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CITY OF ST. ANTHONY VILLAGE
<br />2024 BUDGET
<br />OVERALL LEVY
<br />*2024 OVERALL PRELIMINARY LEVY
<br />2023 $ Change 2024 % Change
<br />General Fund 5,479,630$ 458,708$ 5,938,338$ 8.37%
<br />HRA Fund 209,414 - 209,414 0.00%
<br />CIP Fund 338,200 30,000 368,200 8.87%
<br />Debt Service Funds 2,487,181 (350,447) 2,136,734 -14.09%
<br />Infrastructure Fund 70,000 355,447 425,447 507.78%
<br />Building Improvement Fund 93,000 5,000 98,000 5.38%
<br />Park Improvement Fund 10,000 5,000 15,000 50.00%
<br />Total 8,687,425$ 503,708$ 9,191,133$ 5.80%
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<br />*Factors included in Preliminary Levy estimate:
<br />2) Health Insurance premiums increased 4.2 % - estimated cost with current elections $9,626
<br />4) Professional Services, Contracted IT services costs and other contracted services are up $78,989 due to activity levels and anticipated rate increases due to inflation.
<br />5) Remaining budget items netted to an increase of $30,552
<br />6) Costs for Police recommendations and overall wage adjustnemts approved at prior worksession now included in line item budget. Net cost of items lower than originally projected.
<br />7) Reflects an $64,472 increase in Local Government Aid.
<br />8) Base increase of 2024 charges for police services adds revenue of $51,618.
<br />9) Includes $77,000 decrease in excess TIF collections.
<br />10) Liquor transfer to General Fund remains at $275,000.
<br />11) HRA Levy remains at same level as 2023.
<br />12) Debt service levy at a zero levy increase.
<br />13) CIP, Building, Infrastructure, Park improvement annual levy increases are consistent with Long Term Capital plans.
<br />Please note that for the every $86,874 in General Fund incremental spending, equals a 1% overall levy increase.
<br />Year Levy % increase COLA
<br />2024 5.80%3.50%Base Levy before options
<br />2023 5.39%3.00%
<br />2022 4.80%3.00%
<br />2021 3.37%2.00%
<br />2020 4.08%3.25%
<br />HRA,
<br />Capital and
<br />Debt Levy
<br />Impacts
<br />Past five year levy increases
<br />General
<br />Fund Cost
<br />Drivers
<br />1) Estimated Unions COLA settlements at 3.5% , plus step adjustments, cost impact $154,121
<br />3) Workman's Compensation, Liability, Property and Casualty premiums projected to increase by $88,431, substantially due to statewide police PTSD claims impacting police workers compensation rates. City experience rating
<br />impacted by a PD PTSD Claim approved. Lastly, liability insurance cost per officer increasing.
<br />General
<br />Fund
<br />Revenue
<br />Impacts
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