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HomeMy WebLinkAbout2005-08-23 CC Packet Special Meeting AGENDA CITY OF STILLWATER CITY COUNCIL MEETING NO. 05-16 Council Chambers, 216 North Fourth Street August 23, 2005 \ECIAL MEETING , I " / 4:30 P.M. AGENDA CALL TO ORDER ROLL CALL OTHER BUSINESS - Budget Workshop 4:30 Public Works/Engineering 5:30 Fire 6:30 Recreation Center 7:00 Administration/MIS 7:30 Community Development 8:00 City Attorney 8:30 Finance 9:00 Special Events/Mayor & Council ADJOURNMENT 4:30 P.M. . -yre-no DATE: August 18, 2005 TO: FROM: Mayor and City Council -" Sharon Harriso~-t~\~J Finance Directo~CJ- 2006 Proposed Budget RE: Included in your packet for the budget workshop is a three ring binder with all the budget information you ever wanted to have. The workbook is grouped together by fund and then by departments where applicable. The tabbed sections of the workbook only provided operating costs ONLY. Capital items are reflected on a separate worksheet in front of the workbook. . The General Fund is the main operating fund of the City_ In the General Fund you will find the various departments within the City (Administration, Finance, Fire, Police, Public Works, etc.). The City also budgets a few Special Revenues Funds (Special Events, St Croix Valley Recreation Center, Library, Parks, DAR and the Washington County Recycling Grant). Of these Special Revenue Funds, the Special Events Fund, the Library Fund, the Parks Fund, and the DARE Fund affect the General Tax Levy. The amounts in which these funds affect the General Tax Levy are shown by the "transfers out" under the OFS (Other Financing Sources) tab of the General Fund. The City also prepares a budget for the City's Enterprise Funds. The Enterprise funds are set up to be a self-supporting fund supported by fees charged to external users of those services. The City's enterprise funds include the Sanitary Sewer Funds, the Storm Sewer Fund, the Sign & Lighting Fund and the Parking Fund. There are also budgets for the Debt Service Funds and the Capital Project Funds. The amount that each debt service fund affects the Debt Service Levy is reflected under the account Current Property Taxes of each debt service fund. Not all debt service obligations affect the Debt Service Levy. Some are funded by revenues generated by the facility (Water Board, St Croix Valley Recreation Center) and others are supported by tax increment or special assessments. The Capital Project Funds are mainly funds set up to account for major capital projects, funding . of capital outlay items and TIF Districts. Not all Capital Project Funds have a budget. OPERATING BUDGET . The tabbed sections of the workbook provide only the 2006 operating costs requested by department heads and what is being proposed by the City Administrator. The 2005 Estimated Column is the actual year-to-date amount received/expended as of August 19,2005. The accounts that are shown with an asterisk (*) are inactive accounts. Also, under each tab is a breakdown of wages and benefits for each department by employee. CAPITAL BUDGET Included also in the front of the workbook, is capital outlay schedule showing what was requested by the department heads, what is being proposed by the City Administrator and how each capital outlay item is proposed to be funded. TAX LEVY Also included in front of the workbook are scbedules showing the proposed the Tax Levy, how the City Tax rate is calculated and how the Tax Levy may affect property owners. The Tax Levy is broken down into two levies: (1) General Tax levy, and (2) The Debt Service Levy. The General Tax Levy is the amount required to balance the budget after all other revenues sources have been accounted for. The Debt Service Levy are the amounts required to be levied to pay our debt service obligations. The amounts that are required to be levied are stated in the . bond documents of each debt obligation. Some levys are cancelled due to sufficient funding already available. The proposed tax levy will have to be adopted at September 6th Council meeting in order to meet the September 15 deadline in which we have to report our proposed levy to the County. Once the proposed amount has been adopted and sent to the County, the amount of the levy can no longer be increased. It can either stay the same or be decreased. Final certification of the tax levy will occur in December. If you have any questions regarding the information presented in the workbook, please feel free to call me at 430.8812 or we can discuss at the workshop. .