HomeMy WebLinkAbout24-105 Resolution Adopting 2025 City Budget and Certifying Preliminary 2025 City of Prior Lake Property Tax
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 24-105 A RESOLUTION ADOPTING 2025 CITY BUDGETS AND CERTIFYING PRELIMINARY 2025 CITY OF PRIOR LAKE PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: Burkart Second By: Braid 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 2025 are estimated as follows; and
General Fund $ 22,026,885 Debt Service Funds 5,185,248 Cable Fund 3,700 Capital Park Fund 2,505,600
Revolving Equipment Fund 1,074,200 Revolving Park Equipment Fund 1,950,000 Permanent Improvement Revolving Fund 369,736 Facilities Management Fund 762,500 Water Fund 5,622,768 Sewer Fund 5,436,944
Water Quality Fund 2,334,004
Total $ 47,271,585
WHEREAS, The proposed property tax levy for the City of Prior Lake for payable year 2025 is
as follows; and
General Purposes $ 15,014,949 Revolving Equipment Fund 875,000
Revolving Park Equipment Fund 535,000 Permanent Improvement Revolving Fund - Facilities Management Fund 255,000 Debt Service 3,341,678
Total $ 20,021,627
WHEREAS,
The proposed City of Prior Lake property tax levy for the year payable 2025 of $20,021,627 represents a $1,306,337 or 6.98% increase; and
The City Council will consider the 2025 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 2025 Property Tax Levy during its regularly scheduled council meeting at 7:00 p.m. on Tuesday December 10, 2024 at 4646 Dakota Street SE, Prior Lake with a continuation (if necessary) at 7:00 p.m. on December 26, 2024.
M:\2- City Clerk\City Council\Resolutions\2024\24-105 Resolution.docx 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 2025:
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 24th day of September 2024. VOTE Briggs Braid Burkart Churchill Lake
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager
Purpose Amount Amount * General City Purposes 15,014,949
* Revolving Equipment Fund 875,000 * Revolving Park Equipment Fund (Park Equipment & Trail
Replacement)
535,000
* Permanent Improvement Revolving Fund (Street Overlay) -
* Facilities Management Fund 255,000 Debt Service:
* F410 Revolving Equipment Fund Tax Levy in Advance 150,000 * F562-Guaranteed Energy Savings Program 110,305
* F563-G.O. Imp Bonds 2015B (150th/13) 610,359 * F565, 566, 567-G.O. Imp Bonds 2016A (Manitou) 68,401
* F566-G.O. Imp Bonds 2016A (150th/13) 38,325 * F568-G.O. Imp Bonds 2017A (Cates, Balsam, Franklin, Sycamore) 264,529
* F570-G.O. Imp Bonds 2018A (Equip, CIP, Imp, Street Recon) 479,829 *
* *
*
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)
206,157
267,229 722,138
161,918
** F318-Fire Station #2 Referendum Bonds ‘06 262,488
Total Debt Service 3,341,678
Total $ 20,021,627