File #: Res. 2018-094    Version: 1 Name:
Type: Resolution Status: Passed
File created: 4/24/2018 In control: City Council
On agenda: 9/18/2018 Final action: 9/18/2018
Title: Consideration of a Preliminary General Fund Budget and Establishing a Date and Time for the Public Hearing.
Attachments: 1. 1 - Res 2018 for 2019 Preliminary Budget 4.pdf, 2. 2 - Res 2018 for 2019 Preliminary Budget 6.pdf, 3. 3 - Res 2018 for 2019 Preliminary Budget 7.pdf, 4. 4 - Res 2018 for 2019 Preliminary Budget 8.pdf, 5. 5 - Res 2018 for 2019 Preliminary Budget 9.pdf

City Council Meeting Date:                     September 18, 2018

 

To:                                          Mayor and City Council

                                          

From:                                          Ben Martig, City Administrator

Brenda Angelstad, Finance Director

 

Title

Consideration of a Preliminary General Fund Budget and Establishing a Date and Time for the Public Hearing.

 

Body

Action Requested:                     

Staff recommends approval of one of the attached Resolutions adopting a proposed 2019 General Fund Budget corresponding to levy increases ranging from 4.9% to 9.86% and setting the date and time for the Public Hearing.

 

Summary Report:

On August 6, the City Council had a budget work session and reviewed the preliminary budgets and preliminary levy increase.  The discussion continued at the September 11th work session. Staff presented a preliminary property tax levy increase of 4.9% as the baseline and discussed projects department wide. 

 

The attached budgets reflect the preliminary revenues and expenditures for the general fund, each corresponding with the property tax levies, ranging from a 4.9% to 9.86% levy increase.  The resolution also establishes the time and date for our public hearing for December 4th at 6:00 pm.  The hearing is required by State statute and the City has coordinated the hearings with Rice County.

 

Alternative Options:

•                     Consider alternative resolution (Attachment 1) corresponding to a 4.9% preliminary property tax levy increase.

•                     Consider alternative resolution (Attachment 2) corresponding to a 6.0% preliminary property tax levy increase.

•                     Consider alternative resolution (Attachment 3) corresponding to a 7.0% preliminary property tax levy increase.

•                     Consider alternative resolution (Attachment 4) corresponding to an 8.85% preliminary property tax levy increase.

•                     Consider alternative resolution (Attachment 5) corresponding to a 9.86% preliminary property tax levy increase.

 

Financial Impacts:                     

The attached resolution provides the summary budget information for the recommended and alternate budgets.

 

Tentative Timelines:                     

The City must submit the resolution including the public meeting time to the County by September 30, 2018.