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The Little Canada Fire Department is requesting a 7.26% increase or $31,062 in the fire <br />services contract for 2024. <br />The City contracts for police services with a contract through Ramsey County with six other <br />contracts cities. The City of Little Canada’s portion is increasing a net of 10.34% or $176,387 <br />when considering the net contract (expenditures less revenues) due to a new allocation formula <br />between the contract cities and a reduction in participating cities. The total cost allocated to six <br />cities versus seven, excludes Falcon Heights in 2024. <br />When compared to the other contract cities, Little Canada will pay $183.39 per capita in 2024. <br />This was $162.52 per capita in 2023. <br /> <br /> <br />Due to the large difference in costs per capita, it is also proposed to continue to discuss changes <br />to the current funding formula with the contract cities, in order to be more equitable and <br />sustainable for all the contract cities. <br />SPECIAL REVENUE FUNDS <br /> <br />The City of Little Canada currently operates Special Revenue Funds for its Economic <br />Development Authority, Parks & Recreation, Cable TV, and Recycling & Disposal. There are no <br />major changes when compared to the 2023 budget. Overall the 2024 revenues budget is a <br />3.47% increase from 2023 budget, primarily relating to increases in program fees and charges <br />for services for $33,413, primarily relating to rate adjustments for the Recycling & Disposal <br />Fund. Expenditures budget increased by 8.33% primarily relating to a $4,000 increase in the <br />Cable TV Fund for Capital Equipment and hauler reimbursements in the Recycling & Disposal <br />Fund. <br />DEBT SERVICE FUNDS <br /> <br />The City of Little Canada holds a bond rating of AA+ from Standard & Poor’s. The City of Little <br />Canada currently has two outstanding bond issues ($2,520,000 outstanding as of 12/31/2023) <br />one note issue ($10,628 outstanding as of 12/31/2023), and one interfund loan (approximately <br />$12,000 outstanding as of 06/30/2023) reflected in its Debt Service Funds. There are sufficient <br />funds for these debt service payments in 2024 and in the future without the use of levy dollars. <br /> <br /> - <br /> 20.00 <br /> 40.00 <br /> 60.00 <br /> 80.00 <br /> 100.00 <br /> 120.00 <br /> 140.00 <br /> 160.00 <br /> 180.00 <br /> 200.00 <br />Arden Hills Falcon <br />Heights <br />Little Canada North Oaks Shoreview Vadnais <br />Heights <br />White Bear <br />Township <br />156.58 <br />- <br />179.32 187.43 <br />123.28 <br />144.26 <br />115.59 <br />2024 Police Net Cost Per Capita <br />9