ADMINISTRATION - Joe Huss, Finance Director
Title
CERTIFY PROPOSED GENERAL FUND BUDGET AND TAX LEVY FOR FISCAL YEAR 2017
Background
Minnesota Statutes require cities to annually certify preliminary budget and property tax levies to county auditors by September 30. As discussed at previous budget workshops, the preliminary budget may be adjusted either up or down. However, once set, the property tax levy can only be lowered. Thus, the Council does have the ability to reduce the preliminary tax levy as the 2017 budget process progresses.
The levy proposed in the attached resolution would, per the best estimates of staff given data currently available, result in a 2017 net tax capacity rate that equals the 2016 net tax capacity rate of 35.901%.
The proposed expenditure budget totals $28,811,755. Preliminary revenue sources provide a safe margin of revenues over expenditures of $179,320.
Recommendation
By motion, approve following resolution
Body
WHEREAS, current tax law requires cities to certify a proposed budget and tax levy to the county auditor; and
WHEREAS, guidelines established by the Commissioner of Revenue require this to be done by September 30; and
WHEREAS, the Department of Revenue certified the local government aid amounts to cities which were set for payable 2017 by the current tax law.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine, Minnesota, that the proposed expenditure budget for the General Fund is $28,811,755; and
BE IT FURTHER RESOLVED that the proposed 2017 net levy for the General Fund; the Pavement Management Program; Improvement Bonds of 2008, 2012, 2014 and 2016; Improvement Refunding Bonds of 2012; Capital Improvement Bonds of 2007; and Equipment Certificates of 2014 is $24,103,525; and
BE IT FINALLY RESOLVED that the resolution represents a good faith effort by the City to substantially comply with the applicable law and the guidance supplied by the Commissioner of Revenue.
PASSED by the City Council of the City of Blaine this 1st day of September 2016.