HomeMy WebLinkAbout3.A. 2006 Proposed Tax Levy and Budget-Res. No. 6298 and Res. No. 6299
.3.A..
City of Shakopee
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: 2006 Proposed Tax Levy and Budget Resolution
DATE: September 3, 2005
Introduction
Attached is Resolution Number 6298, which sets the proposed
maximum 2005/06 tax levy.
Time frames
The existing law requires that Shakopee certify a proposed
budget, budget hearing date and proposed maximum tax levy to the
county by September 15. The City has to certify the final levy to
the county by December 23, 2005.
Tax Levy
The proposed maximum tax levy for 2005/06 is a levy of
$11,310,817 including a levy for debt service of $933,006. The
levy last year was $9,683,206 including $636/036 for debt
service. The increase in the gross levy is $1,627,611 or 16.8%.
Additionally, the part of the EDA levy for economic development
purposes in the amount of $60,000 is included in the levy (and
levy limit as per the State Department of Revenue) .
The decision to reduce the levy can be made at a later date
because it is the maximum proposed levy being adopted now.
The levy for the fire station bonds is already set by previous
action and is $250,781 (included above) . This levy is on the
market value of real estate and not the tax capacity value.
Governmental Funds Budget
The Council is required to certify a proposed budget to the
County Auditor by September 15th. Council may change the amount
up or down for the final budget. The resolution includes the
Governmental Funds Budget proposed expenditures in the amount of
$35,935,035. The budget is not fixed. The comparable number last
year was $31,709,180.
Public Hearing Date
The date for the official UTruth in Taxation" pubic hearing on
the tax levy and budget that is reserved for cities is December 5
with the continuation date of December 12th if needed.
Alternatives
1. Adopt resolution as drafted.
2. Increase or decrease amounts for tax levy or budget in the
resolution.
Action
Move to set the public hearing date for the 2006 budget on
December 5 with continuation date of December 12th.
Offer Resolution Number 6298, A Resolution Setting Proposed
Maximum 2005 Tax Levy, Collectable In 2006, and move its
adoption.
~ Voxland
Finance Director
h:\budget06\budres06
,
RESOLUTION NO. 6298
A RESOLUTION SETTING PROPOSED MAXIMUM 2005 TAX LEVY,
COLLECTIBLE IN 2006
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE,
COUNTY OF SCOTT, MINNESOTA, that the following amounts be levied
as the proposed maximum tax levy in accordance with existing law
for the current year upon the taxable property in the City of
Shakopee;
General Levy $11,000,036
Plus Economic Development Authority 60,000
Debt Service - Fire Referendum 250,781
(Market Value)
BE IT FURTHER RESOLVED, that the proposed expenditures for the
Governmental Funds Budget for 2006 is $35,935,035.
BE IT FURTHER RESOLVED, that the City Clerk is hereby instructed
to transrni t a certified copy to this resolution to the County
Auditor of Scott County, Minnesota.
Adopted in session of the City Council of the City of
Shakopee, Minnesota, held this twelfth day of September, 2005.
Mayor of the City of Shakopee
ATTEST:
City Clerk
3.H,
City of Shakopee
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: Canceling Debt Service Levy for 2005/06
DATE: September 14.,~ 2005
Introduction
Resolution No. 6299 cancels the debt service levy for the Public
Works building bond issue.
Background
Attached is the resolution canceling the debt service levy for
taxes payable in 2006 for the public works building. The
Building Fund will transfer money to those funds in 2005.
Requested Action
Offer Resolution No. 6299 A Resolution Canceling Debt Service
Levies For 2005/06, and move its adoption.
)fJ
Gregg Voxland
Finance Director
h:\budget06\budres06
RESOLUTION NO. 6299
A RESOLUTION CANCELING DEBT SERVICE LEVY FOR 2005/06
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE,
COUNTY OF SCOTT, MINNESOTA, that the following debt service
levies are canceled:
2004D Capital Improvement Bonds $147,185
BE IT FURTHER RESOLVED, that the following irrevocable transfers
be made from the Building Fund to the respective debt service
fund in 2005:
2004D Capital Improvement Bonds $147,185
BE IT FURTHER RESOLVED, that the City Clerk is hereby
instructed to transmit a certified copy to this resolution to the
County Auditor of Scott County, Minnesota.
Adopted in session of the City Council of the City of
Shakopee, Minnesota, held this twelfth day of September, 2005.
Mayor of the City of Shakopee
ATTEST:
City Clerk