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4. 2010 Preliminary Levy Approval CITY OF CHANHASSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN 55317 Administration Phone: 952.227.1100 Fax: 952,227,1110 Building Inspections Phone: 952.227.1180 Fax: 952.227.1190 Engineering Phone: 952.227,1160 Fax: 952,227,1170 Finance Phone: 952.227.1140 Fax: 952.227.1110 Park & Recreation Phone: 952,227.1120 Fax: 952.227.1110 Recreation Center 2310 Coulter Boulevard Phone: 952.227.1400 Fax: 952,227.1404 Planning & Natural Resources Phone: 952.227.1130 Fax: 952.227.1110 Public Works 1591 Park Road Phone: 952,227,1300 Fax: 952.227.1310 Senior Center Phone: 952.227.1125 Fax: 952,227,1110 Web Site www.ci.chanhassen.mn.us L/- - MEMORANDUM TO: Mayor and City Council Greg Sticha, Finance Director &.7 . FROM: DATE: b~' September 14, 2009 SUBJ: 2010 Preliminary Levy Approval BACKGROUND At our meetings in August, staff reviewed with the City Council the upcoming budget calendar, some of the assumptions used in initial preparations of the 2010 budget, and five scenarios for setting a preliminary levy. At this evening's meeting, staff will briefly review this information again. At the end of the discussion, the council must approve a preliminary levy that needs to be submitted to the county on September 15th. Attached are a number of key documents that will assist you in our long term planning process and the PowerPoint that I will be presenting at the meeting. ATTACHMENTS 1. Levy Impact Scenarios 2. Debt Levy Schedule 3. KFS General Fund Projections 4. Revolving Assessment Construction Fund 5. 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"~ ~g ;~ ~~ ~~ ~~ w_ :00 "ill ~ ~ ~ ~ i ~ H~ '!j ,I ", " '~~ ~ Q.(Il ~ B a ~ ~~ -< B~ ~ j-g ~ ~~ ,." ~i ~ i~ g ~~ ~ :'3.9:! ~O i ~ ~ 'B: ~E '~:S : iIlill '0; ~g a: ~ fa ~ g~ ('II ~.~ ~ I-~ @ l @ CITY OF CHANHASSEN (DECEMBER) TAX LEVY 2010 Budget 2009 2010 Percent TAX CAPACITY BASED TAX LEVY Levy Levy Increase General Fund $7,173,500 $7,593,223 5.85% 419,723 Capital Replacement Fund (for equipment) 824,000 824,000 0.00% Pavement Mgmt Fund (Sealcoating) 267,875 200,000 -25.34% General Obligation Debt 297,900 0 -100.00% General Obligation Debt (212 Bonds) 285,000 285,000 0.00% Audubon 400,000 0.00% Public Works Facility 599,300 100.00% Debt of Other Agencies (EDA) 122,603 122,195 -0.33% TOTAL TAX CAPACITY BASED TAX LEVIES $8,970,878 10,023,718 11.74% MARKET VALUE TAX LEVY Park Referendum 972,700 -100.00% Library Referendum 491,300 496,400 1.04% TOTAL MARKET VALUE TAX LEVY $1,464,000 $496,400 -66.09% Use of cash reserves to buy down debt levies ($360,313) ($93,705) TOTAL TAX LEVY $10,074,565 $10,426,413 3.49% Dollar Increase $351,848 LEVY MAX Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5 Full FTE + Full FTE + Full FTE - Minus 1 FTE - Minus 2 FTE - Deputy + $53K Deputy - $53K Deputy - $53k Deputy - $53k Deputy. $53k Taxes applied to: General Fund $ 7,593,223 $ 7,540,000 $ 7,452,000 $ 7,380,000 $ 7,320,000 Capital Replacement 824,000 824,000 824,000 824,000 824,000 Pavement Mgmt 200,000 200,000 200,000 200,000 200,000 Total Levy subject to levy limits $8,617,223 $8,564,000 $8,476,000 $8,404,000 $8,344,000 Bond Funds 1,502,895 1,502,895 1,502,895 1,502,895 1,502,895 Audubon 400,000 400,000 400,000 400,000 400,000 Reduction in DS Levy (93,705) (93,705) (93,705) (93,705) (93,705) Total $10,426,413 $10,373,190 $10,285,190 $10,213,190 $10,153,190 Tax Generation Capacity Prior Year $10,074,565 $10,074,565 $10,074,565 $10,074,565 $10,074,565 New Construction $139,000 $139,000 $139,000 $139,000 $139,000 Exsiting MV Inc $0 $0 $0 $0 $0 TIF Dist 1 $0 $0 $0 $0 $0 Eden Trace TIF $0 $0 $0 $0 $0 Gateway TIF $0 $0 $0 $0 $0 Total Capacity $10,213,565 $10,213,565 $10,213,565 $10,213,565 $10,213,565 Estimated Effect on avg Taxpayer 2.08% 1.56% 0.70% 0.00% -0.59% Estimated Dollar Effect on avg Taxpayer $ 18.80 $ 14.10 $ 6.40 $ $ (5.30) 9/8/2009 2010 Preliminary Levy Budget Calendar · September 14th - Set preliminary levy, preliminary levy certification form given to county tomorrow. · October 26th - Work session dedicated to department-by- department review of budget (regular session canceled) · November 9th - Work session to discuss annual utility rate study and five year CIP. Additional time for budget discussion if needed. · November 23rd - Work session to discuss any remaining budget, Clp, or Utility Rate issues. · December 7th - Hold public budget meeting. · December 14th - Set final 2010 tax levy, adopt 2010-2014 Clp, and set utility rates for 2010. 1 9/8/2009 Budget Assumptions · A zero percent wage increase for all employees in 2010. · A reduction in the amount of the levy for the street reconstruction fund of $100,000. · A $650,000 reduction in estimated permit revenues for 2010. · Allowing for an increase in the levy for new construction of about $139,000. · Moving software annual upgrade costs to the CIP. · Eliminating scanning services and temporary salaries in building department budget ($30,000 total). Scenario #1 · Levy - Scenario #1 would be an increase in the prior year levy by $351,848, of which $139,000 would be absorbed by new growth. · Potential Budget Impact- This scenario would allow for all services and most of the street reconstruction levy to remain in the budget. · Impact - The result of this levy would be about a 2.08% increase or just over an $18 increase to the average valued home. 2 9/8/2009 Scenario #2 · Levy - Scenario #2 would be an increase in the prior year levy by $298,625, of which $139,000 would be absorbed by new growth. · Potential Budget Impact - This scenario would allow for all services to remain in the budget, but the street reconstruction levy would be about $100,000 less. · Resident Impact - The result of this levy would be about a 1.56% increase or just over a $14 increase to the average valued home. Scenario #3 · Levy - Scenario #3 would be an increase in the prior year levy by $210,625, of which $139,000 would be absorbed by new growth. · Potential Budget Impact - This scenario would most likely result in the elimination of the scheduled hiring of the patrolman and the reduction in the street levy, but would keep all other employees and services in place. · Resident Impact - The result of this levy would be about a .70% increase, or just over a $6 increase to the average valued home. 3 9/8/2009 Scenario #4 · Levy - Scenario #4 would be an increase in the prior year levy by $139,000, which would be completely absorbed by new growth. · Potential Budget Impact - This scenario would most likely result in the elimination of the scheduled hiring of the patrolman, reduction in the street levy, and the reduction of one FTE at city hall. · Resident Impact - The result of this levy would be no increase in the city's share of property taxes to the average valued home. Scenario #5 · Levy - Scenario #5 would be an increase in the prior year levy by about $78,000, which would be completely absorbed by the estimated $139,000 in new growth. · Potential Budget Impact - This scenario would most likely result in the elimination of the scheduled hiring of the patrolman, reduction in the street levy, and the reduction of two FTE's at city hall. · Resident Impact - The result of this levy would be a decrease in the city's share of property taxes to the average valued home by about .6% or just over $5. 4 9/8/2009 Recommendation · Staff recommends setting a preliminary levy using Scenario #2 to allow for flexibility and planning before setting a final levy in December. 1