5.0. SR 12-04-2006 - Laserfiche WebLink

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o Increase of $1,009,200 or 9.52% o Revenues by Source · Taxes - 71.63% · Intergovernmental Revenues - 7.93% · Charges for Services - 6.80% · Fines and Forfeits - 1.37% · Licenses & Permits - 7.50% · Other Revenues - 1.14% · Transfers - 3.63% o Expenditures by Category · General Government - 22.62% · Public Safety - 44.62% · Public Works -17.41 % · Culture & Recreation - 13.68% · Transfers - 1.68% o Expenditure Allocation · Personal Services - 72.15% · Supplies - 8.41 % · Other Charges & Services -14.55% · Capital Outlay - 3.21 % · Transfers Out - 1.68% Special revenue and enterprise fund budgets have been discussed previously and will be mentioned only briefly during the truth in taxation presentation as most of them are not supported by tax revenue. Attachments · Truth in Taxation Presentation handout · Sample parcel specific notice · General Fund Source of Funds · General Fund Appropriations Summary · General Fund Expenditure Summary · General Fund Budget · Special Revenue Fund budgets · Enterprise Fund budgets · Handouts from League of Minnesota Cities o "Fourteen Reasons Why Property Taxes Vary From Year to Year" o "Who Does What? A Guide to Minnesota's Property Tax System" Action Reauested The City Council is asked to open the truth in taxation public hearing to discuss the city's proposed tax levy and budget and to offer the public an opportunity to provide input to the Council on both the budget and levy. The Council must then announce the date of the subsequent hearing if there is not time to receive all public comments at this hearing. If a subsequent hearing is not required, the Council must announce the date at which the budget and tax levy will be adopted. S:\Council\Lori\2006\Truth in Taxation PH.doc