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General Fund
<br />Revenues
<br />2021
<br />Adopted
<br />Budget
<br />2022
<br />Preliminary
<br />Budget % Change
<br />Property taxes $3,217,627 $3,374,750 4.88%
<br />Licenses 110,955 110,955 0.00%
<br />Permits 175,900 212,200 20.64%
<br />Charges for services 79,089 90,320 14.20%
<br />Fines & Forfeits 44,000 44,000 0.00%
<br />Intergovernmental revenue 287,518 287,518 0.00%
<br />Investment income 37,600 36,100 -3,99%
<br />Miscellaneous revenue 126,783 121,067 -4.51%
<br />Transfers in 118,400 106,400 -10.14%
<br />Total General Fund Revenues 4,197,872 4,383,310 4.42%
<br />The property tax levy generates 77% of the revenues in the General Fund and is based on the
<br />operating needs of the City after all other revenues have been subtracted from the expenditures.
<br />Permits budget revenues are proposed to increase by 20% for expected building permit activity
<br />in 2022 from commercial and single-family home construction. In addition, charges for services
<br />were increased by 14% for expected reimbursements from the City of Falcon Heights for contract
<br />building inspections services that the City of Little Canada provides to their city.
<br />Investment income was reduced to reflect the ongoing interest rate environment that is occurring
<br />due to the effects of COVID-19. An interest rate of .50% was used in the 2022 budget. In
<br />addition, transfers in were reduced by $12,000 to reflect the amount that is available to transfer
<br />from the Notes-Fleur Royale Fund to the General Fund.
<br />Expenditures
<br />The overall General Fund expenditure budget is proposed to increase 3.86%.
<br />2021
<br />Adopted
<br />Budget
<br />2022
<br />Preliminary
<br />Budget
<br />Increase /
<br />(decrease )
<br />Amount
<br />%
<br />Change
<br />Personnel Services $1,239,562 $1,334,005 $94,443 7.62%
<br />Commodities 174,105 178,115 4,010 2.30%
<br />Contractual Services 2,791,705 2,820,190 28,485 1.02%
<br />Contingency* 15,000 51,000 36,000 240%
<br />Total General Fund Expenditures $4,220,372 $4,383,310 $162,938 3.86%
<br />*$36,000 is for Classification & Compensation Study Results.
<br />Personnel Services
<br />Personnel services are proposed to increase 7.62%. A 3.30% market rate increase (COLA) has
<br />been included in the budget. This increase is based on a weighted average of the market rate
<br />increases from a survey of cities between 5,000 and 15,000 in population (75%), and the CPI
<br />increase for the Minneapolis/St. Paul/Bloomington region from May 2020 through May 2021
<br />(25%).
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