HomeMy WebLinkAbout3. Resolution No 2011-2, A Resolution Setting the Tax Levy for 2011/2012 by the Economic Development Authority for the City of Shakopee and Adopting the 2012 BudgetSHAKOPEE EDA
Memorandum
TO: EDA Chairman and Commissioners
Mark McNeill, EDA Director
FROM: Michael Leek, Community Development Director
RE: 2012 Tax Levy and Budget Adoption Resolution - Preliminary EDA Resolution
DATE: August 29, 2011
Introduction
Attached is Resolution Number 2011 -2 which requests the Shakopee City Council to consent to the tax
levy for the EDA, levy a tax for the EDA and adopt the 2012 EDA budget.
Background
The EDA has recently utilized the State Statute specific to a tax levy that allows the collection of the levy
to be collected under the City levy. This is Statute 469.107, which is a broader purpose levy and allows
for the use of the levy for redevelopment and new development. This levy is limited to .01813 % of
taxable market value.
Resolution No. 2011 -2 has been prepared with a levy of $ 80,000 under the EDA levy MSA 469.107. This
is consistent with the levy that was requested for the 2011 budget year, of $ 80,000.
The proposed budget is attached with appropriations in the amount $103,189, including transfer of
$11,200.
The fund transfer to the General Fund of the City in the amount of $11,200 is for utility costs,
administrative overhead such as accounting and bill processing /payroll, publishing, and other
administrative time.
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 parcel specific notices mailed to
property owners later in the fall.
Action
Offer Resolution Number 2011 -2, A Resolution Setting The Tax Levy For 2011/12 By The Economic
Development Authority For The City of Shakopee And Adopting The 2012 Budget, and move its
adoption.
RESOLUTION NO. 2011 -2
A RESOLUTION OF THE CITY OF SHAKOPEE ECONOMIC DEVELOPMENT AUTHORITY (EDA)
SETTING THE EDA TAX LEVY FOR 2012, ADOPTING THE 2012 EDA BUDGET, AND REQUESTED
THAT THE SHAKOPEE CITY COUNCIL LEVY THE REQUESTED 2012 EDA LEVY
WHEREAS, the Economic Development Authority (EDA) in and for the City of Shakopee exists
pursuant to Minnesota Statutes Section 469.091 et. seq.; and
WHEREAS, Minnesota Statutes Section 469.107 provides that, for economic development
purposes, the governing body of a municipality may levy a tax at the request of the
municipality's EDA; and
WHEREAS, on an annual basis, the Shakopee EDA prepares an annual budget; and
WHEREAS, the EDA proposes a levy for economic development purposes in the amount of
eighty thousand dollars ($80,000.00).
NOW, THEREFORE, BE IT RESOLVED BY THE SHAKOPEE EDA, that the Shakopee EDA hereby
requests that the City Council of the City of Shakopee levy a special tax of eighty thousand
dollars ($80,000.00) to be collected in 2012 for EDA purposes pursuant to Minnesota Statutes
Section 469.107.
Adopted in special session of the Shakopee Economic Development Authority for the City of
Shakopee, held this 6 th day of September, 2011.
Chairman
ATTEST:
EDA Executive Director
CITY OF SHAKOPEE, MINNESOTA
2012 Budget
EDA FUND BUDGET SUMMARY
Expenditures
Personal Services
2009
2010
2011
2012
4,836
Actual
Actual
Budget
Proposed
Revenue
50,000
Certainteed Payment
78,305
78,305
Taxes
$ 77,081
$ 81,210
$ -
$ 80,000
Intergovernmental
93,853
98,952
49,730 91,989
State Aid
County (Tax abatement)
31,440
33,713
Charges for Service
Interest
22,746
15,236
15,000
10,000
Miscellaneous
Total Revenue
131,267
130,159
15,000
90,000
Expenditures
Personal Services
10,712
15,263
9,720 13,040
Supplies & Services
4,836
5,384
40,010 28,949
Downtown Fagade Program
50,000
Certainteed Payment
78,305
78,305
Ryan Pmt
Total Expenditures
93,853
98,952
49,730 91,989
Excess (Deficiency) of
Revenues over Expenditures 37,414 31,207 (34,730) (1,989)
Transfers In 36,140 32,720
Transfers Out (19,200) (19,200) (11,200) (11,200)
Excess (Deficiency) Of Revenues
over Expenditures & Transfers 54,354 44,727 (45,930) (13,189)
Fund Balance January 1 372,105 447,895 497,721 451,791
Fund Balance December 31 $ 447,895 $ 497,721 $ 451,791 $ 438,602
EDA
100
2012 Budget
1,000
6327 Other Prof Services
2012
6332 Postage
2191
Object# Description
Management
6003 Wages FT - Reg.
10,900
6005 Wages OT - Reg.
639
6122 PERA
790
6124 FICA
830
6135 Health
350
6139 PEHP
30
6140 Life
40
6145 Dental
40
6170 Workers Comp
60
Total Personnel
13,040
6210 Office Supplies
100
6310 Attorney
1,000
6327 Other Prof Services
20,000
6332 Postage
6334 Telephone
6336 Printing /Publishing
1,150
6352 Liability Insurance
639
6430 Building Rent (IS FUND)
4,130
6472 Conf / School / Training
600
6475 Travel /Subsistence
500
6480 Dues
530
6490 Subscriptions /Publications
300
Total Supplies & Services 28,949
6740 Capital Expenditures
Total $ 41,989