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^CHJNcn. <br />OEC 9 <br />REQLTST FOR COt^NCIL ACTION 1996 <br />cnvoF <br />&DATE: December 5, 1996 <br />ITEM NO: I <br />Department Approval: <br />Name Ron Moorsc <br />Title City Administrator <br />Item t)escription: <br />Administrator Reviewed:Agenda Section: <br />Administrator's Report <br />Public Hearine - 1997 Budeet and Tax Levy - Resolutions <br />Attachment:1. Resolution Adopting the Final 1996 Tax Levy Collectible in 1997 <br />2. Resolution to Adopt the 1997 General Fund Budget <br />3. Resolution to Adopt the 1997 Special Revenue Funds Budgets <br />4. Resolution to Adopt the 1997 Debt Service Budget <br />5. Resolution to Adopt the 1997 Capital Project Funds Budget <br />The propiised 1997 budget is fiscally conserv'ative in that it maintains current service levels while <br />positioning the city to address a number of long term fiscal issues. These issues include the <br />following: <br />\: <br />2. <br />3. <br />4. <br />r. -r?. ■ - <br />F^hdmg for sTfeef repair ancTrepTaceinenT <br />' t..,rr -i- <br />Funding for priority sanitary sewer projects. <br />Funding for storm water drainage projects. <br />Funding for water and sewer infrastructure repair and replacement. <br />GENERAL FUND EXPENDITURES <br />The proposed 1997 General Fund Expenditures, those with the greatest impact on the tax levy, <br />are $3,447,605. This is an increase of $99,850 or 2.9% over the 1996 General Fund Budget. <br />This reflects an effort to hold the line on expenditures while maintaining and improving current <br />service levels. <br />TAX LEVY <br />The tax levy required to fund the total 1997 budget is $2,161,630. This is an increase of <br />$80,790 or 3.88% over the 1996 levy. The portion of the tax levy required to fund the General <br />Fund budget is $1.680.980. This is an increase of $33,040 or 2.0% over the 1996 General Fund <br />levy. The major reason for the 3.88% overall levy increase is a levy of $45,500 to enable a <br />substantial increase in the city’s street repair program. This levy amount positions the city to <br />address both short term and long term street repair needs. <br />Because of a significant increase in the city’s lax base, the proposed tax levy will result in a <br />reduction in the city’s tax capacity rate from 14.743% to an estimated 14.246%. This 3.36% <br />reduction in the city’s tax capacity rate will enable Orono’s tax capacity rate to remain one ot <br />the lowest in Hennepin County. <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt the attached resolutions related to the 1997 Budget and Tax Levy <br />I