Agenda - Council - 12/11/2018 - Laserfiche WebLink

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Our Mission: To wok together to respcsibty grow Our community, and to provide quality, cest,effective, and efficient government services. CC Regular Session 6. 1. Meeting Date: 12/11/2018 By: Diana Lund, Finance Information Title: Public Hearing on 2019 Tax Levies and General Fund Budget - Adopt Resolution #18-254 Adopting the 2018, Payable 2019 Municipal Tax Levy; Adopt Resolution #18-255 Adopting the 2019 General Fund Budget and Adopt Resolution # 18-256 Adopting the 2019 Economic Development Authority (EDA) Budget Purpose/Background: Purpose: The city is required to hold a meeting where the city's budget and levy will be discussed and the public can give input. The city is required to adopt a levy and certify to the county auditor by December 28, 2018. A budget/levy slide presentation will be provided that will outline the city's proposed 2019 levies and General Fund Budget. A brief recap of this presentation are as follows: 2019 Final Overall Levy: $11,831,336 - a $75,214 reduction (resignation of police officer, open -enrollment health insurance changes) from September Preliminary levy adopted September 25, 2018 of $11,906,550. The final adopted levy in 2018 was $11,374,395. Levy Components: General Fund Levy: $9,972,432($9,395,242 - Year 2018) Debt Service Levies: $1,757,241 ($1,875,172- Year 2018) EDA Levy: $ 101,663 ($103,981 - Year 2018) The levy increase from payable 2018 to payable 2019 is mostly attributed to new personnel requests ($277,654) which includes a full-time Firefighter/Inspector, full-time Police Officer, full-time Police Officer (start 10/1/19), full-time Public Works Maintenance Worker, a current part-time Engineering Administrative Assistant to full-time (effective 7-1-19) and health insurance premium increases. 2019 Final Tax Capacity Rate: 40.299% (41.730% - Year 2018) 2019 General Fund Budget: $12,838,782 ($12,123,284 - Year 2018) 2019 EDA Budget: $109,163 ($111,481 - Year 2018) All EDA and General Fund documents are included together, as the EDA levy calculates into the total general levy calculation of the city and thus accounts for the several motions listed below. Notification: