CC Packet 2006 12 04AGENDA
CHANHASSEN CITY COUNCIL
MONDAY, DECEMBER 4, 2006
CHANHASSEN MUNICIPAL BUILDING, 7700 MARKET BOULEVARD
5:30 P.M. - CITY COUNCIL WORK SESSION, FOUNTAIN CONFERENCE ROOM
1. Continuation of Budget & CIP Review.
6:30 P.M. – EXECUTIVE SESSION, FOUNTAIN CONFERENCE ROOM
2. Discussion of City Manager’s Performance Evaluation.
7:00 P.M. – PUBLIC HEARING
3. Truth-in-Taxation Hearing.
Members of the City Council and some staff members may gather at Houlihan’s Restaurant & Bar, 530 Pond Promenade in Chanhassen immediately
after the meeting for a purely social event. All members of the public are welcome.
MEMORANDUM
TO: Mayor
City Council
FROM: Greg Sticha, Finance Director
DATE: December 4, 2006
SUBJ: Truth in Taxation Hearing
The city budget for 2007 represents little change from the 2006 budget.
HIGHLIGHTS
Total budgeted expenditures in the general fund increase from $8,900,100 to
$9,062,400. In 2006, we transferred excess reserves from the general fund to
our revolving assessment fund. We will now use the reserves in the revolving
assessment fund to maintain a flat debt levy and zero percent increase in the
average property owner’s city portion of their property tax bill ($63,000). As
discussed in our individual department budget presentations, the increase in the
general fund expenditures are almost entirely made up of wage increases and
additional energy costs estimated for 2007. There are no new employees in the
2007 budget.
The total levy for the City, including the general fund, the capital replacement
fund, sealcoating, and debt service, went from $9,354,890 in 2006 to $9,575,778
in 2007, which is a $220,888 or 2.4% increase in total levies from the prior year.
RECOMMENDATION
Staff recommends that the City Council hold the public hearing for Truth-in-
Taxation on December 4, receive public input regarding the tax levy and budget,
and close the public hearing. Final adoption the proposed tax levy is scheduled
for December 11, 2006.
ATTACHMENTS
1. 2006 Truth-in-Taxation Hearing PowerPoint Presentation
2. Tax Levy Comparison
3. General Fund Revenues
4. General Fund Expenditures
5. Bond Debt Levy Schedule
6. Revolving Assessment Fund
7. City of Chanhassen Tax Rate and Levy History
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