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Examples of budgets that had large percentage changes due to the restructuring included
<br />the Cable Franchise Budget which is up 27.86% (offset by an increased revenue budget)
<br />and the Inspections Budget is up 16.24% is also offset by an increased revenue budget.
<br />In addition, to closely reflect the cost of maintenance and fuel costs for City vehicles, the
<br />Maintenance/Repair budget for Police is up 20.52 %, for Fire the budget is up 10.24% and
<br />Public Works is up 23.23% over the 2009 Budget.
<br />Based on previous spending, decreases occurred in the Assessing Budget (down 7.09 %),
<br />the Legal Budget (down 5.88 %) and the Parks Budget is down 11.94 %. In addition, staff
<br />renegotiated the cleaning services contract which reduced the City Buildings budget by
<br />$5,000.
<br />Calculation of the 2010 Lew Limit:
<br />Based on the 2010 proposed budget a General Fund Levy of $2,980,370 is necessary to
<br />balance the budget. At this time, the necessary information is not available from the
<br />Department of Revenue to calculate the 2010 Levy Limit.
<br />Working with the League, the current estimated Levy Limit is as follows:
<br />1) 2009 Final Levy $2,945,511
<br />2) Times Implicit Price Deflator 1.0083* (League advised of change from 1.0076)
<br />$2,969,959
<br />3) Times Household Growth 1.004202719* (Met Council Statistics 34 new homes)
<br />$2,982,441
<br />4) Times Comm/Industrial Factor (Unknown at this time)
<br />2010 Levy Limit ? ? ? ? ? ? ? ? ? ? ? ??
<br />It seems likely that if the State use 1.0083% as the Implicit Price Deflator, uses the Met
<br />Council's statistics for new homes and St. Anthony receives an adjustment factor for new
<br />commercial/industrial taxable market value, the Levy Limit could be slightly higher than
<br />is necessary to balance the 2010 operating budget.
<br />In addition to the General Fund Levy, the Road Improvement Levy will increase
<br />$186,818 to assist in the payment of bonds for the Chandler Drive/Foss Road Project.
<br />Summary of the 2010 levies:
<br />$4,601,937 $4,824,304 $222,367
<br />*Subject to change
<br />3
<br />2009
<br />2010
<br />Change
<br />➢
<br />General Fund Budget
<br />$2,945,511
<br />$2,980,370*
<br />$ 34,859
<br />➢
<br />Road Improvement Levy
<br />$1,059,596
<br />$1,246,414
<br />$186,818
<br />➢
<br />Lease Revenue Bonds
<br />$ 399,536
<br />$ 403,263
<br />$ 3,727
<br />➢
<br />Housing and Redevelopment (HRA)
<br />$ 110,500
<br />$ 110,500
<br />$ - 0 -
<br />➢
<br />Tax Abatement (Central /Emerald)
<br />$ 79,294
<br />$ 76,257
<br />($ 3,037)
<br />➢
<br />PERA Rate Levy
<br />$ 7.500
<br />$ 7,500
<br />$ - 0 -
<br />$4,601,937 $4,824,304 $222,367
<br />*Subject to change
<br />3
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