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CC PACKET 09272016
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CC PACKET 09272016
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1 <br />IV. PUBLIC HEARING 2 <br /> 3 <br />A. Resolution 16-064 a Resolution Setting the Proposed 2017 Tax Levy and General 4 <br />Operating Budget for the City of St. Anthony Village 5 <br /> 6 <br />Mayor Faust opened the public hearing at 7:06 p.m. 7 <br /> 8 <br />Finance Director Shelly Rueckert reported at the August 23, 2016 City Council Meeting, the 9 <br />proposed 2017 General Fund Operating Budget and 2017 Overall levy were presented and the 10 <br />public hearing was held April 26, 2016 for public input on the budget process. City Staff is 11 <br />affirming the proposed 2017 overall levy of $6,450,785, which represents an increase of 12 <br />$399,973 or a 6.61% increase from 2016. Ms. Rueckert summarized the drivers associated with 13 <br />the proposed 5.56% increase in the General Fund Levy include: 14 <br />• Personnel costs – 72% of expenditures, overall costs up $110,148 or 2.22% 15 <br />• Contracted services – 8% of expenditures, overall increase $108,369 16 <br />• Other Insurance costs – 4% of expenditures, overall costs up $12,017 or 4.94% 17 <br />• Pass through costs – 4% of expenditures, costs down $44,114 or 13.63% in turn revenues 18 <br />down equal amount 19 <br />• Remaining budget line items – 12% of expenditures, net costs down $20,136 or 2.16% 20 <br />• Revenues reductions substantially due to tax increment collections and fund transfers 21 <br />combined for $44,780 22 <br /> 23 <br />Ms. Rueckert reviewed the HRA Budget and Levy contains cost drivers similar to the general 24 <br />fund. The proposed Levy increase for the HRA is 12.58 or $17,630 which is the maximum levy 25 <br />allowed. The 2017 Debt Related Levies are proposed to increase by $42,010. The 2017 Capital 26 <br />Improvement Fund Levy is proposed to increase by $152,210. The portion of this increase 27 <br />related to the 2015 phase in plan to rebase liquor transfers is $77,210. The additional $75,000 28 <br />increase is to provide funding needed to replace daily operating equipment as its useful life 29 <br />expires. 30 <br /> 31 <br />Ms. Rueckert reported the issuance of debt/levy impact included Issuance 2016A Street 32 <br />Improvement Bond totaling $1,455,000, Issuance of 2016B Tax Abatement Bond Totaling 33 <br />$1,455,000 and noted the 2016 average homeowner paid $487.30. The impact of the Debt Levy 34 <br />Relief Program amounts to a 0.69% increase and without the Debt Levy Relief Program it would 35 <br />be a 6.68% increase. 36 <br /> 37 <br />Ms. Rueckert summarized the final presentation of the 2017 Budget and Property Tax Levy is 38 <br />scheduled for the December 13, 2016 Council Meeting and at that meeting, a recap of the 2017 39 <br />Budget and the impact of the 2017 Property Tax Levy will be presented. Through 40 <br />Grants/Donations Partnerships, the City has received $19,885,190 since 1999. 41 <br /> 42 <br />There were no questions from the Council. 43 <br /> 44 <br />Mayor Faust closed the public hearing at 7:16 p.m. 45 <br /> 46 <br />2
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