Laserfiche WebLink
STAFF REPORT <br />TO: Mayor Keis and Members of City Council <br />FROM: Chris Heineman, City Administrator <br />Brenda Malinowski, Finance Director <br />DATE: December 16, 2020 <br />RE: 2021 Budget <br />ACTIONS TO BE CONSIDERED: <br />1.The City Council is asked to conduct a public hearing as part of the 2021 budget approval <br />process (staff will have a brief presentation) <br />2.Motion to adopt Resolution 2020-12-162, adopting the 2021 Budget in the amount of <br />$12,198,532 <br />3.Motion to adopt Resolution 2020-12-163, approving the 2020 Tax Levy, Collectible in 2021 in <br />the amount of $3,582,330 <br />4.Motion to approve the 2021 salary wage schedule <br />BACKGROUND: <br />A preliminary tax levy increase of 3.48% was adopted by the City Council on September 23rd. The final <br />levy may not be increased from the preliminary levy, but the final levy may be reduced from the <br />preliminary levy. The preliminary levy was used by Ramsey County to prepare the notices of estimated <br />property taxes that were mailed to the property tax owners in November. Those notices listed a public <br />Truth in Taxation (TNT) hearing on the 2021 budget to be held at tonight’s meeting. <br />Due to the COVID-19 pandemic, the 2021 budget has been developed with a focus on creating the lowest <br />property tax levy possible and minimizing the impact on local residents and business owners. <br />Property Tax Levy: <br />For 2021, the final proposed tax levy is $3,582,330 or 2.96% more than the 2020 levy. <br />Levy Component Final 2020 <br />Preliminary <br />2021 <br />Final Proposed <br />2021 <br />$ Increase <br />(Decrease) <br />from 2020 <br />% <br />Increase <br />(Decrease) <br /> General Fund $3,197,083 $3,317,986 $3,300,130 $103,047 3.22% <br /> Fire Equipment Fund 160,000 160,000 160,000 - 0% <br /> Infrastructure Fund 122,200 122,200 122,200 - 0% <br />Gross Levy $3,479,283 $3,600,186 $3,582,330 $103,047 2.96%