings and other non -tax <br />revenue sources. For 2013, the increase in the tax levy was necessary to pay for added inflationary -type <br />costs and to pay for added debt service costs related to the bonds issued to finance the construction of a <br />new fire station and park renewal program. <br />$18 <br />b <br />$17 <br />$16 <br />$15 <br />$14 <br />$13 <br />$12 <br />Property Tag Levy <br />2009 2010 2011 2012 2013 <br />Over the next 5 years, it is expected that the City's tax levy will need to increase at levels that are above <br />inflation. This will be necessary to offset expected increases in personnel- related costs and to continue <br />improving the City's asset replacement funding mechanisms. <br />The City expects to see stabilizing investment earnings over the next few years — albeit at lower levels <br />than five or six gears ago. ale cash reserve levels are expected to remain relatively unchanged, long- <br />term interest rates remain near low historical levels. <br />Charges for Services also remain a significant revenue source for the City, accounting for approximately <br />11 % of total Governmental Fund revenues. 'These revenues include; internal service charges from the <br />General Fund to other general purpose functions, IT- related charges collected from joint partnerships, <br />and recreation program fees. These revenues are expected to grow at inflationary -type levels in the <br />future. They are depicted below. <br />16 <br />
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