HomeMy WebLinkAbout23-124 Resolution Approving Prelim 2024 City Budgets and Property Tax Levy4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 23-124
A RESOLUTION ADOPTING 2024 CITY BUDGETS AND CERTIFYING
PRELIMINARY 2024 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Braid Second By: Lake
WHEREAS, State statute requires that the Prior Lake City Council 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 2024 are
estimated as follows; and
General Fund $ 20,975,067
Debt Service Funds 5,218,943
Cable Fund 6,000
Capital Park Fund 305,000
Revolving Equipment Fund 864,200
Revolving Park Equipment Fund 65,000
Permanent Improvement Revolving Fund 6,664,590
Facilities Management Fund 866,700
Water Fund 6,104,975
Sewer Fund 5,921,280
Water Quality Fund 2,488,442
Total $ 49,480,197
WHEREAS, The proposed property tax levy for the City of Prior Lake for payable year 2024 is
as follows; and
General Purposes $ 13,941,198
Revolving Equipment Fund 800,000
Revolving Park Equipment Fund 460,000
Permanent Improvement Revolving Fund -
Facilities Management Fund 205,000
Debt Service 3,451,512
Total $ 18,857,710
WHEREAS, The proposed City of Prior Lake property tax levy for the year payable 2024 of
$18,857,710 represents a $1,993,754 or 11.81% increase; and
The City Council will consider the 2024 General Fund, Debt Service Funds, Cable
Fund, Capital Park Fund, Revolving Equipment Fund, Revolving Park Equipment
Fund, Permanent Improvement Revolving Fund, Facilities Management Fund and
Enterprise Fund Budgets and the Final 2024 Property Tax Levy during its regularly
scheduled council meeting at 7:00 p.m. on Monday December 4, 2023 at 4646
Dakota Street SE, Prior Lake with a continuation (if necessary) at 7:00 p.m. on
December 4, 2023.
2
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1.The recitals set forth above are incorporated herein.
2.That the proposed tax levy be distributed upon the taxable property in said City for the following
purposes in payable 2024:
Note: Single starred funds shall be spread over the entire consolidated 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.
Note: All other bond issues have sufficient fund balances to cover debt requirements.
Passed and adopted by the Prior Lake City Council this 18th day of September 2023.
VOTE Briggs Braid Burkart Churchill Lake
Aye ☒☒☒☒☒
Nay ☐☐ ☐☐ ☐
Abstain ☐☐ ☐☐ ☐
Absent ☐☐ ☐☐ ☐
______________________________
Jason Wedel, City Manager
Purpose Amount Amount
*General City Purposes 13,941,198
*Revolving Equipment Fund 800,000
*Revolving Park Equipment Fund (Park Equipment & Trail
Replacement)
460,000
*Permanent Improvement Revolving Fund (Street Overlay)-
*Facilities Management Fund 205,000
Debt Service:
*F562-Guaranteed Energy Savings Program 245,614
*F563-G.O. Imp Bonds 2015B (150th/13)521,969
*F565, 566, 567-G.O. Imp Bonds 2016A (Manitou)69,102
*F566-G.O. Imp Bonds 2016A (150th/13)39,060
*F568-G.O. Imp Bonds 2017A (Cates, Balsam, Franklin, Sycamore) 296,124
*F570-G.O. Imp Bonds 2018A (Equip, CIP, Imp, Street Recon)535,919
*
*
*
*
F572-G.O. Imp Bonds 2019A (Street and Capital Improvements)
F574-G.O. Imp Bonds 2021A (Street, Equipment, Refunding)
F575-G.O. Imp Bonds 2021B (Refunding)
F576-G.O. Imp Bonds 2022A (Street and Capital Improvements)
206,472
257,251
874,950
156,563
*F577-G.O. Imp Bonds 2023A (Street Improvements)-
** F318-Fire Station #2 Referendum Bonds ‘06 248,488
Total Debt Service 3,451,512
Total $ 18,857,710