The URL can be used to link to this page

Home My WebLink About4.A. Budget Status 'il/, CITY OF SHAKOPEE Memorandum TO: Mayor and Council Mark McNeill, City Administrator FROM: Gregg Voxland, Finance Director SUBJ: Budget Status - This is an informational update - no action needed. DATE: November 21/ 2005 Attached is a print out showing the current status of the General Fund Budget for 20"06. The items previously discussed on the options list are included with the expected tax rate increase from 31.115 to 32.117. Not included in the budget but expected to be funded from fund balance or other funding sources if Council approves the expenditure are the following items from the previous list. Budget amendments will be requested as necessary. City Hall Security system 30,000 800 MZH radios 456,000 Park/easement boundary marking 13,175 Community center on line registration 16,600 Park Construction Manager 75,000 City Hall carpet 85,000 Youth building carpet 9,500 Public Works (Engineering) carpet 17,000 Proposed tax notices have been mailed out and the public hearing on the tax levy/budget is set for Monday 12/5 at 7:00 PM. Notice of the hearing will be in the Shakopee Valley News on 12/1/05. R5509BUD LOGIS001 CITY OF SHAKO PEE 10/27/200813:36:46 Fiscal Period: 9 / 05 Budget Report page- 1 Level Of Rollup 5 2002 2003 2004 9/30/2005 2005 2006 2006 2006 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 01000 GENERAL FUND 4000 REVENUES AND EXPENDITURES 4001 REVENUES 4005 TAXES 6,418,795- 6,972,300- 7,326,802- 4,616,574- 9,014,160- 9,448,090- 9,758,750- 9,758,750- 4100 SPECIAL ASSESSMENT 1,641- 15,570- 6,786 1,103- 4200 LICENSES AND PERMITS 2,313,544- 3,227,264- 3,197,690- 2,666,143- 1,609,500- 2,813,000- 2,813,000- 2,813,000- 4400 INTERGOVERNMENTAL 520,322- 535,329- 364,979- 503,670- 292,930- 285,000- 285,000- 285,000- 4500 CHARGES FOR SERVICE 1,243,535- 1,491,614- 1,574,649- 872,649- 1,119,200- 1,087,660- 1,087,660- 1,087,660- 4820 FINES & FORFEITS 253,346- 239,588- 255,763- 181,236- 260,000- 267,000- 267,000- 267,000- 4630 MISCELLANEOUS 304,938- 271,653- 174,066- 20,164 250,000- 201,000- 201,000- 201,000- 4001 REVENUES 11,056,123- 12,753,317- 12,887,186- 8,843,190- 12,745,810- 14,101,750- 14,412,410- 14,412,410- 6000 EXPENDITURES 6001 WAGES & BENEFITS 5,938,104 6,177,318 7,056,538 5,303,798 8,156,460 8,728,530 9,143,540 9,143,540 6200 SUPPLIES AND SERVICES 3,504,093 3,456,360 4,063,966 3,187,939 4,622,380 5,207,490 5,349,640 5,349,640 6600 MISCELLANEOUS 114,869 123,217 66,086 99,897 231,300 230,420 230,420 230,420 6700 CAPITAL OUTLAY 64,940 76,370 12,930 123,797 221,000 50,000 50,000 50,000 -~- ---~- 6000 EXPENDITURES 9,622,006 9,833,284 _ 11,219,519 6,715,432 13,231,140 14,216,440 14,773,600 14,773,600 6005 TOTAL TRANSFERS IN 8010 OPERATING TRANSFERS IN 1,057,147- 1,122,355- 1,342,560- 814,000- 1,225,000- 1,286,250- 1 ,266,250- 1,286,250- 6005 TOTAL TRANSFERS IN 1,057,147- 1,122,355- 1,342,560- 614,000- 1,225,000- 1,266,250- 1,286,250- 1,286,250- 8050 TOTAL TRANSFERS OUT 8052 TRANSFERS OUT 2,101,744 1,931,650 1,408,191 1,074,550 1,103,780 1,128,550 1,318,110 1,318,110 8050 TOTAL TRANSFERS OUT 2,101,744 1,931,650 1,408,191 1,074,550 1,103,780 1,128,550 1,318,110 1,318,110 4000 REVENUES AND EXPENDITURES 389,520- 2,110,738- 1,602,035- 132,792 364,110 43,010- 393,050 393,050 01000 GENERAL FUND 389,520- 2,110,738- 1,602,035- 132,792 364,110 43,010- 393,050 393,050 a roperty The Shakopee City Council will hold a public hearing on its budget and on the amount of the property taxes it is proposing to collect to pay for the costs of services the City will provide in 2006. SPENDING: The total budget amounts below compare the City's 2005 total actual budget with the amount the City proposes to spend in 2006. 2005 Total Proposed Change from Actual Budget 2006 Budget 2005 - 2006 ., $ 27,186,680 $ 29,645,775 9.045% TAXES: The property tax amounts below compare that portion of the current budget levied in property taxes in the City of Shakopee for 2005 with the property taxes the City proposes to collect in 2006. 2005 Proposed 2006 Change from Property Taxes Property Taxes 2005 - 2006 $ 9,428,526 $ 11,060,036 17.304% LOCAL TAX RATE COMPARISON: The following compares the City's current local tax rate, the City's tax rate for 2006 if no tax levy increase is adopted, and the City's proposed tax rate for 2006. 2005 2006 Tax Rate if 2006 Proposed Tax Rate NO Levy Increase Tax Rate 31.115% 26.966% 32.117% Attend the Public Hearing All Shakopee residents are invited to attend the public hearing of the City Council to express their opinions on the budget and on the proposed amount of 2006 property taxes. The hearing will be held on: Monday, December 5 at 7:00 PM City Council Chambers Shakopee City Hall 129 Holmes St S Shakopee, MN 55379 If the disussion of the budget cannot be completed, a time and place for continuing the discussion will be announced at the hearing. You are also invited to send your written comments to: Shakopee City Council Shakopee City Hall 129 Holmes St S Shakopee, MN 55379