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MEMORANDUM <br />DATE: August 24, 2010 <br />September 14, 2010 <br />TO: City Council <br />FROM: Mike Morrison, City Manager <br />Roger Larson, Finance Director <br />ITEM: GENERAL FUND BUDGET/LEVY <br />At the March I", May 3`d and August 2"d work sessions, the City Council and Staff <br />discussed the preparation of the 2011 General Operating Budget. From those meetings, <br />the consensus from the Council included: <br />1) O% increase in General Operating Levy. <br />2) Appropriation of Revenues to the General Fund are as follows: <br />a. Bell Lane Clean-up $ 22,300 <br />b. Clearwire Lease $ 24,000 <br />c. 2009 Budget/Reserves $ 84,900 <br />$131,200 <br />3) Salary increase & employer health insurance contribution: <br />a. To be determined - pending negotiations between the City <br />Manager and the 3 labor unions). <br />4) All other line items will remain the same as 2010. <br />Based on these parameters, Staff prepared a 2011 General Operating Budget totaling <br />$5,478,000. This represents a $194,600 dollar or a 3.68% increase from 2010. <br />The 2011 General Operating Levy will remain at $2,945,511, which is the same amount <br />levied in 2009 & 2010. This levy is $108,606 less than the Levy Limit of $3,054,117 set <br />by the Minnesota Department of Revenue. <br />A review of the proposed 2011 total levy is as follows: <br />The proposed 2011 Capital Equipment Budget totals $330,400. These purchases are <br />funded by a combination of liquor operations profits, MSA revolving funds, water <br />filtration interest earnings, and the trade/sale of existing equipment and have no impact <br />on the tax levy. <br />Amount <br />Increase <br />General Operating Levy <br />$2,945,511 <br />$ <br />- 0 - <br />Road Improvement Levy <br />$1,299,683 <br />$ <br />53,269 <br />Lease Revenue Bonds <br />$ 406,676 <br />$ <br />3,413 <br />HRA Levy <br />$ 110,500 <br />$ <br />- 0 - <br />"Fax Abatement <br />$ 145,066 <br />$ <br />68,809 <br />PLRA Levy <br />$ 7,500 <br />$ <br />- 0 - <br />Total Levy <br />$4,914,936 <br />$125,491 <br />The proposed 2011 Capital Equipment Budget totals $330,400. These purchases are <br />funded by a combination of liquor operations profits, MSA revolving funds, water <br />filtration interest earnings, and the trade/sale of existing equipment and have no impact <br />on the tax levy. <br />