CCP 09232024 - Laserfiche WebLink

Home

53 54 55 The overall 2025 City Manager Recommended Budget, excluding the EDA, is $73,410,845, which is an 56 increase of $3,266,494 or 4.44%. This increase is the result of a $500,000 investment in capital 57 equipment and infrastructure; $1.8 million invested in personnel costs and $900,000 in increased 58 contractual costs and other inflationary costs. 59 60 At the September 16, 2024, City Council meeting, the Finance Commission presented a 61 recommendation in support of the City Manager’s preliminary budget and tax levy increase. 62 63 At the August 19, 2024, meeting, the council raised three items that they wanted to consider adding to 64 the budget. If the Council wants those items included in the budget, now would be the time to add 65 them. The preliminary budget sets the ceiling for the property tax levy and adjustments can be made 66 before the final levy is approved in December. The three items raised in August were: 67 Add the HR Manager position – estimated at $146,000 (Information about the position is 68 included in Attachment 4 as part of the City Manager Budget Memo) 69 Add funding for Tubman - $20,000 (Information about Tubman's services and request as well as 70 additional information about NYFS's program is included as Attachment 9) 71 Add increased council pay equal to the staff COLA of 3% or a different amount. (Information 72 about City Council/Mayor pay is included as Attachment 10) 73 74 If the HR Manager and funding for Tubman are included in the preliminary budget and tax levy, the city 75 levy increase would be 5.75% versus the current proposal which is a 5.17% increase. 76 77 Included in this packet is the estimated impact of the City Manager’s recommended tax levy on various 78 valued homesteaded single family residential properties and commercial properties, Attachment 79 7. These are estimates that only reflect the city’s share of the property tax. 80 81 On September 16, 2024, the EDA board approved a 2025 preliminary EDA levy of $364,856. The 82 Council is now asked to formally adopt the 2025 preliminary EDA Levy by resolution, which is included in 83 Attachment 3. 84 85 Policy Objectives 86 Adopting a preliminary budget and tax levy is required under MN State Statutes. 87 88 Equity Impact Summary 89 A continued priority remains centered around equity and inclusion. This budget, like past budgets, 90 provides funding for a variety of equity initiatives including funding for translation services to better serve Page 3 of 4 Qbhf!49!pg!345