CR 04-193 Tax Levy and 2005 General Fund Budget
G\IY OF
December 14, 2004 ~ Council Report 04-193
e HOPK\NS
THE 2004/2005 TAX LEVY AND THE 2005 GENERAL FUND BUDGET
Proposed Action
Staff recommends adoption of the following motion: Move to Adopt Resolution 04-92 approving
the 2004 tax levy collectible in 2005 and adopting the 2005 General Fund budget.
Adoption of this m060n will result in the staff forwarding the appropriate documentation to
Hennepin County for completion of the property taxes for 2005 and will approve the 2005
General Fund budget.
Overview
The City Council and staff have held a variety of meetings during 2004 to prepare for the 2005
general fund budget and 2005 tax levy. In addition we provided two opportunities for the public
to offer input on the 2005 budget; a public community meeting held on November 16, 2004 and
the Truth-in-Taxation hearing held on December 13, 2004.
Budget goals were adopted this spring and were instrumental in guiding the staff as it prepared
. budget requests. During 2004 the council adopted other financial plans, the Capital Improvement
Plan and the Equipment Replacement Plan, that along with a series of program and budget
discussions were instrumental in the development of the 2005 budget.
The budget in its current fonn recommends spending in the general fund at $8,921,764 and a
total tax levy of $8,120,078. The levy includes provisions for general fund operations, PERA
contributions, HRA levy, capital funding, the new facility debt and other debt obligations.
Staff is recommending that the council adopt the resolution approving the tax levy for 2005 and
setting the 2005 general fund budget.
Primary Issues to Consider
. The state mandates certification of the 2005 levy to the County Auditor no later than
December 28, 2004
Supportin2 Information
. Resolution 04-92
. 2005 General Fund Budget
1
. (. ;{~1i!4idC:" /,/? ~;f;;4-:J--'
Christine M Harkess, CPA, CGFM
Finance Director
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CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
. RESOLUTION 04-092
RESOLUTION APPROVING 2004 TAX LEVY COLLECTIBLE IN 2005
AND ADOPTING TIlE 2005 GENERAL FUND BUDGET
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA, that the following sums of
money be levied for the cunent year collectible in 2005 upon the taxable propelty in the City of Hopkins, for the following
purposes.
General Fund $ 7,261,263
PERA Rate Increase $ 11,815
Capital Levy $ 25,000
HRA Levy $ 10,000
General Obligation Bonds $ 190,000
Improvement Bonds $ 147,000
HRA Lease Revenue Bonds $ 475,000
Total Levy $ 8,120,078
This levy is made based on cunent law and the 2005 General Fund Budget of$8,921,764.
Provision has been made for the payment of the City's contributory share to the Public Employees Retirement Association.
Provision has also been made for the payment of principal an interest n the following bond issues:
. 1-1-97 Redevelopment Bonds 10-1-96 Redevelopment Bonds
12-1-89 Sewer Revenue Bonds 2-1-92 Taxable Refunding Bonds
Refunded 10-15 - 9 3 & 12 -4-01 12-1-89 Redevelopment Bonds
8-1-92 Improvement Revolving Bonds Refunded 10-15-93
Refunded 12-4-01 3-1-90 Park Bonds Refunded 10-15-93 & 12-4-01
9~1-95 Housing Bonds 5-1-99 Taxable GO Housing Improvement Bonds
6-1-97 Housing Bonds 8-1-99 GO Stann Sewer Bonds
8-1-99 GO Housing Improvement Bonds 4-1-00 Water Revenue Bonds
8-1-99 GO Improvement Revolving Bonds 10-1-02 GO Improvement Revolving Bonds
10- I -02 Redevelopment Bonds 10-1-02 HRA Lease Revenue Bonds
6-1-03 HRA Lease Revenue Bonds 6-1-03 GO Storm Sewer Revenue Bonds
Bold ~ Included in Levy
BE IT FURTHER RESOLVED, that the City Clerk is hereby ordered and directed to transmit a certified copy of this
resolution to the County Auditor of Henllepin County, Mim1esota,
Adopted by the City Council of the City of Hopkins at the levy adoption presentation of the Council held this 21st day of
December, 2004,
Eugene Maxwell, Mayor
A TrEST:
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Terry Obermaier, City Clerk
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Revised 12/10/2004
CITY OF HOPKINS
. GENERAL FUND BUDGET
2002 2003 2004 2004 2005 Budget %
Revenues Actual Actual Budget Est Actual Budget Incr/(Decr)
Property Taxes $ 5,799,31 0 $ 5,932,258 $ 6,666,136 $ 6,600,000 $ 7,273,078 9,10%
Intergovernmental Revenue $1,521,976 $ 1,094,005 $ 386,010 $ 386,010 $ 379,510 -1.68%
Licenses, Permits & Fees $ 583,666 $ 773,530 $ 623,575 $ 628,366 $ 627,975 0,71%
Charges for Service $ 260,162 $ 333,140 $ 215,950 $ 218,134 $ 219,350 1.57%
Miscellaneous Revenue $ 116,211 $ 9,728 $ 281,950 $ 263,000 $ 311,851 10.61%
Interest Earnings $ 50,859 $ 114,953 $ 100,000 $ 100,000 $ 110,000 10.00%
Total Revenues $8.332,184 $8,257,614 $ 8.273,621 $ 8,195,510 $ 8,921,764 7.83%
Expenditures
City Council $ 82,964 $ 80,807 $ 97,313 $ 94,749 $ 97,313 0,00%
Administrative Services $ 366,177 $ 300,873 $ 274,495 $ 239,052 $ 392,088 42.84%
Finance $ 153,413 $ 146,941 $ 158,391 $ 135,079 $ 156,828 -0.99%
Legal $ 112,749 $ 119,871 $ 123,980 $ 132,679 $ 136,480 10.08%
Municipal Building $ 78,651 $ 77,443 $ 71,029 $ 40,888 $ 123,826 74.33%
Activity Center $ 278,033 $ 293,408 $ 273,661 $ 252,480 $ 276,719 1.12%
Receptionist $ 56,704 $ 48,732 $ 43,406 $ 45,357 $ 45,754 5.41%
Assessing $ 232,360 $ 225,623 $ 144,473 $ 161,440 $ 151,475 4.85%
Inspections $ 389,315 $ 416,536 $ 514,933 $ 476,854 $ 527,616 2.46%
. City Clerk $ 46,826 $ 50,338 $ 40,918 $ 37,311 $ 48,760 19,17%
Elections $ 31,315 $ 20,341 $ 31,835 $ 32,248 $ 22,502 -29,32%
Police $ 3,240, 168 $ 3,359,673 $ 3,511,177 $ 3,445,740 $ 3,584,766 2.10%
Fire $ 587,829 $ 604,142 $ 532,057 $ 563,177 $ 616,069 15,79%
Emergency Preparedness $ 2,774 $ 7,189 $ 5,110 $ 5,260 $ 5,110 0.00%
Public Works $1,710,243 $ 1,632,098 $ 1,766,079 $ 1,698,495 $ 1,875,702 6.21%
Recreation $ 330,557 $ 202,552 $ 198,049 $ 190,265 $ 204,685 3.35%
Planning & Zoning $ 101,435 $ 99,145 $ 78,008 $ 87,154 $ 89,071 14.18%
Unal10cated $ 72,205 $ - $ - $ - $ 0.00%
Total Expenditures $ 7,873,728 $ 7,685,712 $ 7,864,914 $ 7,638,228 $ 8,354,764 6.23%
Other Financing Uses
Capital Outlay $ 1,155 $ - $ - $ 15,000 $ - 0.00%
Transfers $ 19,192 $ 15,953 $ 294,648 $ 15,953 $ 417,000 41.52%
Total Other Financing Uses $ 20,347 $ 15,953 $ 294,648 $ 30,953 $ 417,000 41.52%
Contingency $ 20,148 $ 102,527 $ 114,058 $ 100,150 $ 150,000 31,51%
Grand Total Expenditures $ 7,914,223 $ 7,804,192 $ 8,273,620 $ 7,769.331 $ 8,921,764 7.83%
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