2010 budget book - Laserfiche WebLink

Home Browse Search

On September 15, 2009, the City certified a proposed operating budget and property 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 longer-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 property tax levy is published and "Proposed Property Tax Statements" are mailed to all property owners. Staff presented the proposed 2010 operating budget and property tax levy at the December 8, 2009, regular Council meeting. After gathering, discussing and reviewing the necessary information to determine the 2010 tax levy, the City Council adopted the 2010 operating budget and property tax levy. The City's final property tax levy was certified to the 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, lXoger Larson Roger Larson Finance Director