Agenda Packets - 2012/08/27 - Laserfiche WebLink

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Item No: 7.D. Meeting Date: August 27, 2012 Type of Business: Council Business City Administrator Review: ______ City of Mounds View Staff Report To: Honorable Mayor and City Council From: Mark Beer, Finance Director Item Title/Subject: Resolution 7977 Authorizing Certification of the Preliminary General Fund Budget and Property Tax Levy for Fiscal Year 2013 State law requires that the City certify a preliminary 2013 General Fund Budget and preliminary 2013 property tax levy to Ramsey County by September 15. The City Council reviewed the General Fund budget at the July and August work session. The City Council directed staff to maintain the tax levy at the current level. The state has certified LGA for 2013 at the same level as 2012 and the City Council has directed staff to not budget for LGA due to budget constraints at the state. The base General Fund levy would be $3,325,809 and special levies for Fire Debt Service of $144,627, police personnel referendum of $181,000, PERA rate increase special levy of $39,145 for a total General Fund levy of $3,690,581. The base levy for the Street Improvement fund would be $300,000. The 2004 Improvement Bond Debt Service Fund has a special levy of $190,800. The total of all base and special levies proposed is $4,181,381, no increase over 2012. No Levy Increase 2012 Home 2012 2013 Home 2013 Taxable City Taxable City Value Tax Value Tax Difference $ 96,218 470.44 $ 89,129 448.28 $ (22.16) 120,272 588.05 111,411 560.34 (27.70) 144,327 705.66 133,693 672.41 (33.24) 149,477 730.84 138,464 696.41 (34.43) 168,381 823.27 155,975 784.48 (38.78) 192,436 940.88 178,257 896.55 (44.32) Once this amount is set, the levy can not be increased. The final levy will be adopted on or about December 10, 2012 along with the General Fund budget and the other City funds budgets. Respectfully submitted, ___________________________ Mark Beer