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2018 Annual Report • Finance Department • St. Anthony Village, Minnesota <br /> <br /> <br /> <br />14 <br /> <br />2 019 TAX LEVY EST ABLISHED IN 2 018 <br />In preparing the 2019 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 2019 levy <br />increased by $461,442 over last year’s levy amount. Overall, this represents a 6.74% increase over <br />2018. <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 2019 General Fund Levy increased by $348,579 with the relevant factors detailed below: <br /> Personnel costs - 69% of General Fund expenditures, overall increase $161,503 or 3.34% <br /> Contracted services - 8% of expenditures, overall increase $59,635 <br /> Insurance costs – 4% of expenditures, overall increase $55,601 <br /> Pass through costs – 4% of expenditures, overall increase $30,599 <br /> Added 1% in funding for initiatives below at $10,000 each, for a total increase of <br />$40,000 <br />o Collaborative Reform <br />o Equity <br />o Property Resource <br />o Sustainability <br /> Remaining budget line items combined - 14% of <br />expenditures, net costs up $41,347 <br />The City again employed property tax relief for 2019 with the <br />continuation of the City’s is the “Peak to Plateau” initiative <br />started in 2014. This program is designed to mitigate the levy <br />impact of the annual street reconstruction program which is <br />expected to continue into the next decade. The scheduled debt <br />levy reduction for 2019 was $510,067. <br />The impact of Property Tax relief reduced the Overall Levy <br />increase required for 2019 and reduced the overall from 13.12% to <br />6.74%, as demonstrated in the illustration to the right. <br /> <br />13.12% <br /> <br />Without any Debt levy relief <br />6.74% <br /> <br />With Debt levy relief <br />Impact of Levy Relief