6.0. SR 09-07-2010 - Laserfiche WebLink

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REQUEST FOR ACTION fiver To Item Number Ci Council 6.0. Agenda Section Meeting Date Prepared by Bud et Worksession Se tember 7, 2010 Lori ohnson, Ci Administrator Item Description Reviewed by 2011 Tax Levy and Budget Discussion Reviewed by Action Requested Consider the following resolutions and motion for adoption no later than at the September 13 meeting: 1. A resolution authorizing the proposed property tax levy for collection in 2011. 2. A resolution approving the Housing and Redevelopment Authority 2011 tax levy. 3. A resolution approving the 2011 tax levy for economic development purposes for the Elk River Economic Development Authority. 4. A motion to set the budget meeting at which public comment will be taken for December 6, 2010, at 6:30 p.m. Background/Discussion The City is required to certify its maximum City levy and the HRA and EDA levies to the County Auditor no later than September 15: The levy adopted in September may be reduced on December 6 when the final levy is adopted, but it may not be increased. The levy adopted in September will be used in the tax notices mailed to property owners in November. The Council must also schedule one regular meeting at which the budget and levy will be discussed and public comment will be taken. This meeting date, scheduled for December 6, 2010, must also be set by September 15. The remainder of the General fund and special revenue fund budgets that the Council has not yet reviewed are attached. Those include the building safety, environmental, and energy city General fund budgets, and the Storm Water Management, Safety, and Library special revenue fund budgets. Staff will be present at the meeting to discuss these budgets with the Council. There are no significant changes in these budgets for 2011. Also attached is a sample levy resolution fox discussion. We have not received updated net tax capacity data from Sherburne County, but expect to get that data before the levy is adopted on September 13. The sample levy calls for a total levy identical to the 2010 payable levy. Consequently, the General fund budget as proposed assumes tax revenue based on that total levy. Again, it is important to note that the levy adopted now cannot be increased in December. If the revised NTC estimate from the County is higher than the preliminary estimate, a revised levy resolution will be prepared for the September 13 meeting. If the levy is approved as discussed above, there is currently a General fund budget gap of $514,100 before use of fund balance and without including LGA revenue of $686,800. As you may recall, the N:\Public Bodies\City Council\Lori\2010\Budget req for action 9 7 10 fmal.doc