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Home My WebLink About[07] 2012 Draft Two General BudgetCouncil Agenda Item 7 CrP1 OF NT. JOSEEPH MEETING DATE: September 1, 2011 AGENDA ITEM: 2012 Draft Two General Budget SUBMITTED BY: Finance BOARD /COMMISSION /COMMITTEE RECOMMENDATION: The Fire Board and EDA met to discuss their 2012 budgets. EDA met in August to reduce their budget requests by $11,000. The Boards' recommendations are included in the general operations budget. PREVIOUS COUNCIL ACTION: Council reviewed the 5 -year capital improvement plan for 2012 — 2016 on August 4`h. The general equipment CIP is included in the operations budget under the 500 object codes. Council received the first draft of the operations budget on August 18, 2011. In addition, Council provided staff with overall budget goals and objectives at a previous Council workshop. The Council discussed the capital projects included in the draft budget and requested that staff review the proposed budget and forward a revised copy funding those projects that will be anticipated to be completed in 2012. BACKGROUND INFORMATION Adjustments to the general budget since the August 18, 2011 council meeting include: - Fund City Hall repairs and Police garage remodel under CIP bond funding — $47,000 reduction - County seal coating funded by an assessment payoff - $25,000 reduction - Staff change reduced budget by $13,620 - Advertising budget increased by $5,000 The area cities are setting their preliminary budgets without knowing the impact of the properties devaluation and incorporating the new State law for the Market Value Homestead exclusion which will reduce taxable market values for homesteaded properties. The cities are opting to set their preliminary budgets with slight or no increases and waiting for the counties to provide the market values in November before making further budget adjustments. St. Joseph may consider this option also. BUDGET /FISCAL IMPACT: $ 2,440,925 general fund budget 52.485% tax rate estimate 1,310,570 operating levy 502,920 debt levy ATTACHMENTS: Request for Council Action ................................. ..................................... 7:1 -2 2012 Summary Preliminary budget ........................... ............................7:3 2012 Draft Tax Impact .................................................. ............................7:4 7:1 REQUESTED COUNCIL ACTION: Discussion on preliminary budget * * ** Please bring your budget book from the last meeting with you. The Fire Chief will also be at this meeting to discuss the fire truck. 7 :2 2012 Summary Preliminary Budget As of September 1, 2011 Total 2012 Preliminary Budget Operational Budget 2,284,155 Capital Outlay 156,770 2012 Proposed Budget 2,440,925 2011 Adopted Budget 2,419,410 Increase (Decrease) 21,515 «., Police Department Operational Budget 898,830 Capital Outlay 5,270 2012 Proposed Budget 904,100 2011 Adopted Budget 922,835 Requested Capital Funding Light Bar 500.00 Squad Camera 770.00 Emergency Siren 4,000.00 Increase (Decrease) (18,735) Capital Request 2012 5,270.00 Operational Budget 726,915 Original Capital Request 22,645.00 Capital Outlay 5,000 Increase(Decrease) (17 2012 Proposed Budget 731,915 (website) Public Works 735,430 Requested Capital Funding Operational Budget 615,185 Seal Coating 85,000.00 Capital Outlay 102,500 Signs 3,000.00 2012 Proposed Budget 717,685 Ztrack Mower 4,000.00 2011 Adopted Budget 677,155 Park Improvements 6,000.00 Increase (Decrease) 40,530 Loader w /wing 4,500.00 Capital Request 2012 102,500.00 Original Capital Request 225,250.00 In crease (Decrease) (12 Administration (Includes Fire Funding) Requested Capitol Funding Operational Budget 726,915 Elections 3,000.00 Capital Outlay 5,000 Computer 2,000.00 2012 Proposed Budget 731,915 (website) 2011 Adopted Budget' � 735,430 Increase (Decrease) (3,515) Capital Request 2012 5,000.00 Original Capital Request 11,500.00 Increase(Decrease) (6,500.00) EDA Requested Capital Funding Operational Budget 43,225 Let's Go Downtown 15,000.00 Capital Outlay 44,000 Business Dev/TIF 10,000.00 2012 Proposed Budget 87,225 Producer /Processor 2,500.00 2011 Adopted Budget 83,990 Business Demolition 6,000.00 Increase(Decrease) 3,235 BFA Grant 8,000.00 Rental Conversion 2,500.00 CSAH 2/3 Collection - Capital Request 2012 44,000.00 Original Capital Request 56,000.00 Increase(Decrease) (1 ' ° Removed EDA funding transfer (budgeted directly w /EDA levy) and LGA reseve for future cuts 7:3 City of St. Joseph, Minnesota 2012 Net Tax Capacity Draft Two presented September 1, 2011 Estimated Net Tax Capacity 3,679,317 3,550,541 2011 2012 -1.61% est. a 3.5% .l (per Stearns Coun Estimated Tax Impact of the Proposed 2012 Budget 36.5% city tax of total tax bill for 2011 MVHC allocation Adopted 2011 Draft Two 2012 Impact Analysis 2011 NTC 2011 Tax Levy 1000 Levy 718 General Fund Levy 1,212,695 32.960% 1,310,570 36.912% Cobom's Abatement 50,000 1.359% 50,000 1.408% Special Levy - PERA 38,835 1.055% - 0.000% (63.75) - 0.000% 968.84 0.000% Bond 2003 32,500 0.883% - 0.000% Bond 2005 111,000 3.017% 110,000 3.098% Bond 2006 61,000 1.658% 56,000 1.577% Bond 2007 28,500 0.775% 8,500 0.239% Bond 2008 67,000 1.821% 67,000 1.887% Bond 2009 137,800 3.745% 140,800 3.966% Bond 2010 43,000 1.169% 45,500 1.281% Bond 2011 - 0.000% 75,120 2.116% W/O Park Terrace 1,782,330 1,863,490 8% 576.08 1,000,000 Business 48.442% 9,325.09 52.485% Levy % change 11 to 12 4.55% mill rate chg 4.043% Levy $ change 11 to 12 $ 81,160 $1 M 20 Unit Apt. 12,500 36.5% city tax of total tax bill for 2011 MVHC allocation Net Tax Capacity Estimated Impact Impact Analysis 2011 NTC 2011 Tax 100,000 Homestead 1000 484.42 718 376.84 Increase in taxes MVHC 280.00 -22% (107.58) 150,000 Homestead 1500 726.63 1,263 662.88 Increase in taxes MVHC 237.40 -9% (63.75) 200,000 Homestead 2000 968.84 1,808 948.92 Increase in taxes MVHC 180.00 -2% (19.92) 250,000 Homestead 2500 1,211.05 2,353 1,234.96 Increase in taxes MVHC 147.40 2% 23.91 250,000 Business 4,250 2,058.79 4,250 2,230.60 Increase in taxes 8% 171.81 500,000 Business 9,250 4,480.89 9,250 4,854.83 Increase in taxes 8% 373.95 750,000 Business 14,250 6,902.99 14,250 7,479.07 Increase in taxes 8% 576.08 1,000,000 Business 19,250 9,325.09 19,250 10,103.30 Increase in taxes 8% 778.22 $1 M 20 Unit Apt. 12,500 6,055.25 12,500 6,560.58 Increase in taxes 8% 505.33 7:4