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2 H City Council Regular Meeting Minutes September 13, 2016 Page 2 Motion carried 4 -0. IV. PUBLIC HEARING A. Resolution 16 -064 a Resolution Setting the Proposed 2017 Tax Levy and General Operating Budget for the City of St. Anthony Village Mayor Faust opened the public hearing at 7:06 p.m. 10 Finance Director Shelly Rueckert reported at the August 23, 2016 City Council Meeting, the 11 proposed 2017 General Fund Operating Budget and 2017 Overall levy were presented and the 12 public hearing was held April 26, 2016 for public input on the budget process. City Staff is 13 affirming the proposed 2017 overall levy of $6,450,785, which represents an increase of 14 $399,973 or a 6.61% increase from 2016. Ms. Rueckert summarized the drivers associated with 15 the proposed 5.56% increase in the General Fund Levy include: 16 • Personnel costs — 72% of expenditures, overall costs up $110,148 or 2.22% 17 • Contracted services — 8% of expenditures, overall increase $108,369 18 • Other Insurance costs — 4% of expenditures, overall costs up $12,017 or 4.94% 19 • Pass through costs — 4% of expenditures, costs down $44,114 or 13.63% in turn revenues 20 down equal amount 21 • Remaining budget line items —12% of expenditures, net costs down $20,136 or 2.16% 22 • Revenues reductions substantially due to tax increment collections and fund transfers 23 combined for $44,780 24 25 Ms. Rueckert reviewed the HRA Budget and Levy contains cost drivers similar to the general 26 fund. The proposed Levy increase for the HRA is 12.58 or $17,630 which is the maximum levy 27 allowed. The 2017 Debt Related Levies are proposed to increase by $42,010. The 2017 Capital 28 Improvement Fund Levy is proposed to increase by $152,210. The portion of this increase 29 related to the 2015 phase in plan to rebase liquor transfers is $77,210. The additional $75,000 30 increase is to provide funding needed to replace daily operating equipment as its useful life 31 expires. 32 33 Ms. Rueckert reported the issuance of debt/levy impact included Issuance 2016A Street 34 Improvement Bond totaling $1,455,000, Issuance of 2016B Tax Abatement Bond Totaling 35 $1,455,000 and noted the 2016 average homeowner paid $487.30. The impact of the Debt Levy 36 Relief Program amounts to a 0.69% increase and without the Debt Levy Relief Program it would 37 be a 6.68% increase. 38 39 Ms. Rueckert summarized the final presentation of the 2017 Budget and Property Tax Levy is 40 scheduled for the December 13, 2016 Council Meeting and at that meeting, a recap of the 2017 41 Budget and the impact of the 2017 Property Tax Levy will be presented. Through 42 Grants /Donations Partnerships, the City has received $19,885,190 since 1999. 43 44 There were no questions from the Council. 45 46 Mayor Faust closed the public hearing at 7:16 p.m.