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ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES <br />• Dramatic increases in local government aids and other state sources are not anticipated, based on <br />legislation at the time of writing this report. <br />• Property tax collection rates are expected to remain strong, at or near the 2023 level. <br />• The 2024 budget approved for the General Fund anticipates expenditures and other financing uses <br />to exceed revenues and other financing sources by $976,000, which is included in assigned fund <br />balance at December 31, 2023. <br />All of these factors were considered in preparing the City's budget for the 2024 fiscal year. <br />Utility rate studies are prepared for each of the City's four utilities every year. Water, sewer, street light, <br />and storm water rates will all increase as approved for 2024. <br />REQUESTS FOR INFORMATION <br />This ACFR is designed to provide a general overview of the City's finances for all those with an interest in <br />the government's finances. Questions concerning any of the information provided in this report, or requests <br />for additional financial information, should be addressed to the Office of the Finance Director, <br />2401 Mounds View Boulevard, City of Mounds View, Minnesota 55112-1429. <br />-15- <br />