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6 II. Core Accounting Functions <br />2013 Annual Report · Public Works Department · St. Anthony Village, Minnesota <br />2014 TAX LEVY ESTABLISHED IN 2013 <br />In preparing the 2014 budget, Staff continued its mission to maintain the existing level of City services and <br />programs with the use of financially conservative budgeting. Overall, the proposed 2014 General Operating Budget <br />represents an increase of $378,998 over last year’s budgeted amount. This increase is attributable to the City’s <br />scheduled receipt of $442,967 in Local Government Aid (LGA) in 2014 and offset by other net budget adjustments <br />of ($63,969). With the Council’s guidance, LGA was allocated in the following manner: <br />• 37% Unmet capital needs and reducing cost allocations to utility funds <br />• 25.5% Property Tax Relief, negating the impact certain annual cost factors <br />• 24.5% Addressing severance obligations, risk management <br />• 10% Property Tax Relief, supplanting decreases in revenues and other aids <br />• 3% Slowing growth of Road Levy <br />The LGA Distribution above resulted in a 0% increase in the General Fund Levy for 2014 and reduced the overall <br />Levy increase from 6.9% to 3.8% <br />LGA IMPACT ON OVERALL LEVY <br />6.9% <br />5.8% <br />5.0% <br />4.2%3.9%3.8% <br />Property <br />Tax Relief, <br />supplanting <br />decreases in <br />revenues and <br />other aids <br />Slowing <br />growth of <br />Road Levy <br />Addressing <br />severance <br />obligations, <br />risk <br />management <br />Property Tax <br />Relief, negating <br />the impact <br />certain annual <br />cost factors <br />Unmet capital <br />needs and <br />reducing cost <br />allocations to <br />utility funds <br />Reduction from <br /> Previous Year 37%25.5%24.5%10%3%