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File #: RES 18-190    Version: 1 Name: 2019 Preliminary Budget, Tax Levy
Type: Resolution Status: Passed
File created: 9/20/2018 In control: City Council
On agenda: 9/20/2018 Final action: 9/20/2018
Title: CERTIFY PROPOSED GENERAL FUND BUDGET AND TAX LEVY FOR FISCAL YEAR 2019
Sponsors: Joe Huss
ADMINISTRATION - Joe Huss, Finance Director

Title
CERTIFY PROPOSED GENERAL FUND BUDGET AND TAX LEVY FOR FISCAL YEAR 2019

Background
Minnesota Statutes require that cities 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 2019 budget process unfolds.

The levy proposed in the attached resolution would, per the best estimates of staff given data currently available, result in a combined 2019 net tax capacity rate that equals the 2018 combined net tax capacity rate for the City and EDA of 36.842%.

The proposed General Fund expenditure budget totals $32,266,450. Preliminary revenue sources provide a safe margin of revenues over expenditures of $112,950.

Recommendation
By motion, approve the 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 that were set for payable 2019 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 $32,266,450; and

BE IT FURTHER RESOLVED that the proposed 2019 net levy for the General Fund; the Pavement Management Program; Parks Reinvestment Program; Improvement Bonds of 2012, 2013, 2014, 2016, and 2017; Improvement Refunding Bonds of 2012; and Equipment Certificates of 2014, 2016, and 2018 is $28,594,100; and

BE IT FINALLY RESOLVED that the resolution represents a good faith effort by the City to substantially comply with the applicable law...

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