3.0. SR 08-30-1999 - Laserfiche WebLink

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rei ---'\) ( ); ~l}{ MEMORANDUM River TO: Mayor & City Council FROM: Pat Klaers, City Adminis~ator August 26, 1999 ~. SUBJECT: 2000 Budget DATE: The second City Council worksession on the 2000 budget is scheduled for Monday, August 30,1999, at 6:00 p.m. in the training room. The attached budget material is still in a worksheet format, and the revenue pages look different as additional history has been provided per request at the first budget worksession on July 26, 1999. REVENUES . At the 7/26 worksession, the council requested some changes in the growth related revenues and in the tax figure. These changes have been made, plus some additional LGA and Development Fund (transfer in) changes have been made now that the final LGA figure from the state has been received. The tax amount is based on the 1999 tax rate of 29.324 and an increase of 5 percent in the net tax capacity (NTC). The growth related revenues have been increased to reflect 90 percent of the 1998 actual amounts. These changes result in a decrease in revenues of $16,450 from the 7/26 amount of$5,717,550. The 8/30 revenue projection is $5,701,100. The changes are as follows: . Taxes . Building Permits . Plumbing/Heating Permits . LGA . Plan Check Fees . Development Fund - $132,350 +$ 56,550 +$ 10,550 +$ 10,950 +$ 33,950 +$ 3,900 The tax revenue in the general fund is up $167,650 from the 1999 budget. This increase is similar to the change from 1997 to 1998, but is less than the other years shown on the revenue page. The tax revenue increase for the 2000 budget is less than the increase between 1998 and 1999, when general fund tax revenues increased $361,810. . 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330. TDD & Phone: (612) 441-7420. Fax: (612) 441-7425