5.2. SR 12-19-1994
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ITEM 5.2.
MEMORANDUM
FROM:
Mayor & City Council
Pat Klaers, City Adminif5atW~ }
December 19, 1994 (f'
DATE:
SUBJECT: Budget and Tax Levy
In September, the City Council adopted its proposed maximum budget and
tax levy resolution. A public hearing was held on December 5 and on
December 12 in order to receive public input on the proposed budget and tax
levy for 1995.
The budget is proposed in the amount of $3,732,250. This is a 9.94% or
$337,500 increase over the adopted 1994 budget. Almost all of this increase
is related to personnel issues.
.
The net tax levy for 1995 is proposed in the amount of $2,223,347. The
proposed net levy is $478,499 more than the adopted 1994 net levy. Almost
all of this net levy increase is for the general fund budget and for the surface
water management program.
Attached for your consideration is the resolution that approves the budget
and tax levy.
council: bdgtlevy
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13065 Orono Parkway · P.O. Box 490. Elk River, MN 55330. (612) 441-7420. Fax: (612) 441-7425
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RESOLUTION 94 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE PROPOSED TAX LEVY FOR
CALENDAR YEAR 1995
WHEREAS,
the Elk River City Council has reviewed the City's anticipated
expenditures for all funds in 1995; and,
WHEREAS,
the Elk River City Council has considered projected revenues for
all funds in 1995; and,
WHEREAS,
revenues from sources other than property taxes are not sufficient
to meet anticipated expenditures of all funds.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River that the proposed General Fund Budget in the amount of
$3,732,250 is hereby adopted.
BE IT FURTHER RESOLVED by the City Council of the City of Elk River that
the following amounts be levied as property taxes payable in 1995.
.
General Fund
Library
Dam Loan
1977 G.O. Refunding
Surface Water Management
City Special Assessments
1989 Fire Equipment
1991 Certificate of Indebtedness
1992 Certificate of Indebtedness
1993 Certificate of Indebtedness
1994 Certificate ofIndebtedness
1995 Certificate of Indebtedness
TOTAL
Gross Levy
$2,286,082
50,600
32,572
29,300
210,000
38,331
69,747
18,822
23,437
24,853
25,000
29,000
$2,837,744
HACA Reduction
$494,957
10,955
7,052
6,344
45,467
8,299
15,101
4,075
5,074
5,381
5,413
6,279
$614,397
Net Levy
$1,791,125
39,645
25,520
22,956
164,533
30,032
54,646
14,747
18,363
19,472
19,587
22,721
$2,223,347
Passed and adopted by the City Council of the City of Elk River this _ day of
December, 1994.
Henry A. Duitsman, Mayor
ATTEST:
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Sandra A. Thackeray, City Clerk