HomeMy WebLinkAbout2. Budget Discussion
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CITY OF SHAKOPEE
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
SUBJ: General Fund Budget Status
DATE: August 19, 2004
Staff is still compiling numbers for the 2005 budget, and some numbers
will change. At the present time, the General Fund budget is
"balanced" with the following assumptions;
1) Tax rate stays the same, meaning a 10% - 15% increase in the tax
bill for an average house. The average house value increased 10%
- 15%. The difference between a 10% increase and a 15% increase
in the tax bill is $400,000 in the tax levy.
2) The state does not cut the market value credit when the
legislature meets next year. Market value credit will not be
known until levies are in the county and calculations run but the
number for pay 2004 was $560,000.
3) Council relies on a 2% under-spend of the budget consistent with
other years. The under-spend for 2003 and 2002 was 9.8% and 8%
respectively.
4) Reliance on development fees decreases from 18% to 14.2%.
5) Transfer to the Recreation Fund is $1,200,000, up from $896,950.
Part of increase is Natural ~esources function moved from General
Fund to Recreation Fund.
6) Tax increase includes a levy for the next improvement bond issue
(2004C GO Improvement bonds) .
7) No levy included for the 2004D Public Works Building Bonds.
8) Taxable tax capacity increases by 19.15%.
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CITY OF SHAKOPEE
2004 GENERAL FUND BUDGET SUMMARY
2000 2001 2002 2003 2004 2005
Actual Actual Actual Actual Estimate Estimate
Revenue
Taxes $3,399,045 $3,863,980 $5,872,185 $6,972,300 $9,426,980 $9,426,980
Special Assessments 2,167 1,641 15,570
Licenses and Permits 2,023,037 2,740,253 2,313,544 3,227,264 1,773,500 1,773,500
Intergovernmental 872,607 981,799 1,065,292 535,329 278,930 278,930
Charges for Service 1 ;957,569 1,065,824 1,243,535 1,491,614 877,200 877 ,200
Fines and Forfeits 172,017 230,085 253,348 239,588 260,000 260,000
Miscellaneous 678,652 314,192 296,935 271,657 250,000 250,000
Total Revenue 9,102,927 9,198,300 11,046,480 12,753,322 12,866,610 12,866,610
Expenditures
General Government 2,218,058 2,325,091 2,621,616 2,412,918 3,009,630 3,173,850
Public Safety 3,318,628 3,706,838 4,421,028 4,736,516 5,353,660 6,355,090
Public Works 1 ,505,776 1,625,264 1,847,808 1,697,113 2,003,220 2,475,230
Recreation 621,306 664,340 622,099 669,570 721,470 1,007,310
Miscellaneous 86,805 103,681 109,455 317,167 580,000 130,000
Total Expenditures 7,750,573 8,425,214 9,622,006 9,833,284 11,667,980 13,141,480
Excess (deficiency) Revenues
over Expenditures 1,352,354 773,086 1,424,474 2,920,038 1,198,630 (274,870)
Other Sources 1,236,460 1,257,375 1,066,791 1 ,115,000 1,225,000 1,225,000
Other Uses (2,416,036) (3,843,340) (2,101,744) (932,520) (929,380) (1,229,230)
Excess (deficiency) Revenues
& Other Sources Over
Expenditures & Other Uses $172,778 ($1,812,879) $389,521 $3,102,518 $1,494,250 ($279,100)
Residual Equity Transfer 84,323
Fund Balance December 31 $4,873,116 $3,144,560 $3,534,081 $6,247,078 $5,028,331 $5,967,978
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2004 GENERAL FUND BUDGET - REVENUES
2000 2001 2002 2003 2004 2004 2005
ACTUAL ACTUAL ACTUAL ACTUAL 6/30/2004 EST. EST.
Taxes
Current Ad Valorem $ 2,902,393 $ 3,370,309 $ 5,256,266 $ 6,221,737 $ 6,565,990 $ 8,517,200
Tax Increment 74,402 45,148
Fiscal Disparities 322,403 318,725 366,621 514,954 655,720 694,180
Mobile Home 290 349 428 576 350 600
Aggregate Tax 9,117 11,277 14,996 13,522 15,000 15,000
LOdging Tax 164,842 163,320 159,472 176,363 61,145 190,000 200,000
Total Taxes 3,399,045 3,863,980 5,872,185 6,972,300 61,145 7,427,060 9,426,980
Special Assessment 2,167 1,641 15,570 9,045
Licenses & Permits
Track Franchise 9,030 9,703 9,480 10,740 10,000 11,000
Liquor Licenses 105,601 100,032 104,322 93,047 88,509 100,000 100,000
Beer licenses 3,170 3,043 4,765 2,108 3,052 3,000 3,500
Cigarette licenses 5,465 5,934 5,623 7,887 839 6,000 8,000
Misc. Business Permits 5,689 6,116 6,597 8,071 1,045 6,000 8,000
Dog licenses 2,505 1,295 1,154 1,098 682 1,300 1,000
Misc. Non-Bus. Lic. 307 20 - -
Total Licenses 131,767 126,143 131,941 122,951 94,127 126,300 131,500
Building Permits 1,379,292 1,243,553 1,069,311 1,507,192 728,295 1,000,000 800,000
Plan Check 815,971 740,120 635,031 938,662 468,814 520,000 450,000
Plumbing Permits 139,975 107,090 100,246 142,468 73,757 60,000 60,000
Mechanical Permits 155,607 212,702 101,454 151,518 93,898 60,000 60,000
Electric Permits 115,870 125,403 112,267 144,457 56,635 70,000 70,000
Re-inspection 7,744 3,510 8,000
Fire Permit Rev 1,943 27,345 19,175 25,023 22,125 25,000 25,000
Septic Permits 1,750 237 -
Sewer Permits 35,563 31,215 25,771 45,136 18,321 25,000 35,000
Woodland Mgt 2,440 4,000
Street Opening Permits 61,270 126,445 118,348 142,113 54,188 70,000 130,000
Total Permits 2,707,241 2,614,110 2,181,603 3,104,313 1,521,983 1,830,000 1,642,000
InterQovernmental
Grants - Fed 44,600 17,158 164,378 80,601 34,496 108,880 75,000
State Grants & Aids 24,109 45,830 27,914 241,433 39,528
Local Government Aid 219,201 242,026 165,666
HACA 459,293 535,418 544,969
PERA Aid 11,933 18,170 15,052 11,933 15,000 11,930
Police State Aid 113,471 123,197 140,396 167,083 140,000 170,000
Low Income Housing 9,253 10,000
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2000 2001 2002 2003 2004 2004 2005
ACTUAL ACTUAL ACTUAL ACTUAL 6/30/2004 EST. EST.
County Grants/Aid 6,917 12,815 12,000
Local Grants/Aids - 12,211 3,968 6,100
Total Intergovernmental 872,607 981,799 1,065,292 535,329 77,992 269,980 278,930
Charaes for Service
Administrative Fee 128,973 128,753 162,441 149,331 57,830 125,000 155,000
Sale of Documents 12,107 6,591 11 ,405 6,341 6,623 8,000 8,000
Assessment Search 1,065 1,625 1,815 925 1,230 1,000 1,300
Release of Dev. Agreeme 330 360 340 420 260 300 400
Comprehensive Plan Fee 10
Land Division Administrati 11,082 14,158 10,377 10,762 4,900 10,000 10,000
Land Use Administration 29,419 30,124 27,094 46,474 20,054 30,000 30,000
Misc. Police Services 165,209 85,506 84,045 86,620 38,226 85,000 88,000
Fire Calls & Contracts 46,239 43,103 68,285 53,585 33,604 50,000 55,000
Pound Fines & Fees 3,220 3,570 3,600 4,230 2,330 3,500 4,500
Valleyfair 24,040 26,444 29,089 31,998 35,194 30,500 35,000
Card Club -
Misc. Public Works 13,226 4,529 18,383 5,424 4,503 10,000 6,000
Refuse Charges 10,399 9,616 10,000
Signs 11,910 18,360 12,960 5,130 15,000 14,000
Engineering Services 568,184 576,658 747,009 944,489 613,264 420,000 400,000
Engineering Grade Fee 138,503 132,493 61,282 127,656 133,504 60,000 60,000
Total Charges for Svs. 1,141,597 1,065,824 1,243,535 1,491,614 966,268 848,300 877,200
Fines and Forfeits
Fines 172,017 230,085 253,348 239,588 106,775 260,000 260,000
Miscellaneous
Miscellaneous 111,762 54,462 52,395 45,254 5,452 50,000 50,000
Interest 555,802 248,554 232,614 222,061 (67,372) 150,000 200,000
Rent 11,088 11,076 11,926 3,842 235
Contributions 100 - 500
Total Miscellaneous 678,652 314,192 296,935 271,657 (61,685) 200,000 250,000
Total Revenues 9,102,926 9,198,300 11,046,480 12,753,322 2,775,650 10,961,640 12,866,610
Other Sources
Sale Of Assets 102,517 13,680 9,644
Transfers 84,323 - 156,310
SPUC Contribution 1,133,943 1 ,238,295 1,057,147 1,122,355 468,000 1,175,000 1,225,000
Total Other Sources 1 ,236,460 1,336,298 1,066,791 1,122,355 468,000 1,331,310 1,225,000
Grand Total 10,339,386 10,534,598 12,113,271 13,875,677 3,243,650 12,292,950 14,091,610
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~=f:~K~~:~i~'9::+--- -=l~=~~t~~=-:=::=J-===- --W ~::
~~t~~~.~~~~~~~--1 =~ll, ~~~!~~~=~1~==~~-===,~=~~~.._=~~~~QLOOO I f~~~~~3 I 18.5%
I--n..+QebtS~lYiCEL-~____ ' .. _..__.,___.-!,__L.____ ..__,.____ o.cfO%
__..L1 ~9..fllm.IL_~1 _,__" I 62 274___ cnx i.__I' ..______, 61.556 . 61.556
I . r --.
.__1_J9~9A 11lJ~_ ___.._____... 64.173 _..u__..Ql..KL......._, "..______ 63.495"1-,,,_"_" cnx -_
--j-'~M8 Imp t- 61 866_ onxLi------~t- .. onx --
.~_ WHlJU!!'-"=l - 30.151 ._30.151.1_-1____ 29,980 ___ 29 980
__" 2..000A Imp _ .. 55.032 ....55"032_L_L___ 47,342 __ 47.342
2002A Imp 93332 93.332 i ] 97.479 97479 ---
- -- -,--~-- ii;Wir'H;i;.=\f0.';jQijW"J'J:~~f0filif,fii1~;\'''''mt"i~~
2004C Imp I ...."".".....,."",m"8",,,,,...,q;:,,,, 145000
- i . I ~---~--J:~.:f~Gm~;!llli~~~~miJ.~l~~>m~i\r1t~~I~~GW~ ~
1---- ~f;~d~~~rm Revenue 156309 156~09 -r-1'.".,....A.'"'..,...w'^~"''"''."..~--- 0
_._ MS;J;..S I =1202817*0.33 I 0
Fire Referendum _ I 2/;!i ~17 ..! 254..679
Total Debt Service 334824 I 381 357 46533 13.9%
COPS 2003 match inn levv 92.883 =r-: 95.669
PERA increase levv 12169 - 12500
Certainteed levv for tax abatement 29 225 29.000
Rvan Abatement
Total Levv 8.340.478 9.848526 1 508048 18.1%
.
Fiscal DisD Dist (655 720\ (693 oom 137 28m
Net Levv to soread' 7.684.758 '. .,~..~.19,!?,J.92R. 1470768 19.1%
Market Value cut (560.263\ wJII,!;!k1i!l'Jf"'J!lliidl.
Allowance for Uncoil. 1166 810\i196 971\ (30161\
Budaet Amount , a OS::7 aos:: II Q<;ll ~i:;lf 2 000,871
I
General Fund I 6562861 (net' 8.517199 1 954338 29.8%
General Fund - transfer in 156309 0
EDA - citv levv ., 60 000 60 000
Debt ~"'rvk.A I 178 "15 ~R1 ~57 202,842
LEVY04-05.XLS LEVY04-05 4:16 PM 8/19/2004
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Ci..ty of __~~a.,J:,?!,e", 1-___,_1-__,,_.. I i ; ;
- pronertv Tax - tax caoacity based ... -"--=~=..=._j "'.nL~~__
... -. "~I
YE/20""__,, "+'---'-- Pay 2004 Pay 2005 _...........! .._...~..L._.H. Change
--.----....------nn"-l--....-=F-- _.H"~._ __!....._..
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- Net levY"spread"- ..-- $7,684,758 $9..,155, 526"T.-~~.'T=:.- 19.14%
-:.--..-.....,.........-,...--- -
Total City Net Taxable Tax Cap. 23,693,971 28,230,349! ! 19.15%
_____...:'.=..,:=-:,~J:___ I ------..-j-...... -r --..
.. ,
City Tax Rate ! 32.4330% 3~ .43i5%F=~:;.,.:...~. 0.00%
.---'---'-- ....-t-
---...". i
! I i
Assessor's Estimated Market Value $141,600 $154,100 i: 8.8%
Tax capacity'~~=~:~ ,.54~I~I: ~
First $500,000 at 1% 1,416
Balance at'-i~"25%
I 1,416 1,541 J ___,,1.... 8.8%
State Tax Credit! , -+---.+---
..- I $40.52
City Tax I $459.25 $499.771'---"- 8.8%
I I i
Assessor's Estimated Market Value $162,400 $186,800 I I 15.0%
Tax capaci!Z.. -" ..
-_._- ....,-
First $500,000 at 1% 1,624 1,868 ...,
Balance at 1.25%
1,624 1,868 15.0%
State Tax Credit
$79.11
City Tax $526. n $605.82 15.0%
Assessor's Estimated Market Value $240,700 $276,800 15.0%
Tax Capacity ,
First $500,000 at 1% 2,407 2,768
Balance at 1.25%
2,407 2,768 15.0%
State Tax Credit
$11 7.04
City Tax $780.66 $897.70 15.0%
1
Assessor's Estimated Market Value $449,000 $513,000 14.3%
Tax Capacity I
First $500,000 at 1% 4,490 5,163
Balance at 1.25%
4,490 5,163 15.0%
State Tax Credit
$218.03
city Tax $1,456.24 $1,674.28 15.0%
Assessor's Estimated Market Value $513,000 $590,000 15.0%
Tax Capacity I
First $500,000 at 1% 5,163 6,125
Balance at 1.25%
5,163 6,125 18.6%
State Tax Credit
$312.08
City Tax $1,674.35 $1,986.43 18.6%
Assessor's Estimated Market Value $285,600 $328,400 15.0%
Tax Capacity I
First $500,000 at 1% 2,856 3,284
Balance at 1. 25% I
2,856 3,284 15.0%
State Tax Credit
$138.76
City Tax I $926.29 $1,065.05 15.0%
I
Assessor's Estimated Market Value $285,600 $328,400 I 15.0%
Tax Capacity i Commercial
First $150,000 at 1.5% 2,250 2,250
Balance at 2.0% .2,712 3,568 ...
I 4,962 5,818 17.3%
i
I I
I I $277.54
City Tax ! I $1,609.33 $1,886.86 I ! 17.2%
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LEVY04-0s.XLS TAXBILL pay OS 4:16 PM 8/19/2004
City of Shakopee .
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Class Estimated Value Limited Value Taxable Value rt',) Referendum Value New Construction Tax Capacity
Agricultural 69,900,800 31,163,200 31,163,200 5,480,000 180,300 278,666
Residential-Hmstd 1,613,145,900 1,510,196,100 1,502,156,000 1,501,865,600 108,862,470 15,029,351
Residential-NonHmstd 99,882,100 88,398,500 79,407,500 79,407,500 11,466,400 865,977
Res 4+Unit Non Hmstd 66,077,100 66,077,100 66,077,100 66,077,100 1,027,400 825,974
Public Utility (real) 18,482,300 18,482,300 18,482,300 18,482,300 - 369,646
Manufactured Home Park 513,400 513,400 513,400 513,400 - 6,418
Seasonal Recreational - - - - - -
Community Service 26,200 26,200 26,200 26,200 - 393
Commercial Seas Rec 270,100 270,100 270,100 270,100 - 2,701
Commercial 234,224,200 234,224,200 234,224,200 234,014,200 11,311,400 4,491,291
Industrial 309,492,000 309,492,000 309,492,000 309,492,000 5,943,000 6,115,248
Qualifying Golf Course 2,118,300 2,118,300 2,118,300 2,118,300 134,400 26,479
Rail Road 1,595,000 1,595,000 1,595,000 1,595,000 - 31,150
Personal Property 10,128,500 10,128,500 10,128,500 10,128,500 - 201,160
TOTALS 2,425,855,900 2,272,684,900 2,255,653,800 2,229,470,200 138,925,370 28,244,454
...'. ' .. .... ...::, ::;'~P:P'~:~ijlij~~;':E3YJQJ~~~ifiQ~ti61'1,:i-;Nq"J"::fDIN~I....'" ..
Class Estimated Value Limited Value Taxable Value Referendum Value New Construction Tax Capacity
Agricultural 57,201,200 29,117,600 29,117,600 5,492,900 20,000 257,498
Residential-Hmstd 1,837,213,200 1,795,321,400 1,792,598,600 1,792,308,200 145,702,200 17,940,833
Residential-NonHmstd 151,144,600 144,601,800 123,251,600 123,251,600 24,927,900 1,335,325
Res 4+Unit Non Hmstd 78,961,500 78,961,500 78,961,500 78,961,500 6,307,500 987,040
Public Utility (real) 18,061,500 18,061,500 18,061,500 18,061,500 - 361,230
Manufactured Home Park 515,700 515,700 515,700 515,700 - 6,446
Seasonal Recreational - - - - - -
Community Service 26,800 26,800 26,800 26,800 - 402
Commercial Seas Rec 274,400 274,400 274,400 274,400 - 2,744
Commercial 293,016,700 293,016,700 292,004,500 292,004,500 19,565,600 5,637,819
Industrial 313,748,500 313,748,500 313,748,500 313,748,500 937,400 6,196,138
Qualifying Golf Course 2,120,800 2,120,800 2,120,800 2,120,800 - 26,511
Rail Road 1,921,400 1,921,400 1,921,400 1,921,400 - 37,678
Personal Property 11,266,400 11,266,400 11,266,400 11,266,400 - 223,900
TOTALS 2,765,472,700 I 2,688,954,500 I 2,663,869,300 2,639,954,200 197,460,600 33,013,564
**** Tax Capacity Figures represent Gross Tax Capacity not yet reduced by Tax Increment and Fiscal Disparity Contribution