File #: Res. 2020-087    Version: 1 Name:
Type: Resolution Status: Passed
File created: 12/20/2019 In control: City Council
On agenda: 9/15/2020 Final action: 9/15/2020
Title: Consideration of a Preliminary General Fund Budget and Establishing a Date and Time for the Public Hearing.
Attachments: 1. 1 - 2020 Resolution 2021 Preliminary Budget 5.pdf, 2. 2 - 2020 Resolution 2021 Preliminary Budget 7.pdf, 3. 3 - 2020 Resolution 2021 Preliminary Budget 3.pdf

City Council Meeting Date:                     September 15, 2020

 

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:                     

Council approves the attached Resolution adopting a proposed 2021 General Fund Budget corresponding to a levy increase of 5.7% and setting the date and time for the Public Hearing.

 

Summary Report:

On August 18th, the City Council had a budget work session and reviewed the preliminary budgets and preliminary levy increase.  The discussion continued at the September 8th work session. Staff presented a preliminary property tax levy increase of 5.7% as the baseline and discussed projects department wide.  Staff had originally recommended a 7.7% preliminary tax levy.  Based on Council feedback, staff is amending that recommendation for action to be for a 5.7% preliminary tax levy.

 

The alternative resolution options attached reflects the preliminary revenues and expenditures for the general fund, corresponding with the property tax levy increase alternatives of 7.7%, 5.7% and 3.7%.  The increase or decrease from the baseline 5.7% increase in expense is adjusted in General Government expense.  This allocation will change as additional priorities are discussed at later Work Sessions.  The resolution also establishes the time and date for our public hearing for December 1st at 6:00 pm.  The hearing is required by State statute and the City has coordinated the hearings with Rice County.

 

City Administrator Martig will be providing a brief presentation at the meeting.  The presentation will be forthcoming as supplemental information for this agenda item.

 

Alternative Options:

•                     Consider an alternative resolution corresponding to an alternative preliminary property tax levy increase as shown in attachments 2 & 3.

 

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, 2020.