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Lift Stations — The Equipment Repair and Maintenance services line item includes control panel <br />replacements at City Hall, Westwood, and Evans lift stations, generator for Evans, replacing pumps 1 & 2 <br />at Highway 10 station. <br />General Fund Budget U12date <br />We just received information on our preliminary 2012 tax values for taxes payable 2013. Our Taxable <br />Market Value (TAM decreased 8.80 %, but our Net Tax Capacity (NTC) decreased 7.32 %. With the <br />planned decertification of TIF 16 & 19, this would bring the NTC decrease to approximately 4.9 %. We <br />had estimated a TMV decrease of about 10% based on early information from the county. Also <br />important to note as pointed out in the county letter, that these values may still be adjusted. We did <br />receive an email from the county indicating that a correction might still happen for some public utility <br />values. <br />Also attached is the budget summary with different scenarios. Scenario (a) is the budget if based on the <br />preliminary county data with the same tax rate as 2012. Scenario (b) is a tax rate and levy reduction in <br />between the same levy and tax rate from 2012. Scenario (c) is based on the same tax levy as 2012, which <br />means no additional taxes collected from 2012. <br />Adopted 2013 maximum levy is broken out as follows with a comparison to 2012 adopted levy. <br />General Fund <br />Library <br />Surface Water Management <br />Debt Service <br />Tax Abatement <br />Total City Levy <br />% Change in City Tax Levy <br />City of Elk River <br />2013 Maximum Tax Levy <br />Pay 2012 <br />Pay 2013 <br />Levy <br />Levy <br />$ 9,142,170 <br />$ 9,303,135 <br />63,100 <br />63,100 <br />50,000 <br />50,000 <br />592,041 <br />643,497 <br />428,504 <br />216,083 <br />$10,275,815 $10,275,815 <br />0.00% <br />Over the next several months we will be making final adjustments to both the revenue and expenditures <br />as we get more updated information on such things as insurance, fuel etc. The consumer price index is <br />trending at 1.96% for 2012. <br />ATTACHMENTS <br />• Enterprise Fund detail worksheets <br />• Budget summary scenarios <br />• Preliminary 2012 Tax Values (for Proposed 2013 Tax Notices) <br />• Tax impact examples <br />Action Motion by Second by Vote <br />Follow Up <br />N: \Public Bodies \City Council \Council RCA \Agenda Packet \09 -10- 2012 \budgetstaffreport0910.docx <br />