11-29-2023 Council Packet - Laserfiche WebLink

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Revenue changes: The property tax levy generates 69.80% of the revenues in the General Fund and is based on the operating needs of the City after all other revenues have been subtracted from the expenditures. Excluding Tax Levy revenues, in total revenues are a net increase of 65.55% or $700,594. The increase in total revenues is attributable to the following factors: • Interest & Miscellaneous – Increase of $560,634 or 392.50%  Includes $471,111 – One-time Police aid • Intergovernmental – Increase of 46.70% or $128,658  LGA $119,931 increase • Transfers – Decrease of 10.06 or $10,979 (Based on CY Projections) • Licenses – Decrease of 0.53% or $542 • Permits – Increase of 3.81% or $11,603 • Charges for Services – Increase of 9.72% or $4,549  Old Fire Hall Rentals and Reimbursements from Falcon Heights • Fines & Forfeits – Increase of 9.09% or $9,221 (Updated average / CY Projections) Taxes 3,786,436 4,088,523 $302,086.68 7.98% Licenses 102,042 101,500 $ (542.00)-0.53% Permits 304,360 315,963 $ 11,602.67 3.81% Charges for Services 94,869 104,090 $ 9,220.65 9.72% Fines & Forfeits 40,000 42,000 $ 2,000.00 5.00% Intergovernmental 275,478 404,136 $128,657.80 46.70% Interest & Misc 142,835 703,469 $560,634.07 392.50% Transfers In 109,134 98,155 $ (10,979.00)-10.06% Total 4,855,154 5,857,835 1,002,681 20.65% Revenue Type 2023 Budget 2024 Proposed $ Change % Change Strategic Plan Initiatives included in 2024 General Fund Budget: 1. Enhancing Identity and Empowering Community  Translation of newsletter into another language. Spanish only and exploring a second  Community Relations Manager – Hired as of July 2023  Conduct community survey  Develop community outreach program  Diversity, Equity, & Inclusion (DEI) initiative  Community vision event/activity  Community culture campaign