HomeMy WebLinkAbout[06b] 2018 Proposed Final Budget
Council Agenda Item 6b
MEETING DATE: November 20, 2017
AGENDA ITEM: 2018 Proposed Final Budget
SUBMITTED BY: Administration/Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: Boards and Commissions
presented their 2018 budget requests to the city council in summer 2018.
PREVIOUS COUNCIL ACTION: Council adopted the preliminary 2018 budget/levy on August 21,
2017. Council reviewed the draft enterprise budget in October 2017. The capital plans were reviewed the
past couple months. Council agreed to issuing an equipment certificate in 2018 to help fund needed
general capital equipment.
BACKGROUND INFORMATION:
Stearns County informed the City the preliminary tax rate and market value in October. The Net Tax
Capacity was slightly better than shown when the preliminary levy was adopted. The NTC increased
5.34%, with the levy up $188,675, the tax capacity rate is estimated to be 61.38% (2.29% increase).
Below is a chart of the area jurisdictions. No big changes are planned before the final budgets/levies are
set per the area cities.
Preliminary 2017 Final 2018 Est.
Jurisdiction Final 2017 Levy 2018 Levy Tax Rate Tax Rate
City of St. Joseph $2,002,920 $2,191,595 59.09% 61.38%
Stearns County $74,003,595 $77,540,790 52.16% 52.16%
Independent School
District 742 – St. Cloud
Schools $31,000,599 $30,273,002 30.51% 28.29%
Sauk River Watershed
District Unknown Unknown 0.91% 0.84%
City of Sauk Rapids $3,552,000 $3,805,900 46.61% 47.40%
City of Sartell $5,895,999 $6,313,935 40.81% 41.30%
City of St. Cloud $24,132,400 $25,061,100 47.75% 47.75%
City of Waite Park $7,075,513 $7,416,017 71.91% 72.67%
BUDGET/FISCAL IMPACT: $3,157,760 2018 general fund budget
$1,334,305 2018 operating levy
$857,290 2018 debt levy
ATTACHMENTS: Request for Council Action– 2018 General Budget/Levy
2018 Net Tax Capacity
REQUESTED COUNCIL ACTION: If the Council is accepting of the preliminary budget/levy, the
numbers will be presented at the truth in taxation public hearing for the final budget on December 4,
2017.
City of St. Joseph, Minnesota
2018 Net Tax Capacity
PRELIMINARY as of November 20, 2017
Net Tax Capacity 3,570,5593,389,637(Sept estimate $3,559,119)
20172018
2018 Levy Limitn/a1.41%5.34%(Stearns County Prelim)
Estimated Tax Impact of the Preliminary 2018 Budget
Adopted 2017Preliminary 2018Tax RateNTC
LevyLevyChange GF levy
General Fund Levy1,122,485 33.115%1,282,660 35.923%2.808%$160,415
Country Manor's Abate - EDA- 0.000%18,0000.504%0.504%
EDA levy
EDA Levy93,920 2.771%96,325 2.698%-0.073%
Park Dedication Fund20,000 0.590%20,000 0.560%-0.030%$20,405
General Equip Fund77,080 2.274%77,320 2.165%-0.109%
sales tax abatement(162,000) -4.78%(160,000) -4.481%0.298%
Bond 200990,000 2.655%57,000 1.596%-1.059%17 to 18
Bond 201031,000 0.915%41,000 1.148%0.234%debt levy
Bond 2011105,935 3.125%93,790 2.627%-0.499%$7,855
Bond 201367,000 1.977%67,000 1.876%-0.100%
Bond 2014103,500 3.053%102,500 2.871%-0.183%
Bond 2015224,000 6.608%212,000 5.937%-0.671%
Bond 2016230,000 6.785%275,000 7.702%0.916%
Bond 2017- 0.000%9,000 0.252%0.252%
2,191,5952,002,920-0.811%
59.090%61.380%debt levy
Operational Levy % change 17 to 1813.77%Tax Cap. Chg2.290%Tax Cap. /ŷŭ
Operational Levy $ change 17 to 18180,820$levy change$188,675
Debt Levy % change 17 to 181.14%levy % change 9.42%
Debt Levy $ change 17 to 187,855$ mill rate
2018 Net Tax2018 Tax
Impact Analysis2017 NTC2017 TaxCapacityImpact
150,000 Homestead1263746.30 1,263 775.22
Increase in taxes3.88%28.92 5%
200,000 Homestead18081,068.34 1,808 1,109.74
Increase in taxes3.88%41.40 5%
250,000 Homestead23531,390.38 2,353 1,444.26
Increase in taxes3.88%53.89 5%
500,000 Business 5,465.789,250 9,250 5,677.61
Increase in taxes3.88%211.83 5%
1,000,000 Business 11,374.7319,250 19,250 11,815.57
Increase in taxes3.88%440.84 5%
$1 M 20 Unit Apt. 7,386.1912,500 12,500 7,672.45
Increase in taxes3.88%286.26 5%
Tax Capacity rate change by 1%$35,000