CR 2000-204 Adoptin of The 2001 Budget and 2000/2001 Tax Levy
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December 19, 2000 ~ Council Report 00-204
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ADOPTION OF THE 2001 BUDGET AND 2000/2001 TAX LEVY
Proposed Action
Staff recommends adoption of the following motion: Move to approve Resolution 00-89
adopting the 2001 budget and the 2000 tax levy collectible in 2001.
Adoption of this motion will result in the staff forwarding the appropriate documentation
to HelUlepin County for completion of property taxes collectible in 2001.
Overview
The City Council and staff have held a variety of meetings during 2000 to prepare for the
200] budget and the 2000/2001 tax levy. Budget Goals were adopted this spring and were
instrumental in guiding the staff as it prepared budget requests. The council adopted other
financial plans, i.e. the Capital Improvement Plan and the Equipment Replacement Plan.
These tools and a series of program and budget discussions have brought the city to a point
of final decision making.
. The budget in its' current form recommends spending in the general fund at $7,440,084 and
a tax levy of $6,003,993.
At the writing of this report, the official budget hearing has been held. It is likely that
additional changes will not occur prior to final adoption. Staff is recommending that the
council adopt the resolution setting the budget and tax levy for 200].
Primary Issues to Consider
. What alternatives does the City Council have?
The council could consider extending the budget deliberations for additional information.
The council must adopt a budget and tax levy before December 20,2000.
Supportine; Information
. Resolution 00-89
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Lori K Yager J
Finance Director
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CITY OF HOPKINS
. HENNEPIN COUNTY, MINNESOTA
RESOLUTION 00-89
RESOLUTION APPROVING THE 2000 TAX LEVY
COLLECTIBLE IN 2001 AND ADOPTING THE 2001 BUDGET
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA, that the
following sums of money be levied for the current year collectib]e in 2001 upon the taxable property in
said City of Hopkins, for the following purposes.
Proposed
General Fund $5,661,993
Special Revenue Fund $ 342,000
Total Levy $6,003,993
This levy is made based on current law and the 2000 Genera] Fund Budget of $7,740,084.
Provision has been made for the payment of the City's contributory share to the Public Emp]oyees
Retirement Association.
Provision has also been made for the payment of principal and interest on the following bond issues:
Redeve]opment Bonds 1-1-97 Improvement Revolving Bonds 3-1-90 G.O.
. G.O. Sewer Revenue Bonds 12-1-89 & Refunded 10-15-93 Redevelopment Bonds 10-1-96
Redeve]opment Bonds 12-1-89 & Refunded] 0-15-93 Refunding Bonds (Taxable) 2-1-92
Park Bonds 3-1-90* & Refunded 10-15-93 Improvement Revo]ving Bonds 8- I -92
Refunding Bonds 3-1-90 & Refunded 10-15-93 Housing Bonds 9-1-95
Housing Bonds 6- I -97 Taxable G.O. Housing Imprv. Bonds 5-1-99
Taxable G.O. Housing Improvement Bonds 8-1-99 G.O. Stann Sewer Revenue Bonds 8-]-99
G.O. Improvement Revolving Bonds 8- 1-99 G.O. Water Revenue Bonds 4- ] -00
BE IT FURTHER RESOLVED, that the City Clerk is hereby ordered and directed to transmit a
certified copy ofthis resolution to the County Auditor of Hennepin County, Minnesota.
Adopted by the City Council of the City of Hopkins at the levy adoption hearing of the Council held this
19th day of December, 2000.
Eugene Maxwell, Mayor
ATTEST:
. Terry Obermaier, City Clerk