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City Council Regular Meeting Minutes December 13, 2022 Page 2 A. Resolution 22-083 — Setting the Final 2023 Tax Levy and General Operating Budget for the City of St. Anthony Village. Mayor Stille opened the public hearing at 7:03 p.m. 7 Finance Director Shelly Rueckert reviewed at the September 13, 2022 City Council meeting City 8 Staff presented the proposed 2023 general fund operating budget and 2023 overall levy. The 9 2023 Budget Calendar was reviewed in detail. Staff has affirmed the proposed 2023 overall levy 10 is $8,687,425 which represents an increase of $444,333 or a 5.39% increase compared to the 11 2022 overall levy. The standard parameters used for preparing the General Fund Budget and 12 Levy include City revenues budgeted at current run rates for sources that are subject to trends 13 and conservative baseline estimates for re -occurring aids and charges for services; expenses 14 budgeted at amounts that will maintain present level of City services; and liquor transfers to the 15 General Fund are based on liquor operating results. The charts of the Path to the 2023 Tax Levy 16 were shown. The overall Levy by Fund Type is General/HRA 65%, Debt Service 29% and 17 Capital & Building Improvements 6%. The General Fund Revenues and General Fund 18 Expenditures charts were shown. 19 20 Ms. Rueckert reviewed the 2023 Budget Cost Drivers which consisted of Personnel costs: 70.9% 21 of expenditures, overall costs up $615,423 or 10.98%; Contracted services: 10.3% of 22 expenditures, overall costs up $15,913; Other Insurance Costs — 4.3% of expenditures, overall 23 costs up by $25,077; Pass through costs: 2.3% of expenditures, costs up $18,572; and 24 Remaining budget line items combined total $1,067,109 or 12.2% of expenditures, costs up 25 $85,835. 26 27 The 2023 Property Taxes were reviewed. A median single family home value of $396,000, 8.2% 28 increase over 2022. A chart showing the 2023 Property Tax Distribution and also a chart of the 29 Distribution of City Taxes were displayed. 30 31 Ms. Rueckert reviewed the Issuance of 2022A G.O. Bonds to cover Street Reconstruction and 32 Utilities replacement; mills and overlays and alleys. The Impact of Debt Levy Relief was 33 reviewed. A summary of the 2023 budget was provided. 34 35 Councilmember Webster thanked Ms. Rueckert for listening for feedback from residents and for 36 taking extra steps to make the presentation very clear. 37 38 Councilmember Jenson complimented Ms. Rueckert for the presentation with the detail and 39 transparency provided. He knows it takes a lot of time to prepare. He thanked City Staff for their 40 work. 41 42 Mayor Stille asked to review the Distribution of City Taxes slide. He stated this is the City taxes. 43 An average home in St. Anthony will pay $2,430.96 in taxes. 44 45 Mayor Stille closed the public hearing at 7:33 p.m. 46