CR 91-267 1992 BudgetNovember 27, 1991
Ov rview.
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APPROVE 1991 TAX LEVY AND
ADOPT THE 1992 BUDGET
Proposed Action.
Staff recommends adoption of the following motion: Move that
Resolution # 91 -148 "Approving 1991 Tax Levy, Collectible in 1992, and
Adopting the 1992 Budget ", be adopted.
Adoption of this resolution will enable compliance with the "Truth and
Taxation" law enacted by the Minnesota legislature for levy year 1990.
The legislation set many deadlines for specific action by the Council.
The City Council has met all deadlines to date. The levy and adoption
of a budget may not occur later than December 30, 1991. The final
levy for operations may not exceed the proposed maximum levy of
$4,210,092 adopted in Resolution 91 -106 on August 20, 1991.
Primary Issues To Consider.
o What are the components of levy - General Fund and Debt Service?
o How will current actions relate to future financing?
Supporting Information.
o General Fund - 1992 Budget Overview.
o General Fund - Revenues and Expenditures.
o Resolution 91 -148.
hn E. Schedler, Finance Director
Council Report #91 -267
Fund Balance 1 -1 -91
Expenditures
Revenues
Net Change
Projected Fund Balance 12 -31 -91
Expenditures
Revenues
Use of Fund Balance
Fund Balance 12 -31 -92
GENERAL FUND
1992 BUDGET OVERVIEW
REVISED
1991 BUDGET
$ 5,617,300
$ 5,383,800
$ (233, 500)
General Fund
Levy/ Tax
Payable Tax Capacity Tax
Years Capacity Rate Levy
1991/92 16,274,794 20.00 3,795,792
1990/91 16,792,000 20.41 3,426,000
1989/90 16,476, 846 19.23 3,168,171
1988/89 18, 910, 000 13.98 2,643,745
1987/88 17,690,000 15.95 2,821,000
1986/87 17,194,415 15.45 2,657,300
1985/86 16,307,510 14.75 2,406,000
1984/85 15, 964, 540 . 13.75 2,194, 470
1983/84 _14,372,560 15.15 2,177,425
1982/83 13,952, 670 14.96 2,087,095
$ 3,435,292
1991 PROJECTED
$ 5,548,300
$ 5,233,000
$ (315,300) $ (315,300)
PROPOSED ADOPTED
1992 BUDGET 1992 BUDGET
$ 5,817,000 $
$ 5,817,000 $
$ 3,119, 992
$ 3,119,992
Debt Tax
Levy Levy
863,700 4,659,492
1,082,400 4,509,000
445,000 3,613,171
294,945 2,938,690
Total City
Tax
Capacity
Rate
24.56
22.73
21.93
15.68
SOURCE
Current Revenues
Current Property Tax
Intergovernmental Revenue
License, Permits, & Fines
Use of Money & Property
Charges for Current Services
Other Revenue
Non Revenue Receipts
TOTAL CURRENT REVENUES
Other Financing Sources
TOTAL
OBJECTIVE
Current Expenses
Personal Services
Other Services and Charges
Supplies
Capital Outlays
TOTAL CURRENT EXPENSES
Other Financing Uses
TOTAL
REVENUES - GENERAL FUND
COMPARATIVE ANALYSIS BY SOURCE
1990
ACTUAL
2,500,642 $
1,695,483
343,322
554,581
39,364
255,662
97,282
$ 5,486,336 $
150,078
$ 5,636,414 $
EXPENDITURES - GENERAL FUND
COMPARATIVE ANALYSIS BY OBJECTIVE
1990
ACTUAL
$ 3,731,844 $
1,150,618
327,571
47,783
$ 5,257,816 $
429,638
$ 5,687,454 $
6
1991 BUDGET MANAGERS
REVISED PROPOSED ADOPTED
2,893,300 $
1,499,700
362,000
329,400
34,000
259,500
5,900
5,383,800 $
5,383,800 $
4,012,300 $
1,211,100
332,900
52,500
5,608,800 $
8,500
5,617,300 $
1992 BUDGET
3,117,800 $
1,632,000
356,500
366,200
36,500
275,000
33,000
5,817,000 $
5,817,000 $
1991 BUDGET MANAGERS
1992 BUDGET
REVISED PROPOSED ADOPTED
4,073,900 $
1,307,000
368,400
56,900
5,806,200 $
10,800
5,817,000 $
This levy is made based on
$5,817,000.
ATTEST:
*Levy
James A. Genellie, City Clerk
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 91 -148
A RESOLUTION APPROVING 1991 TAX LEVY
COLLECTIBLE IN 1992 AND ADOPTING THE 1992 BUDGET
BE IT RESOLVED BY THE COUNCIL OF THE CITY
sums of money be levied for the current
property in said City of Hopkins, for the
General Fund
General Obligation Bonds
current la
has been made for the payment
Public Employees Retirement Association.
Provision has also been made for the payment of principal and interest on the
following bond issues:
Redevelopment Bonds 5 -1 -88
G.O. Sewer Revenue Bonds 12 -1 -89
Redevelopment Bonds 12 -1 -89
Park Bonds 3 -1 -90*
OF HOPKINS, MINNESOTA, that the following
year collectible in 1992 upon the taxable
following purposes.
aw and the 1992 General Fund Budget of
of the City's contributory share to the
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 a regular meeting of the
Council held this 3rd day of December, 1991.
By
$3,795,792
414,300
Special Assessment Bonds 3 -1 -90*
Redevelopment Bonds 3 -1 -90
Refunding Bonds 3 -1 -90
Redevelopment Bonds 5 -22 -91
Nelson W. Berg, Mayor