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Home My WebLink About7. Adoption of the 2007/2008 Tax Levy and Budget-Res. No. 6699 & 6700 City of Shakopee Memorandum TO: Mayor and CounCi~ Administrator Mark McNeill, Y FROM: Gregg Voxland, Finance Director RE: Adoption of the 2007/08 Tax Levy and Budget Resolutions DATE: November 16, 2007 Introduction and Background y p able 2007 Resolution Number 6699 adopts the final tax lev for ay taxes. The total gross tax capacity tax levy for 2007/08 is $1,521,255 (12.2%) more than for 2006/07. The levy based on market value for the Fdue toahavinglsbffacient reduced $50,000 from the scheduled levy funds on hand. Resolution Number 6700 adopts the 2008 Budget. The budget must be adopted after the tax levy. Council will be discussing the Landscape Designer position after adopting the 2008woudaeneedltoabe preparednind2008btomaacommodate budget amendment the change. This is an informational item - it does not affect the adoption of the budget. The capital equipment list contains a replacement tanker for the Fire Department in 2008 in the amount of $450,000. The department has determined that the tanker does not get much use anymore but is still needed. Amore useful item would be a tankerfpumper at an estimated COSt Of $550,000. Council will need to make the decision on what type of equipment to purchase when that time comes. Action • Open public hearing. Accept public comment. • Offer Resolution Number 6699, A Resolution Setting the 2007 Tax Levy, Collectable In 2008, and move its adoption. • Offer Resolution Number 6700 A Resolution Adopting the 2008 Budget, and move its adoption. • Close public hearing. Gregg Voxland Finance Director ri:\budget08\budres08 City of Shakopee, Minnesota Debt Capital Total 2008 Annual Combined Budget Summary gpecial Service Projects Governmental General Revenue Funds Funds Fund Funds Funds Revenues 80,000 $ 1,101,007 $ 1,260,000 $ 15,420,417 $12,879,410 $ 1,565,000 2,760,000 4,327,000 Taxes 2,000 345,000 1,474,000 Special Assessments 820,000 309,000 Licenses And Permits 5,000 Intergovernmental 5,000 537,000 3;065,380 Federal 339,000 2,189,380 State 1,867,770 Local 607,650 1,260,120 430,000 Charges For Service 430,000 676,900 748,150 Fines And Forfeits 55,000 16,250 225,000 769,000 Miscellaneous Revenue 350,000 53,000 141,000 28,106,717 Interest Earnings 3,907,750 2,807,007 5,803,900 15,588,060 TOTAL Revenue 3,955,520 Expenditures 3,517,150 438,370 8,588,110 General Government 8,598,110 9,009,330 Public Safety 2,078,420 4,160,000 2,770,910 331,000 4,531,130 Public Works 1 882 280 2,217,840 4,150,384 Recreation 4,150,384 181,000 Debt Service 181,000 30,425,474 Miscellaneous 4,734,630 4,150,384 4,491,000 Total Expenditures 17,049,460 Excess (Deficiency) of 82B ggp) (1,343,377) 1,312,900 (2,318,757) Revenues over Expenditures (1,461,400) Other Financing Sources And (Uses) (462,000) (462,000) Interfund Loan 1,171,010 467,649 50,000 3,428,659 Interfund Transfers In 1,740,000 (1,207,910) Interfund Transfers (Out) (1,171,010) (36,900) Excess (Deficiency) of Revenues and Other Sources 882 410 $ 307,230 $ (875,728) $ 900,900 $ (560,008) Over Expenditures and Other Uses $ ( ) Property Tax Levy Required to 80,000 $ 1,101,007 $ 14,222,007 Support This Budget $ 13,041,000 $ 12i,. _.,0714:10:07 CITY OF S.. .JPEE R5509BUD L~.~iS003 Page - 1 Budget Report Fiscal Period: 11 / 7 Level Of Rollup 7 2008 2008 2008 2004 2005 2006 11/30/2007 2007 Final Actual Actual Actual YTD Final Requested Approved Bud et Budget Budget _ Budget Object Code /Description Amount Amount Amount Actual 9 01000 GENERAL FUND 11 MAYOR & COUNCIL 79,234 70,251 85,176 153,036 215,260 177,190 177,190 177'190 536,518 379,656 424,010 404,452 499,200 546,670 516,670 516,670 12 CITY ADMINISTRATOR 13 CITY CLERK 266,616 323,594 320,670 271,072 327,240 364,540 364,540 364,5 15 FINANCE 634,221 662,711 677,882 636,546 757,360 770,090 770,090 770,090 16 LEGAL COUNSEL 298,616 285,754 448,961 467,391 466,300 533,500 533,500 533,500 17 COMMUNITY DEVELOPMENT 402,102 398,185 436,865 396,993 525,650 546,670 546,670 546,670 18 GENERAL GOVERNMENT BUILDINGS 549,968 532,314 303,298 271,770 260,600 266,330 266,330 296,470 20 INFORMATION TECHNOLOGY 187,193 207,854 296,603 269,560 287,820 312,020 312,020 312,020 31 POLICE DEPARTMENT 3,662,219 4,107,360 4,796,124 4,737,154 5,719,500 6,088,840 6,088,840 5,851,840 32 FIRE 1,078,778 1,194,610 1,481,327 1,675,947 2,101,230 2,220,930 2,128,730 1,925,730 33 INSPECTION-BLDG-PLMBG-HTG 740,747 855,864 829,526 853,978 949,870 820,540 820,540 820,540 41 ENGINEERING 685,660 773,574 867,415 696,306 968,340 924,110 786,220 786,220 42 STREET MAINTENANCE 992,742 1,152,924 1,190,775 1,488,237 1,713,120 1,839,450 1,890,310 1,890,310 44 SHOP 291,826 402,364 364,507 160,357 65,250 94,380 94,380 94,380 46 PARK MAINTENANCE 793,082 912,955 1,076,929 1,019,678 1,346,180 1,423,990 1,535,990 1,557,550 65 LIBRARY/CONGREGATE DINING 260,182 244,461 309,460 297,080 297,080 297,060 111,124 121, 690 127, 660 127,660 127, 660 66 NATURAL RESOURCES 91 UNALLOCATED 0 64,940 125,000 156,000 156,000 181,0 01000 GENERAL FUND 11,219,519 12,259,971 13,862,251 13,923,000 16,799,070 17,509,990 17,412,760 17,049,460 CITY OF SHAKOPEE 2008 BUDGET SPECIAL REVENUE FUNDS BUDGET SUMMARY TRANSIT TELECOMM EDA RECREATION TOTAL Revenue $ _ $ _ $ 80,000 $ - $ 80,000 Taxes 309,000 309,000 Licenses & Permits 2 189 380 - 2,189,380 Intergovernmental 197,040 26,500 1,036,580 1,260,120 Charges for Service _ 16,250 16,250 Miscellaneous Interest 5,000 15,000 13,000 20,000 53,00 Total Revenue 2,391,420 324,000 119,500 1,072,830 3,907,750 Expenditures 314,600 123,770 438,370 General Government 2,07g,420 2,078,420 Public Works 2,217,840 2,217,840 Recreation Total Expenditures 2,078,420 314,600 123,770 2,217,840 4,734, Excess (Deficiency) of 313,000 9,400 (4,270) (1,145,010) (826,880) Revenues over Expenditures Transferln 26,000 1,145,010 1,171,010 (11,200) (6,500) (19,200) (36,900) Transfer Out Excess (Deficiency) of Reveues and Transfers 301,800 2,900 2,530 - 307,230 Over Expenditures and Transfers Fund Balance January 1 485,041 541,966 234,917 409,692 1,171,010 Fund Balance December 31 $ 786,841 $ 544,866 $ 237,447 $ 409,692 $ 1,978,846 RESOLUTION NO. 6699 A RESOLUTION SETTING 2007 TAX LEVY, COLLECTIBLE IN 2008 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, COUNTY OF SCOTT, MINNESOTA, that the following sums of money be levied as the tax levy in accordance with existing law for the current year, collectible in 2007, upon the taxable property in the City of Shakopee, for the following purposes: General Levy $13,940,255 Plus Economic Development Authority 60,000 Debt Service - Fire Referendum 201,752 (Market Value) 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 Eighteenth day of December, 2007. Mayor of the City of Shakopee ATTEST: City Clerk RESOLUTION NO. 6700 A RESOLUTION ADOPTING THE 2008 BUDGET BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA that the 2008 Budget with the estimated revenues and appropriations for the General Fund and the Special Revenue Funds as shown below is hereby adopted. Estimated Revenue Expenditures & Other Sources & Other Uses General Fund Mayor and Council $ 177,190 Administration 516,670 City Clerk 364,540 Finance 770,090 Legal 533,500 Planning 546 670 Government Buildings 296,470 Information Technology 312,020 Police 5,851,840 Fire 1,925,730 Inspection 820,540 Engineering 786,220 Street 1,890,310 Shop 94,380 Park 1,557,550 Library/Congregate Dining 297,080 Natural Resources 127,660 Unallocated 181,000 Transfers 1,171,010 Total General Fund $17,328,060 18,220,470 Transit Fund 2,391,420 2,078,420 Telecommunications Fund 324,000 314,600 Recreation Fund 2,217,840 2,217,840 Adopted in session of the City Council of the City of Shakopee, Minnesota held this Eighteenth day of December, 2007. Mayor of the City of Shakopee ATTEST: City Clerk 7 P1~ES £ hZA~~vN ~Y SHAKOPLE General Fund Budget Notes Total Revenues up 1% Total Expenditures up 3% Funds on hand ($892,000) Add 0 2 Police positions o FT Fire Chief - Less o .4 Administration 0 2 Engineering o .5 Recreation ~g Y 2007 2008 Revenue Budget Estimate Taxes $11, 562, 500 $12, 981,410 Licenses and Permits 1,504,700 820,000 Intergovernmental 261,960 344,000 Charges for Service 1,558,800 607,650 Fines and Forfeits 280,000 430,000 Miscellaneous 283,500 405,000 Total Revenue 15,451,460 15,588,060 Expenditures General Government 3,380,340 3,517,150 Public Safety 8,531,480 8,598,110 Public Works 2,739,450 2,770,910 Culture/Recreation 1,743,550 1,982,290 Unallocated 150,000 181,000 Total Expenditures 16,544,820 17,049,460 Excess (deficiency) Revenues over Expenditures (1,093,360) (1,461,400) Other Sources 1,609,730 1,740,000 Other Uses (1,178,770) (1,171,010) Excess (deficiency) Revenues & Other Sources Over Expenditures & Other Uses $ (662,400) 892 410 ~ L _ r, _ x= 60 55 50 45 40 35 30 25 20 15 10 2003 2004 2005 2006 2007 2008 Year ~ = _ ~ , : ~ 2007 Tax Levy 2008 Tax Levy % Change General Levy $11,591,697 $13,042,083 16.6% EDA -General 60,000 60,000 (0.0%) Debt Service 827,303 898,172 8.7% Fire Referendum 246,449 201,752 (1.8)% Total $12,725,449 $14,202,007 11.6%