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<br />Item No: 7.A. <br />Meeting Date: September 14, 2009 <br />Type of Business: Council Business <br />City Administrator Review: ______ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 7494 Authorizing Certification of the Proposed <br />General Fund Budget and Property Tax Levy for Fiscal Year <br />2010 <br /> <br /> <br />State law requires that the City certify a proposed 2010 General Fund Budget and proposed 2010 <br />property tax levy to Ramsey County by September 15, 2009. This was last discussed at the <br />September 8, 2009 work session. <br /> <br />The City Council directed staff to use a preliminary General Fund levy increase of 1% or $37,994, this <br />does not off-set the expected Local Government Aid cuts anticipated of $340,000, but with one-time <br />expenditure reductions and use of fund balance the City can balance the 2010 budget. Council also <br />directed staff to include a Street Improvement Fund levy of $300,000 or 7.9%. <br /> <br />The base General Fund levy would be $3,250,519 and special levies for Fire Debt Service of <br />$154,555, police personnel referendum of $208,000, PERA rate increase special levy of $34,704 for a <br />total General Fund levy of $3,647,778. The base levy for the Street Improvement fund would be <br />$300,000. The 2004 Improvement Bond Debt Service Fund has a special levy of $189,609. The total <br />of all base and special levies proposed is $4,137,387, an increase of $337,994 or 8.9% over 2009. <br />Sample Estimated Home Tax Impact <br />City of Mounds View Only <br /> <br /> 8.90% <br />2009 Home 2009 2010 Home Increase <br />Taxable City Taxable 2010 City <br />Value Tax Value Tax Difference <br /> <br /> $ 128,546 $ 415.86 $ 119,921 495.75 $ 79.89 <br /> 160,683 519.82 149,901 619.68 99.86 <br /> 192,819 623.79 179,881 743.62 119.83 <br /> 199,700 646.05 186,300 770.16 124.11 <br /> 224,956 727.75 209,861 867.56 139.80 <br /> 257,092 831.72 239,841 991.49 159.77 <br /> <br /> <br />Once this amount is set, the levy can not be increased. The final levy will be adopted on December <br />14, 2009 along with the General Fund budget and the other City funds budgets. <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br /> <br />