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City Council Regular Meeting Minutes September 13, 2022 Page 2 2 A. Resolution 22-063 — Setting the Preliminary 2023 Tax Levy and General Operating 3 Budget for the City of St. Anthony Village. 4 5 Mayor Pro Tern Walker opened the public hearing at 7:11 p.m. 6 7 Finance Director Shelly Rueckert reviewed at the August 23, 2022 City Council meeting and 8 City Staff presented the proposed 2023 general fund operating budget and the 2023 overall levy. 9 Staff has affirmed the proposed 2023 overall levy is $8,687,425 which represents an increase of 10 $444,333 or a 5.39% increase compared to the 2022 overall levy. The 2023 Budget Calendar 11 was reviewed in detail Charts showing the Path to the 2023 Tax Levy was provided. Overall 12 Levy by Fund Type includes General/HRA 65%, Debt Service 29%, and Capital & Building 13 Improvements 6%. The 2023 General Fund Revenues come from 64% Tax Levy, Intergov't 14 Revenue 14%, Contracts 12%, Licenses, Permits & Fines 5%, Transfers 3% Miscellaneous 2%. 15 2023 General Fund Expenditures include Police 46%, Fire 18%, Public Works 11%, 16 Administration 10%, All Other 7%, Parks 4% and Finance 4%. 17 18 The standard parameters used for preparing the General Fund Budget and Levy include: 19 • City revenues budgeted at current run rates for sources that are subject to trends and 20 conservative baseline estimates for re -occurring aids and charges for services. 21 • Expenses budgeted at amounts that will maintain present level of City services. 22 • Liquor transfers to the General Fund are based on liquor operating results. 23 24 Each year the General Fund revenue and expenditure budget line items are examined for changes 25 in expected collections/charges, labor adjustments, changes in contract rates, insurance rates, 26 utility costs, usage of various materials or needs, etc. The findings of this examination produce 27 the drivers associated with the proposed 5.39% increase in the Overall Levy. 28 • Personnel costs — 70.85% of expenditures, overall budgeted costs increased by $599,248 29 or 10.69%. 30 • Contracted services — 10.3% of expenditures, overall increase of $18,622. 31 • Other Insurance costs — 4.4% of expenditures, overall costs up by $25,577. 32 • Pass through costs — 2.3% of expenditures, costs up $19,019. 33 • Remaining budget line items — 12.2% of overall expenditures or $1,066,602, costs are up 34 $85,327. Energy costs make up $47,892 of this increase. Anticipated inflationary factors 35 of 5% to 6% have been applied to many of the supplies and services purchases. 36 37 Ms. Rueckert provided detail on specific cost drivers. 38 39 General Fund Revenues 40 • Liquor transfer to the General Fund will increase from $250,000 to $275,000 in 2023. 41 • 2023 State funded Local Government Aid reflects an increase of $12,321, less than 42 originally anticipated. 43 • Police contracted services has increased by $58,027. 44 • Excess Tax Increment collections are projected to increase by $104,780 in 2023, more 45 than originally anticipated.