Agenda - Council - 12/10/2019 - Laserfiche WebLink

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Our Mistioi}: To work together to reipoiibly grew our comma nityr, and to provide quality, cent -offer ivB. and efficient government services. CC Regular Session 6. 1. Meeting Date: 12/10/2019 By: Diana Lund, Finance Information Title: Public Hearing on 2020 Tax Levies and General Fund Budget - Adopt Resolution #19-291 Adopting the 2019, Payable 2020 Municipal Tax Levy; Adopt Resolution #19-292 Adopting the 2020 General Fund Budget and Adopt Resolution # 19-293 Adopting the 2020 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 31, 2019. A budget/levy slide presentation will be provided that will outline the city's proposed 2020 levies and General Fund Budget. A brief recap of this presentation are as follows: 2020 Final Overall Levy: $12,509,232 - a $32,477 reduction (removal of Metro Cities membership, health insurance changes, and reimbursement for Presidential Primary Election) from September Preliminary levy adopted September 24, 2019 of $12,541,709. The final adopted levy in 2019 was $11,831,336. Levy Components: General Fund Levy: $10,670,932($9,972,432 - Year 2019) Debt Service Levies: $1,746,887 ($1,757,241- Year 2019) EDA Levy: $ 91,413 ($101,663 - Year 2019) The levy increase from payable 2019 to payable 2020 is mostly attributed to union negotiated contracts for Cost of Living Adjustments (COLA) and health insurance premium increases. Other personnel related factors include: PERA (public employee retirement) rate increase on Police and Fire, additional 8 hours for each full-time employee due to leap year and an extra day, election judges for presidential/city council elections, four position reclassifications and the hiring of a full-time Community Development Assistant to to offset the reduction of hours for the Community Development Assistant going to phased retirement. 2020 Final Tax Capacity Rate: 39.184 (40.354% - Year 2019) 2020 General Fund Budget: $13,303,589 ($12,838,782 - Year 2019)