2012 Budget Book - Laserfiche WebLink

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increase in the general operating levy. In 2012, the proposed General Operating Budget totals $5,498,650 with a preliminary levy of $3,045,166. At the City Council Meeting, on August 9, 2011, Staff presented the proposed 2012 General Operating Budget and Property Tax Levy to the City Council. Council adopted the proposed 2011 Operating Budget and Preliminary Tax Levy at its September 13, 2011, regular meeting and announced December 13, 2011, as the date for the presentation/discussion and approval of the 2012 Operating Budget and Tax Levy. On September 14, 2011, City Staff certified a proposed budget and tax levy to Hennepin and Ramsey Counties. Once the proposed levy has been certified, the levy cannot be increased, but it can be reduced during the final certification process in December. The City's five-year capital equipment plan and corresponding upgrades to city buildings are prepared in a similar manner, however are expanded to include long-term goals, needs and projections. In late October, staff calculates the proposed tax rate and tax capacity numbers to determine the impact on residential and commercial properties. In Mid -November, the impact of the proposed budget and tax levy is published and "Proposed Property Tax Statements" are mailed to all property owners. Staff presented the 2012 General Operating Budget and Tax Levy at the December 13, 2011, City Council meeting. After gathering, discussing and reviewing the necessary information to determine the 2012 Tax Levy, the City Council adopted the 2012 General Operating Budget and Property Tax Levy. The City's final property tax levy was certified to Hennepin and Ramsey Counties who collect the property taxes on behalf of the City, County, School District voter -approved levies and other Taxing Districts. During the fiscal year, individual line items may be overspent with the understanding that the total operating budget is not overspent. City Staff may request recommended changes in their activity budget to the City Manager who then submits the request to the City Council which in turn can approve or disapprove the amendment. If Council approves an activity to be overspent, the property tax levy may not be amended to fund the appropriation. Respectfully submitted, Mchefe Ruecken Michele Rueckert Finance Director 7