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2017 Annual Report • Finance Department • St. Anthony Village, Minnesota <br /> <br /> <br /> <br />11 <br /> <br />13.28% <br /> <br />Without any Debt levy relief <br />2 018 TAX LEVY EST ABLISHED IN 2 017 <br />In preparing the 2018 budget, Staff continued its mission to maintain the existing level of City <br />services and programs with the use of financially conservative budgeting. T he 2018 levy <br />increased by $399,226 over last year ’s levy amount. Overall, this represents a 6.19% increase over <br />2017. <br />The City’s General Fund provides the support for City services. The parameters for preparing <br />the General Fund Budget and Levy include: <br />• City revenues budgeted using current run rates for sources that are subject to trends and <br />conservative baseline estimates for re-occurring aids and charges for services <br />• Liquor transfer set to match current operating results <br />• Expenses budgeted at amounts that will maintain present level of City services <br />The 2018 General Fund Levy increased by $402,041 with the relevant factors detailed below: <br />• Absorbed Reduction in Charges for Services of $653,772 substantially represented by the <br />termination of the police services contract with the City of Falcon Heights. <br />• Use of Liquor operating profits was reduced by $50,000 in 2018 to maintain sufficient <br />working capital within the Liquor fund <br />• Personnel costs - 71% of General Fund expenditures, overall decrease $228,877 or 4.51% <br />• Contracted services - 8% of expenditures, overall decrease $33,189 <br />• Insurance costs – 3.5% of expenditures, overall decrease $18,585 <br />• Pass through costs – 5.5% of expenditures, overall increase $11,905 <br />• Remaining budget line items combined - 12% of expenditures, net costs up $12,171 <br />The City again employed property tax relief for 2018 with the continuation of the City’s is the <br />“Peak to Plateau” initiative started in 2014. This program is designed to mitigate the levy impact <br />of the annual street reconstruction program which is expected to continue into the next decade. <br />The scheduled debt levy reduction for 2018 of $458,000 was an increase over 2017 allowance of <br />$371,141 provided $86,859 of additional levy relief on the overall levy requirement. <br />The impact of Property Tax relief reduced the Overall Levy increase required for 2018 and <br />reduced the overall from 13.28% to 6.19%, as demonstrated in the graph below. <br /> <br />Impact of Levy Relief <br /> <br /> 7.53% <br /> <br />With same debt levy relief <br />6.19% <br /> With added debt levy relief