HomeMy WebLinkAbout2.A. Budget Overview
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CITY OF SHAKOPEE
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
SUBJ: 2006 Budget Review
DATE: August 12, 2005
Attached is an overview of the General Fund 2006 Budget as it stands at
the moment. Basically, no new budget additions in terms of personnel,
service improvements, etc. are included. This would result in a
decrease in service levels in some areas due to growth. Those items
have been held out for separate consideration and represent a
considerable amount of money.
The basic budget as shown has the estimated tax rate the same as 2005
based on preliminary tax capacity numbers. For residential parcels,
there was no across the board increase in value but changes per parcel
range from no increase to over 20%. The Deputy Assessor estimates the
overall average increase at 6%.
Total taxable tax capacity is up 12.5%, including inflation and new
construction. The tax levy is increased; 1) to make up for the market
value credit loss, 2) the debt service levy is increased to meet
projected debt service needs but the levy for the new public works
building in not included nor is a levy for the 2005 construction
projects, 3) to provide additional funding up to the same estimated tax
rate as pay 05. The net tax levy to spread is currently a 12.8%
increase over the 2004/05 levy.
Revenues from development activity are at actual estimated levels as
opposed to the conservative amounts used in recent years.
Expenditures are up 12.5% including funding for the 800 mhz radios
which is currently in the Unallocated Division. As shown, there is
$688,000 more in expenditures than revenues. A 3% under-spend factor
amounts to $480,000.
Finance is still going over and adjusting various parts of the budget
so numbers are subject to change.
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City of ShakooeE 8/12/2005 --- ~.
Pay 06 tax levv -
04105 05106
General Levy 8.910.000 9.370.000 460.000 5.2%
Debt Service
1995A ImD 61.556 61.556 61.569 170.319
1996A ImD 63.495 cnx 62.726 91.256
1997B ImD 29.980 29.980 29.757 59.757
1998B ImD 62.306 cnx 62.519 62.519
2000A ImD 47.342 47.342 55.298 55.298
2002A ImD 97.479 97.479 95.891 95.891
2004C ImD 145.000 147.185 147.185
2004D PW buildina 480000 469.967
20048 Fire Referendum 254.679 250.781
Total Debt Service 381 357 682 225 300.868 78.9%
I _0.-
COPS 2003 matchina levv 95.669 81.000
PERA increase levv 12.500 13.000
Certainteed levv for tax abatement 29.000 29.000
Rvan Abatement I 7.548
Market Value cut .--.~-- 560.263
.. 13.9%
Total Levv 9.428.526 .. 10.743.036 1.314.510
Fiscal DisD Dist 1694178\ (193.228)
Net Levv to soread 8.734.348 9.855.630 1.121.282 12.8%
Market Value cut 0 .- (560.263)
Allowance for Uncoil. 1188571\ 1214861\
BudQet Amount R "4<; 77R o rH~f1 <;f1A 534,728
General Fund (net) 8,104.421 (net) 8.338.281 233.860 2.9%
EDA - city levv 60 000 60.000
Debt Service 381 357 RR? 22" ~nn R6R
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