CR 05-161 The 2006 Tax Levy & General Fund Budget
December 20, 2005
Council Report 2005-161
THE 2006 TAX LEVY AND GENERAL FUND BUDGET
Proposed Action
Staff recommends adoption ofthe following motion: Move to Adopt Resolution 2005-119
approving the 2006 tax levv and adopting the 2006 General Fund budget.
Adoption of this motion will result in the staff forwarding the appropriate documentation to
Hennepin County for completion of the property taxes for 2006 and will approve the 2006
General Fund budget.
Overview
The City Council and staff have held a number of meetings during 2005 to prepare for the 2006
general fund budget and 2006 tax levy. In addition we provided an opportunity for the public to
offer input on the 2006 budget through the Truth-in-Taxation hearing held on December 5,2005.
Budget goals were adopted this spring and were instrumental in guiding the staff as it prepared
budget requests. During 2005 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 2006 budget.
The budget in its current form recommends spending in the general fund at $8,888,288 and a
total tax levy of$8,438,078. The levy includes provisions for general fund operations, PERA
contributions, HRA levy, capital funding, and debt obligations.
Staff is recommending that the council adopt the resolution approving the tax levy for 2006 and
setting the 2006 general fund budget.
Primary Issues to Consider
. The state mandates certification of the 2006 levy to the County Auditor no later than
December 28, 2005
Supporting Information
. Resolution 2005-119
. 2006 General Fund Budget
~v~
Christine M Harkess, CPA, CGFM
Finance Director
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 05-119
RESOLUTION APPROVING 2006 TAX LEVY
AND ADOPTING THE 2006 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 current year collectible in 2006 upon the taxable property in the City of Hopkins, for the
following purposes.
General Fund
PERA Rate Increase
Capital Levy
HRA Levy
General Obligation Bonds
Improvement Bonds
HRA Lease Revenue Bonds
Total Levy
$ 7,164,263
$ 11,815
$ 25,000
$ 20,000
$ 180,000
$ 147,000
$ 890.000
$ 8,438,078
This levy is made based on current law and the 2006 General Fund Budget of $8,888,288.
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 10-15-93 & 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
Housing Bonds 5-1-99 Taxable GO Housing Improvement Bonds
Housing Bonds 8-1-99 GO Storm Sewer Bonds
GO Housing Improvement Bonds 4-1-00 Water Revenue Bonds
GO Improvement Revolving Bonds 10-1-02 GO Improvement Revolving Bonds
Redevelopment Bonds 10-1-02 HRA Lease Revenue Bonds
HRA Lease Revenue Bonds 6-1-03 GO Storm Sewer Revenue Bonds
9-1-95
6-1-97
8-1-99
8-1-99
10-1-02
6-1-03
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 Hennepin County, Minnesota.
Adopted by the City Council of the City of Hopkins at the levy adoption presentation of the Council held this 20th
day of December, 2005.
ATTEST:
Terry Obermaier, City Clerk
Eugene Maxwell, Mayor
CITY OF HOPKINS
REVISED 2006 GENERAL FUND BUDGET
2005 2005 2006 %
Budget Est Actual Budget Incr/(Decr)
Revenues
Property Taxes $ 6,423,919 $ 6,478,099 $ 6,312,098 -1.74%
Intergovernmental Revenue $ 1,228,669 $ 1,212,624 $ 1,310,890 6.69%
Licenses, Permits & Fees $ 627,975 $ 551,316 $ 639,400 1.82%
Charges for Service $ 219,350 $ 175,700 $ 200,750 -8.48%
Miscellaneous Revenue $ 311,851 $ 303,700 $ 315,150 1.06%
Interest Earnings $ 110,000 $ 95,000 $ 110,000 0.00%
ITotal Revenues $ 8,921,764 $ 8,816,439 $ 8,888,288 -0.38%1
Expenditures
City Council $ 97,313 $ 87,508 $ 97,327 0.01%
Administrative Services $ 392,088 $ 307,819 $ 387,665 -1.13%
Finance $ 156,828 $ 144,267 $ 156,583 -0.16%
Legal $ 136,480 $ 112,274 $ 126,600 -7.24%
Municipal Building $ 123,826 $ 108,630 $ 173,293 39.95%
Activity Center $ 276,719 $ 252,318 $ 293,721 6.14%
Receptionist $ 45,754 $ 43,727 $ 45,733 -0.05%
Assessing $ 151,475 $ 147,694 $ 151,231 -0.16%
Inspections $ 527,616 $ 480,572 $ 530,375 0.52%
City Clerk $ 48,760 $ 45,323 $ 62,844 28.88%
Elections $ 22,502 $ 19,666 $ 35,376 57.21%
Police $ 3,584,766 $ 3,571,327 $ 3,794,863 5.86%
Fire $ 616,069 $ 607,021 $ 656,047 6.49%
Emergency Preparedness $ 5,110 $ 6,960 $ 5,290 3.52%
Public Works $ 1,875,702 $ 1,677,696 $ 1,876,853 0.06%
Recreation $ 204,685 $ 200,954 $ 215,555 5.31%
Planning & Zoning $ 89,071 $ 76,593 $ 95,659 7.40%
Other Financing Uses $ 567,000 $ 531,103 $ 183,273 -67.68%
IGrand Total Expenditures $ 8,921,764 $ 8,421,452 $ 8,888,288 -0.38%1