12-15-2021 Council Packet - Laserfiche WebLink

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There are currently nine employees that are moving through the merit step plan. These employees receive these merit steps once per year, based on a success performance review and funds available in the budget. Approximately $13,230 of the General Fund levy increase relates to employees in the merit step pay plan. This has a levy impact of approximately .40%. All other employees are at the top of the step plan, and only receive the market rate (COLA) adjustment. Debt Service Levy: The City issued the 2014A Bonds for building the Public Works facility. These bonds contain a levy component. Since the City has been using the Water & Sewer Capital Replacement Fund to pay these bonds and not the levy. a motion must be passed each year to waive this levy. Bond Issue Original Principal Date Issued 2022 Levy Portion per Bond Register Reduction in Levy 2022 Certified Debt Levy 2014A Bonds $3,400,000 03-11-14 $183,618.75 ($183,618.75) $0 Changes in Other Funds since Preliminary Budget: Few changes were needed to be made in the other funds since the preliminary budget/levy was discussed in September. None of these changes will affect the property tax levy. Those changes are summarized below: • Special Revenue Funds o $15,000 for Capital Outlay in the Cable TV Fund. Cable racks and monitors were included in the 2021 budget but will not be purchased until 2022 so they have been added to the 2022 budget. o Moved EDA Fund transfer in from 2021 to 2022. • Capital Project Funds-Other o Budgets were updated to match the 2022 projects identified in the 2022-2031 Capital Improvement Plan approved in November. In addition, the fire aerial truck had been anticipated to be paid in two years (2022-$500,000 and 2023- $852,000). Due to anticipated discounts if 50% down is paid at the time of order, the budget has been updated as follows: (2022-$700,000 and 2023-$652,000). • Capital Projects-TIF o A budget was included for the new TIF District 7-3 in the amount of $4,220. Future tax increment revenue will fund these expenditures. • Enterprise Funds o In the Water Fund, the cost of water was increased due to the rate increase of 9.9% that has been adopted by St Paul Regional Water Services. To offset a portion of the increase, water rates were increased between 2.9% to 4.2%. o In the Sewer Fund, sewer rates were decreased from 4% to 2.5% to 3% to offset the rate increase in the Water Fund.