My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
09-11-2024 Council Packet
>
City Council Packets
>
2020-2029
>
2024
>
09-11-2024 Council Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/13/2024 12:04:20 PM
Creation date
9/13/2024 12:00:54 PM
Metadata
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
246
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />11.747 <br />24.491 24.829 24.913 26.757 27.319 29.498 31.432 33.319 34.935 36.979 37.229 37.592 37.811 39.010 42.926 43.362 <br />48.427 <br />62.800 <br />0 <br />10 <br />20 <br />30 <br />40 <br />50 <br />60 <br />70 <br />2024 Final Tax Rates Cities in Ramsey County <br /> <br /> <br />Ways to reduce the Levy: <br /> Utilize existing fund balance. At the end of 2023 unassigned fund balance $3,681,969 or <br />62.85% of 2024 Budget. City Policy 42.5% - 65%. The State Auditor recommends <br />municipalities carry a fund balance of 35% to 50% (This type of approach only works for one <br />time identified expenditures, that would not carry over in the following year’s budget) <br /> Adopt a Safety Margin amount from 2.5% to 1.5%. This will decrease preliminary levy by <br />approximately 1%. <br /> Reduce Council Contingency – Budgeted at $15,000 <br /> Reduce COLA. For each COLA rate adjustment decrease of 1%, the savings is approximately <br />$14,060 in the General Fund or 0.33% levy decrease. COLA is currently budgeted at 3.2%. <br /> Postpone the $30,000 increase to the levy designated for the community building, adopted at <br />$100,000 in 2024 and proposed at $130,000 in 2025. <br /> Postpone the $40,000 Capital Infrastructure Levy increase, adopted at $160,000 in 2024 and <br />proposed at $200,000 in 2025. Staff recommends keeping in the budget at preliminary and <br />evaluate considering the capital infrastructure budget review that will take place October 23 rd. <br />If not needed the City will have an opportunity to decrease at the final levy adoption on <br />December 4th. <br /> Postpone the $20,000 Projects/Facilities Management Contracted Services <br /> <br />Debt Service Levy: <br />The City issued the 2014A Bonds for building the Public Works facility. These bonds contain a levy <br />component. Since the City has been using the Water & Sewer Capital Replacement Fund to pay these <br />bonds instead of the levy, a motion must be passed each year to waive the debt service levy. <br /> <br />Bond <br />Issue <br />Original <br />Principal <br />Date <br />Issued <br />2025 Levy Portion <br />per Bond Register <br />Reduction in <br />Levy <br />2025 Certified <br />Debt Levy <br />2014A <br />Bonds <br />$3,400,000 03-11-14 $184,537.50 ($184,537.50) $0 <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.