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<br />
<br />Utility Funds
<br />The first drafts of the Utility Fund Budgets are attached for review: water, sewer and stormwater. City staff
<br />is currently in the process of updating the Utility Funds Long-Term Financial Plan and will have more
<br />information regarding those budgets when that project is complete. Staff expects to be able to present that
<br />plan this fall so that final decisions on fees and budgets can be made by December. Utility Fund Budgets
<br />do not affect the Levy.
<br />
<br />For that Utility Fund Long-Term Financial model, staff will assume, unless directed otherwise by Council,
<br />that a standard across-the-board increase is again the preference.
<br />
<br />Tax Levy & Impact
<br />This section summarizes some of the impacts to the levy and tax rate of the earlier discussions. Additional
<br />historical tables have been added to the Appendices for a more thorough history.
<br />
<br />The following table shows the proposed 2025 Levy and change from prior year;
<br /> 2024 2025 $ Change % Change
<br />General Fund Levy 5,998,212 5,588,958 (409,254) -6.82%
<br />Debt Service Levy 2,923,830 3,251,728 327,898 11.21%
<br />Capital Levies
<br />Infrastructure Reserve Levy (new) - 93,333 93,333
<br />City Center CIP Levy (new) - 50,000 50,000
<br />Park CIP Levy (new) - 100,000 100,000
<br />Vehicle & Equipment Levy* - 400,000 400,000
<br />Street Maintenance Levy* - 600,000 600,000
<br />TOTAL LEVY $ 8,922,042 $ 10,084,019 $ 1,161,977 13.02%
<br />* Vehicle & Street Levies were formerly a Transfer in the General Fund Levy
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<br />Update after Budget Workshop – The proposed Preliminary Levy did change slightly after the Budget
<br />Workshop discussion. As noted above, we shifted dollars from the Infrastructure Levy to the General
<br />Fund Levy, as we removed the Franchise Fees from the GF revenue. (The final amounts of each capital
<br />levy does not need to be determined at this time, as they are set in the resolution as a total of all capital
<br />levies.) In addition, in order to pursue the direction from Council at the 9/10 workshop regarding Lake
<br />Elmo Ave. landscaping, $50,000 was added to Contingency and the GF Levy while we work through that
<br />planning process.
<br />
<br />City Levies over time are shown in the following chart (2025 is proposed);
<br />
<br />
<br /> -
<br /> 2,000,000
<br /> 4,000,000
<br /> 6,000,000
<br /> 8,000,000
<br /> 10,000,000
<br /> 12,000,000
<br />2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
<br />City Levies
<br />G.O. Debt Levy
<br />Library Levy
<br />Capital Levy
<br />General Fund
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