2021 Budget Book - Laserfiche WebLink

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 The Saint Anthony Fire Relief Association transferred the management of their pension fund to the State beginning in 2021. Therefore, the State Aid will be deposited directly in the plan, eliminating the pass‐through cost in 2021, reducing costs by $52,083.  Remaining budget line items – 11.6% of expenditures or $883,454 cost $88,259 or 9.1%.  Includes costs for: street sealcoating and striping, repairs and maintenance, supplies, utilities, fuels, training, printing, and deductibles.  This decrease is partially due to $35,000 in annual street sealcoating expense that will be an expenditure of the Infrastructure Fund beginning in 2021.  Additionally, lower fuel costs, less grant related expenditures and miscellaneous reductions in activities make up the balance of the decrease.  Transfer of Liquor operating profits remains at $250,000 for 2021.  Increase in Local Government Aid of $30,833 for 2021.  Decrease of $63,886 in the calculated Excess Tax Increment amount for 2021.  Increase in 2021 charges for Police contracted services of $26,147.  General Fund investment earnings are expected to decline by $10,500 in 2021. Lastly, the estimated 2020 General Fund surplus is $405,908. This surplus is primarily due to the receipt of CARES funding. The current expectation is that COVID‐19 expenditures will be continued in 2021. The level spending and the pandemics impact on revenues is unknown, and was not included in the 2021 budget. Therefore, the surplus is the resource for unbudgeted COVID‐19 financial impacts versus the 2021 levy. The HRA Budget and Levy cost driver is substantially personnel costs and professional costs. Therefore, the proposed Levy increase for the HRA is 6.75% or $12,500. Infrastructure Improvements / Debt Levies During the past several budget cycles, there has been significant reconstruction of City streets, sidewalks, storm water systems, Silver Lake Village, City buildings and park infrastructures. The 2020 infrastructure projects included:  Silver Lake Terrace.  Croft Drive, from 31st Avenue to 32nd Avenue. The 2021 planned infrastructure projects included: Reconstruction  Skycroft Drive, from 32nd Avenue to 33rd Avenue.  Croft Drive, from 32nd Avenue to 33rd Avenue. Mill and Overlay  Portions of Silver Lane, Croft Drive, 29th Avenue and St. Anthony Boulevard. Funding for the 2021 projects will come from bonds and assessments. The bonds issues have 15‐year payment terms. The Debt Levy is the funding source for the annual payment of the bond principal and 4