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REQUEST FOR COUNCIL CONSIDERATION Agenda Section: <br /> 10.6 <br /> STAFF REPORT Report Number: 93-544WS <br /> 111706 <br /> MU° <br /> AGENDA SESSION DATE July 6, 199.3 Report Date: 7-1-93 <br /> DISPOSITION <br /> Item Description: 1994 Budget <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> Attached please find copies of the first drafts of 1994 Budgeted Revenues, the Proposed 1994 <br /> General Fund Expenditure Summary, and the individual Departmental Budget Summaries for <br /> your review. The following paragraphs will provide an overview of revenues vs. expenditures and <br /> discuss some of the issues which need to be addressed as we begin the process of developing a <br /> balanced budget. <br /> REVENUES <br /> • Property Taxes show an increase of 8.06% as a result of a change in State Law and <br /> not issuing Capital Notes. The property tax levy limitation law is no longer in effect. <br /> In order to save time and paperwork I have included the amount of Capital Notes <br /> from 1993($100,955) in the Current Ad Valorem account plus the 1993 property tax <br /> levy. Overall the property tax levy for 1994 is the same as 1993. <br /> • Licenses & Permits are estimated to be 5.56% more for 1994. Liquor licenses are <br /> up approximately $4,000 as a consequence of being underestimated in the 1993 <br /> budget. The City is also licensing more garbage haulers and that revenue has also <br /> increased. Permit revenues are expected to be about the same in 1994 as in 1993. <br /> • Fines & Forfeits continue to decline as a result of a drop in the amount of court <br /> fines from Ramsey County Courts and the Highway Patrol. 1994 revenues are <br /> estimated to decrease by 15.77%. <br /> • Intergovernmental Revenues are shown as having a 14.95% overall increase for 1994. <br /> This is misleading due to the 1993 Local Government Aid(LGA) budget estimate <br /> which was $125,000 less than the State Revenue Department certified the City would <br /> receive in 1993. The LGA estimate was lowered by $125,000 in anticipation of cuts <br /> by the Legislature to solve the State's budget woes. The 1994 estimate is <br /> $19,519(3.37%) more than the amount certified for 1993. 1993 Actual Police Aid <br /> and Street Aid were lower than that received in 1992 and the 1994 budget estimate <br /> _ reflect, that reduction. <br /> Don Brager, Finance ctor-Treasurer <br />