HomeMy WebLinkAbout9A - 2015 Preliminary Budget and Tax LevyGCONSIDER APPROVAL ADOPTING PROPOSED
CITY
I � � Y BUDGEI S AND CERTIFYING PRMINAM 2015 IY OiF Iik
LAKE PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF
TAXATION
Introduction
positions,Hjjo�r
Beginning in 2009!, the City of Prior Lake recognized the impact of the recession
-financingupon its constituents. Accordingly, the City cut four full time services and shifted in 2;011 to a significant reliance ($5001,000 to $1 million
annually) for annual budgetary �
substantiallyAs a result of these policies, the City recorded
increases than the consumer price index (CP1) as shown below:
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Phone 952.447.9800 / Fa952.447.4245 / www.c1tyofprior1a,ke.com
NONNIfl I I
III J
Ji
Levy $9,365,437 $90881,555 p:07%186 $iOx114712�4
$9,04,,V4 $191414;124 $9,41481918, $1,01681v'086
PY$ Change $646,660 $516,118 $19,716,31 $34,038
($700,000) $0 $34J94 $1,232J68
(ACtUill)
P'Y%, Change 7.42% 5.51 % 2.00% 0.35%,
(6,22%) 0.00% 037% 13.04%
(Actual)
Est Est
Change
Recalculated:
PY$ Chq $,315$34,6 $5621945 $19,1763 ($32719,13) ($19,32,625) ($1780868) ($153,488) $itOOtI90
PIY,% Chiq 3.48% 6.04% 0.201% (1.86%) (1.60%) 10,821/o
Population and households are most closely correlated with municipal service
dem,andsi. Below are graphics which show the historic expenditure and levy per
household for this period.
Includes 2014 Amended Budget and 2015 Preliminary Budget
The City Council adopted this metric in the most recent amendment to the CFIVIP
. . "Maintain a level of General Fund operational ex�pienditures, on a per household
basis which takes into account the cost of inflation, and community growth., )I
As reflected in the chart, the preliminary 2015 budget/househo�ld is s,ignificantly
less, than the level it would be if the city's COSt actually kept pace with inflation and
g rowth.
The City Council adopted thiis metric in the most recent amendment to the CFIVIP
. . "Maintain a level of property taxes on a per household basis which takes into
account the cost of inflation and community growth. ))
As reflected in the chart, the preliminary 2015 total tax levy/household is less than
I
it would, have been had the city kept pace with actual inflation and growth over
these last 15 years
Current Circumstances
The maximum levy which we believe necessaryto continue to provide services to
our growing community while properly retiring debt, ending our reliance upon the
general fund reserve, adding money for economic development and sustaining ou
infrastructure improvement efforts is, 1,3.014% greater than 2014. 1
No one let alone city council and staff members want to see a I 'evy increase ofthis
magnitude. Unfortunately we have taken numerous well intended steps wh,ich
have placed us in this financial fix.
In res ponse�, the Staff has, included the following adjustments:
1) Reduced debt service levy by closing Debt Service Fund 5�51 --- this
requires separate Council approval;
2) Increased, the Reserve contribution to assure that the balance is at 40% at
the end of 2015.
3) Eliminated revenues and expenditures associated with Scott Joint
Prosecution Association per action taken by Council on
4.) Increased certain revenues and reduced certain expenditures after staff
review; eliminated use of reserves as a fundiing source in 2015 for General
Fund.
After these adjustments, the 20,15 -tax levy increase is created by the following five
elements:
Later in this memo we will identify potential strategies for the Coiuncil to clonsiider if'
they wish to reduce the levy increases in any of the five iden,ti'fied areas.
Below is a discussion of each of't�he levy areas as shown above.
8/2 5/ 14
9/22/14
Percent
Prelim
Adjusted
of Total
Debt Service
$247)000
$162)000
1.71%
Reserve
406,000
5117000
5.41%
Replacement
EDA Fund
381000
38) 000
0.40%
Rev Equip Fund
50,000
5070,00
0.53%
General FuQq_(qet
4607000
471)200
4.99%
Total
$11201)000
$ 12321200
13.04%
Later in this memo we will identify potential strategies for the Coiuncil to clonsiider if'
they wish to reduce the levy increases in any of the five iden,ti'fied areas.
Below is a discussion of each of't�he levy areas as shown above.
Reserves,
For decades the City has developed a General Fund reserve by un,derspending
the budget and conservatively estimating revenues. Thanks to this approach; we
have added an average of abourd the reserve which at one
point was $7 million.
The City has used reserves in recent years for expenditures which met the
reserve expenditure criteria and also to achi `eve a fund balance reseirve level thati
was within the 4;0-50% range. This balanced approach was fine as long as the
policy makers understood that when the reserve level was, appiroaching 40%, the
would have to replace the use of reserves with tax levy.
2014 ProLections
cc
As previously stated, in normal years we have contributed on average about
$200,0010 from annual operations to the reserve.
This, will be very unlikely for 2014 to 2015 because 2:0114 in many ways has been
the perfect storm.
It is entirely likely instead that the General Fund budget will require an additional
$200,000 from reserve to balance its 2014 operations. This would result in a
reserve level that is less than ; therefore, we cannot recommend using any
General Fund, reserves in 2,015.
We estimate that to bring the reserve level up to a 40% leveil by ye;arend 2015 wili",
require a levy of $511,000 which also addresses the estimated $200,000 shortfall
identif'ied above. If by the end of the year these numbers change, we will reflect
that in our final tax levy recommendations.
ISSUES: At, its recent work sessioin the City Council directed the staff to identify options to
reduce the levy if the City Couincil were of a mind to do so. We have Identified
those options below together with the im:pact of each. Department heads will be
present at the meeting to respond to questions and provide explanations if
necessary.
DEBT SERVICE
There is, little we can do about debt service for 2015 as it is the accumulation of
previous project costs and the debt that was issued to fund those projects.
However we know that biased upon the Capital Improvement Program, the debt
service numbers are anticipated to increase 5% in 2016.
The Council could decide to delay the two road reiconstruction projects presently
slated for 2015. This would mean an anticipiated tax levy re;duction of $170,000, or
1.80% for 2016 andi beyo,nd. Moreover- it wil�l allow the sitaff to focus on the
remai�ning projects and avert the need for additional employees or consultants
1
occasiiolned by these five projects.
On the other hand this would be a complete turn�arou�nd in the Council's
philosiophy oif maintainil ng infrastructure rather than deferring it. The 2040 Vision
and Strategic Plan wolul d have toi be modified accordingly., The five projects are on
the agenda after this item to afford the Council with the option of deferral if they
desire.
'row, sim Ry'' , wo,
If this activiity area is cut the City will offer no recreation programming.
Instead the public would have to participate in programs offered by
community Ed., Lifetime Fitness, another city, YMCA, or Dakota Fitnes
Club Prior would be discontinued or operated by volunteers.
The savings would be $292,954.
3. Poliice Chief- Police; Chief Bill O'Rourke h�as announced his retirement
effective January 31, 2,0!15. It wou�ld be possible to reduce the police
supervision from 6 to 5; from four sergeants, a lieutenant and a chief to
four sergeants, and a chief. Such act�ion would assume hiring from within.
On the street, the impact would be minimal as the rank and file positions
would be intact. The impact would most certainly be felt in the supervisory
ranks. Total savings is estimated at $1381,500.
r- i
4. Communitv tvenis- Annually the City budgets for community events like
Lakefron, t Days, Neighborhood Park Parties, July 4 th fireworks, contribution,
Easter Egg Hunt, Autumn Gathering and Decem�brrr Dazzle. A total of
$3i3,550 is set aside for this pu�rposei. Without these; funds the events
wou�ld be curtailed or discontinued.
6. Pavement Management Allocation -The streets budget contains a sizable
allocation to provide pavement management for city streets based upon
a total of $ 830)845
If all' of the above options were chosen by the ci ' ty council,
cd.ould be removed from the levy. Of course there would also be signif'icant
service impacts.
These are policy decisions for the City Council to discuss and decide upoin.
T'olnig, ht's decision is not final. It sets the Maximum levy allowable. The city
council may reduce the levy and budget as they see fit w,ith the fi�nal', approval
of the budgets scheduled on December 8, 2014.
FINANCIAL Dependent upon city council action.
IMPACT. -
ALTERNATIVES.: 1. Approve both resolutions approving preliminary budgets, and setting maximum
levies as set forth, in the resolutions.
2. Approve the resolutions modified to delete certain expenditures and the
proigrams they support.
3. Take no action and establish last year') s levy as this, year's maxim�um.
RECOMMENDED; As, determined by the City Council
MOTION:
RESOLUTION 14-xxx
A
RESOLUTION
ADOPTING
11 , V
P l
f v
2015
CITY
BUDGETS
NCERTIFYINGI
PRELIMINARY CITY
OF PRIOR LAKE
PROPERTY TAX f
TO SCOTT COUNTY DEPARTMENT
WHEREAS, Truth in Taxation provisions as specified by state statute requires the Prier Lake City
Council to certify a proposed property tax levy to the Scott County Department of
Taxation; and
WHEREAS,: Preliminary budget amounts for the City of Prior Lake for calendar year 20115 are
estimated as f ll�rs; and
12�8883070
4J2219751
7,
5030100
7979550
1431052
, 7
3j31 1 ,
191315020
1,
oo
The proposed property tax levy for the City f Prior Lake for payable year 2015 Is a
follows; and
General Purposes $ 9
3309230
Revolving i250,000
Debt Service , 1 ,
Total $ 109419139586
The proposed property tax levy by tax base for the it f'ri r Lake for payable r
2015 is as follows; and
Market;Tax Capacity Basied Levy $ 91458,093
r110351493
Total $ 109493,586
The proposed City of Prior, Lake property tax levy for the year payable 2015represents
a $1, 194,,668 or 12.80% increase in total tai l(excludinge
Economic
l prn nt Authority levy); an
WHEREAS, The City Council will consider the 2015 General Fund, Debt Service Funds, Revolving
1. The recitals set forth above are incorporated herein.
2. That the proposed tax levy be distributed uponthe taxable property in said it for the foill owing purposes
in payable 2015:
?_qffl _0S e
Amount
Amount
General it Purposes
Morton
$ 7)3303230
Revolving Equipment Fund
El
2501)000
Debt Ser�vi,ce:
El
1:1
F553-CSAH 82 Improvement Appropriation '06
$148,805
F1
F554-G.O. Street Reconstruction Bonds '07
179)000
El
F555-G,O. Imp and '0 (Brooksville Hills, 1)
91)0001
El
F556 -G.10. Imp Bonds'09 (Brooksville Hills 11)
139)000
F,
F557-G.O. Imp Bonds 2010 (CR12)
109)000
1:1
F'558.-G,O. Imp Bonds 2011 A (Boudin I/Arcadia ROW)
167,000
F
F5591-G.O. Imp Bonds 2011 B (Boudins I I/Arcad,ia)
201)000
F317-G.O., CIP Refunding Bonds 2012A
587,058
F560-G.O. Imp Bonds 2013,A (We`�lcome,CR12,Sunset)
15)000
F561 -G. Imp bonds 2014A (Maplewood, Crest, Carriage)
241,000,
.
F316 -Park Refunding Bonds'05
820)475
F318 -Fire Station #21 Referendum Bonds'06
Total Debt Service
.2115)018
21913)3,56
Total
$ 109491315861
Note: Single starred funds shall be spread over the entire consoilidated City of Prior Lake -
Note: Double starred funds represent market value -based referendum taxes and shall be spread over the
entire consolidated City of Prior Lake.
VOTE
Hedber
rye
cGuire
Morton
Sou!Lup
Aye
El
0
El
El
1:1
Nay
1:1
F1
1-1
F
El
Absent
F1
El
F1
El
F,
Abs4n
El
1:1
F1
El
F
RESOLUTION 14..xxx
A RESOLUTION ADOPTING PROPOSED 2015 ECONOMIC DEVELOPMENT AUTHORITY
BUDGET AND CERTIFYING PRELIMINARY 20015 ECONOMIC DEVELOPMENT Au'mORITY
PROPER"rY TAX LEVY TO SCOW COUNTY DEPARTMENT OF: TAXATION
EllI
WHEREAS, Truth in Taxation provisions as specified by state statute requires the Prior, Lake City
Council to certify a proposed property ,tax levy to the Scott County Department of
Taxation; and
WHEREAS, State Statute 469, 107 subd. 1 provides that a city may, at the request of the Economic
Development Authority, levy a tax in any yearfor the benefit of the authority in an
amount not to exceed 0.01813 percent of taxable market value; and
WHEREAS, The maximum allowable ED,A pr�rty fax levy for payable, year 2015 has been
determined, to be approximately $476,000-1I and
WHEREAS, The Prior Lake E,DA, at its regularly scheduled meeting of August 18, 2014, authorized
a 2015 tax levy for economic development purposes in the amount of $187,500 and a
2015 budget of $195,000,
NOW THEREFORE,, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1 1
The recitals set forth above are incorporated herein.
preliminary tax levy of $187,500 and proposed, budget of $195,000 are approved for payable year 2015.
3. That the proposed Economic Development Authority tax levy be distributed upon the taxable property in
said City for the purposes of economic development in payable 201,5.
1 � 010611 111 � I III
VOTE
Aye
1:1
El
1:1
1:1
0
Nay
0
0
El
1:1
Absent
M
0
0
El
Abs4n
0
r-1
El
0
El
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