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82190.2 <br />"OliNCIL MEETING <br />AUG 27 1990 <br />CITY OF OROHO <br />TOs Mayor and City Council <br />FROM: Mark E. Bernhardson, City Adininistratd <br />DATS: August 21, 1990 <br />SUBJECT: 1991 Budget <br />Attachment:A. Proposed 1991 Budget r‘6 Levy Resolution <br />B. 1991 Memo Dated 7/19/90 <br />C. 1991 Budget Memo Dated 8/7/90 <br />D. Proposed 1991 Budget (Previously transmitted) <br />E. 1991 Budget Narrative <br />F. December 1990 Calender <br />G. Hennepin County Letter Dated 8/16/90 <br />ISSUES - <br />1. Present 1991 preliminary budget to Council. <br />2. Establish a maximum levy and preliminary budget for the budget <br />hearing. <br />3. Set a budget hearing date. <br />4. Set a budget work session(s) for Council. <br />DISCUSSION - The budget as presented represents a 3.9% overall <br />increase from the 1990 budget. Attachment E is a narrative of <br />the changes that represent other than the status quo. <br />LEVY - As you may recall the City has to adopt a maximum 1991 <br />levy by the 1st of September, which will be used for public <br />hearing purposes later this year. This levy can be reduced <br />during the public hearing process, however, it can not be raised. <br />In addition the City is required to establish a budget level for <br />public hearing purposes. The proposed General Fund maximum <br />budget is adopted by motion while the max m proposed tax levy <br />for all purposes is adopted by resolutior ?he levy consists of <br />a maximum levy allowed for the General Ft together with levies <br />to levy in accordance with the existing bond schedules for those <br />funds. It additionally includes monies for the 1989 Sewer and <br />Water Bonds in order to allow the City to be able to pay off the <br />debt ahead of schedule thereby reducing the City's debt load and <br />then using the income stream from the outstanding special <br />assessments, which can then be used for general City purposes. <br />The proposed General Fund tax levy total of $1,650,741 is 4.1% <br />over last year's but will probably reflect a decrease in the tax <br />extension rate due to the estimated 11.3% increase in tax <br />capacity. The total proposed fr levy for the General Fund plus <br />all debt issues is $1,853,541 or 13.1% over last year and will <br />show a slight overall incre.se of 1.7% in the estimated tax <br />extension rate.