HomeMy WebLinkAbout23-150 Resolution Approving Final 2024 City Budgets and Property Tax Levy
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 23-150 A RESOLUTION ADOPTING 2024 CITY BUDGETS AND CERTIFYING FINAL 2024 CITY OF PRIOR LAKE PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: BRAID Second By: CHURCHILL
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, final budget amounts for the City of Prior Lake for calendar year 2024 are estimated as follows; and
General Fund $ 21,046,603 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 6,104,965 Sewer Fund 5,920,801 Water Quality Fund 2,496,100
Total $ 49,558,902
WHEREAS, the proposed property tax levy for the City of Prior Lake for payable year 2024 is as follows; and
General Purposes $ 13,798,778 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 $ 18,715,290
the proposed City of Prior Lake property tax levy for the year payable 2024 of $18,715,290 represents a $1,851,334 or 10.97% 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 18, 2023.
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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 4th day of December 2023. VOTE Briggs Braid Burkart Churchill Lake
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager
Purpose Amount Amount
* General City Purposes 13,798,778 * 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 $ 18,715,290