Agenda Packets - 1992/12/28 - Laserfiche WebLink

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GENERAL FUND REVENUE COMMENTARY For the initial Revenue estimate Current Ad Valorem property taxes were kept at 1992 levels. Delinquent tax collections have decreased slightly and with them penalties and interest. Forfeited tax sales have shown a slight increase; 2.70% for 1993. Overall General Property taxes is estimated to increase 1/10 of 1%. License and permit revenues are estimated to decrease by 2.74% in 1993. This decrease is a result of the current economic downturn, the State of Minnesota beginning to license contractors that were formerly licensed by the City, and the fact that a major portion of the Mounds View Business Park was completed and accounted for higher than normal activity in these accounts in previous years. Fines and forfeitures are estimated to decrease by 6.37% overall in 1993 . This decrease is expected to be a result of a continuing trend of decreased Ramsey County court fines which has occurred over the past several years. Minnesota Highway Patrol fines are anticipated to increase by 8.00% in 1993. Administrative Offenses is expected to show an increase of 1.06% based upon the average amount collected for the past three years. Intergovernmental revenues are expected to increase by approximately 1.49% in 1993. This increase is primarily attributable to a 3% increase in the amount of Local Government Aid that the City will be receiving in 1993 per Department of Revenue estimates. Considering the State's present "budget crises" and the legislatures past actions of balancing the State's Budget by cutting LGA it would be prudent to designate some of the fund balance of the General Fund for revenue shortfalls. Other intergovernmental revenues are expected to remain constant or to show a modest increase in 1992. Police aid is expected to increase slightly while street aid is expected to decline by 8.99%. . Current services include subdivision, rezoning and variance fees as well as miscellaneous fees for police reports, photo copies and other customer services. Current services revenues are estimated to decline by 39.28% overall. This decrease is primarily a result of having budgeted for administrative charges for planning cases and reviews and not realizing budget estimates. Therefore for 1993 nothing is budgeted for this item. Otter current service items_are showing_increases. The amount presently budgeted represents the average amount collected over the past three years. Other revenues include investment interest, interfund transfers and miscellaneous revenues. Other revenues is anticipated to decrease by 2.94% over the amount budgeted for 1992 as a