Laserfiche WebLink
REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 9. <br /> nitODS DDS <br /> STAFF REPORT Report Number: 9 3-610WS <br /> NEW <br /> AGENDA SESSION DATE September 7, 1993 Report Date: 9-2-93 <br /> DISPOSITION <br /> Item Description: <br /> 1994 Budgets <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this repo •' <br /> - Comments attached. <br /> Explanation/Summary (attachsupplement sheets as necessary.) <br /> SUMMARY; <br /> The Tuesday September 7, 1993 Agenda Session is the last meeting to <br /> discuss the 1994 Budget before the City is required to certify a <br /> proposed property tax levy to Ramsey County and to select a date for a <br /> Public Hearing on the 1994 Budget. This memorandum will discuss the <br /> progress made on the 1994 Budget and the actions which need to be taken <br /> at the September 13, 1993 Council Meeting relative to the 1994 Budget. <br /> GENERAL FUND BUDGET <br /> The Proposed 1994 General Fund Budget of $3, 163,895 is 6.25% more than <br /> the 1993 Budget. A copy of the General Fund Revenues & Expenditures <br /> Budgets are attached for your review. <br /> The proposed 1994 General Fund Budget was balanced by using $125, 312 of <br /> franchise fees and by an increase in the property tax levy of 10. 36%. <br /> For the average homeowner($84, 000 home) this represents an increase in <br /> taxes of $59.86 (29.54%) for 1994. <br /> Please note that the Proposed 1994 General Fund Budget is based upon the <br /> assumption that the Street Light Utility, which will sunset December 31, <br /> 1993 , will be continued for 1994 . If the Street Light Utility should <br /> not be continued, <br /> $-75,363 of proposed 1994 street light expenditures <br /> would have to be added to the General Fund Budget. The addition of <br /> these expenditures to the Proposed 1994 General Fund Budget would <br /> necessitate either a reduction of other expenditures or an increase in <br /> property taxes. <br /> Should the Council choose to levy property taxes in lieu of renewing the <br /> street light utility an increase in the levy of $75,363 would be <br /> required. This would result in an increase in property taxes of $17. 02 <br /> for the average homeowner. <br /> RECOMMENDATION: NOQ // is DnBrager, Finances Director-Treasurer <br />