HomeMy WebLinkAbout4. 2010/2011 Tax Levy and Budget Adoption Resolution~. n ~. y.
SHAKOPEE EDA
Memorandum
TO: EDA Chairman and Commissioners
Mark McNeill, EDA Director
FROM: Gregg Voxland, Finance Director
RE: 2010/11 Tax Levy and Budget Adoption Resolution
DATE: August 12, 2010
Introduction
Attached is Resolution Number 2010-3 which requests the Shakopee City Council to consent to the tax
levy for the EDA, levy a tax for the EDA and adopts the 2011 budget.
Background
There are two statutes under which a tax for the purposes of the EDA may be levied. The major
differences as far as the levy is concerned are:
HRA EDA
469.033 469.107
Levied by EDA City
City consent yes yes
Under City levy limit no yes
MSA 469.107 has broader purposes allowed than 469.003 but the distinction is not clearly defined.
Basically, the HRA levy is for redevelopment and is limited to .0185% of taxable market value. The EDA
levy is for redevelopment and new development and is included under the city's levy limit and is limited
to .01813% of taxable market value.
Resolution No. 2010-3 has been prepared with a levy of $-0-under the HRA levy MSA 469.033 and
$80,000 under the EDA levy MSA 469.107. Last year the levies were $0 under the HRA levy MSA
469.033 and $0 under the EDA levy MSA 469.107.
The proposed budget is attached with appropriations in the amount of $99,700.
Other costs are an $11,200 transfer to the General Fund of the City for utility costs, administrative
overhead such as accounting and bill processing/payroll, publishing, and other employee's time on
related issues.
The EDA needs to adopt a proposed maximum levy and budget amount by September 15 for
certification to the County Auditor. That levy will be used for the tax notice mailed to property owners.
Action
Offer Resolution Number 2010-3, A Resolution Setting The Tax Levy For 2010/11 By The Economic
Development Authority For The City of Shakopee And Adopting The 2011 Budget, and move its
adoption.
/vv
Gregg Voxland
Finance Director
h:\budgetll\budres 11
RESOLUTION NO. 2010-3
A RESOLUTION SETTING THE TAX LEVY FOR 2010/11 BY THE ECONOMIC DEVELOPMENT AUTHORITY
FOR THE CITY OF SHAKOPEE AND ADOPTING THE 2011 BUDGET
WHEREAS, the Economic Development Authority (EDA) in and for the City of Shakopee was created
pursuant to Minnesota Statutes, Section 469.051 et seq., as amended, and
WHEREAS, Section 469.107 states that for economic development purposes, the governing body of the
municipality may levy a tax at the request of the EDA, and Section 469.033 states that for
redevelopment purposes, the EDA may levy a tax with the consent of the governing municipality, and
WHEREAS, the By-Laws of the EDA for the City of Shakopee provides that a budget be prepared on an
annual basis,
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF
SHAKOPEE, MINNESOTA, that the EDA hereby requests the City Council of the City of Shakopee to levy a
special tax of $80,000 pursuant to MSA 469.107 to be collected in 2010 for the EDA by the City of
Shakopee.
BE IT FURTHER RESOLVED, that the EDA levies a special tax of $-0- pursuant to MSA 469.033 to be
collected in 2010 by the EDA and hereby requests the City Council of the City of Shakopee to consent to
such levy.
BE IT FURTHER RESOLVED, that the attached 2011 General Fund Budget be approved with total
appropriations and transfers in the amount of $110,900.
Adopted in session of the Shakopee Economic Development Authority for the City of
Shakopee, Minnesota held this day of , 2010.
Chairman
ATTEST:
Executive Director
CITY OF SHAKOPEE
2011 - 2012 BUDGET
EDA FUND BUDGET SUMMARY
2008 2009 2010 2011 2012
Actual Actual Budget Proposed Proposed
Revenue
Taxes $ 77,081 $ 81,210 $ - $ 80,000 $ 80,000
Intergovernmental
State Aid
County (Tax abatement) 31,440 33,713
Charges for Service
Interest 22,746 15,236 15,000 10,000 6,000
Miscellaneous
Total Revenue 131,267 130,159 15,000 90,000 86,000
Expenditures
Personal Services 4,693 10,712 4,960 9,720 9,720
Supplies & Services 4,787 ,4,836 34,250 40,010 37,810
Downtown Fagade` Program 50,000 50,000
Certainteed Payment 62,937 78,305
Ryan Pmt
Total Expenditures 72,417 93,853 39,210 99,730 97,530
Excess (Deficiency) of
Revenues over Expenditures 58,850 36,306 (24,210) (9,730) (11,530)
Transfers In 36,140 32,720
Transfers Out (19,200) (19,200) (11,200) (11,200) (11,200)
Excess (Deficiency) Of Revenues
over Expenditures & Transfers 75,790 49,826 (35,410) (20,930) (22,730)
Fund Balance January 1 372,105 447,895 497,721 462,311 441,381
Fund Balance December 31 $ 447,895 $ 497,721 $ 462,311 $ 441.381 $ 418.651
EDA
2011 - 2012 BUDGET
2011 2012
2191 2191
Object # Description Management Management
6003 Wages FT -Reg. 8,000 8,000
6005 Wages OT -Reg.
6122 PERA 590 590
6124 FICA 610 610
6135 Health 350 350
6139 PEHP 30 30
6140 Life 40 40
6145 Dental 40 40
6170 Workers Comp 60 60
Total Personnel 9,720 9,720
6210 Office Supplies
6310 Attorney
6327 Other Prof Services
6332 Postage
6334 Telephone
6336 Printing/Publishing
6352 Liability Insurance
6430 Building Rent (IS FUND)
6472 Conf /School /Training
6475 Travel/Subsistence
6480 Dues
6490 Subscriptions/Publications
6640 Designated Miscellaneous
Tota! Supplies & Services
100 100
6, 000 6, 000
25,000 23,000
150
150
1,150 1,150
1,500 1,500
4,180 4,130
.500 600
500 500
530 530
250 300
50,000 50,000
90,010 87,810
6740 Capital Expenditures
Total $ 99,730 $ 97,530