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2014 Public Budget Presentation 1 Budget Process 2 Preliminary budgets submitted by Department  Directors in early July Budget reviewed by Finance Director and  City Manager in late July Detailed Budget Meeting held in August  Preliminary Tax Levy Adopted for Truth-in-  Taxation Statement purposes on September 9 Public budget meeting held on December 2  Budget adoption on December 9  Additional Budget Reduction Items Being Recommended by Staff for 2014 3 Elimination of Temporary Building Department Wages$14,000  Elimination of Police Reserve Vehicle$15,000  Reduction in Copier Expenses$6,250  Reduction in MIS Programs & Purchases$10,000  Delay Hiring of FT Fire Chief$30,000  Expenditure Reductions$75,250 Reduction in Sealcoating Levy (Supplemented by RAC Fund)$15,000  Total Proposed Reduction in Levy and Expenses$90,250  Expenditures 4 2014 2014 Preliminary Recommended 2013 Final % Change BudgetFinal Budget Budgetfrom 2013 $1,993,800$1,992,300$2,016,449+1.1% General Government $3,053,900$3,203,899$3,148,700+3.1% Law Enforcement/Fire $2,332,700$2,391,800$2,360,300+1.2% Public Works $419,900$435,200$434,400+3.5% Community Development $1,947,100$1,981,000$1,969,100+1.1% Park & Recreation $9,747,400$10,004,199$9,928,949+1.9% Total 4 Revenues 5 2014 2014 Preliminary Recommended 2013 Final % Change BudgetFinal Budget Budgetfrom 2013 $7,426,700$7,705,200$7,629,950+2.7% Property Tax $996,800$999,500$999,500+0.3% Licenses & Permits $280,000$285,000$285,000+1.8% Intergovernmental Rev. $568,100$569,900$569,900+0.3% Charges for Services $131,500$122,500$122,500-6.8% Fines & Penalties $344,300$322,099$322,099-6.4% Other Revenue $9,747,400$10,004,199$9,928,949+1.9% Total Revenue 5 General Fund Budget vs. Actual Expenditures 6 * Amended from original budget of $9,859,100 General Fund Budget vs. Actual Revenues 7 * Amended from original budget of $9,859,100 What factors change the budget for 2014? 8 Most expenditure line items remain flat for 2014  General Fund expenditures increased $256,799  (+2.6%) Wage (Merit Based) increases of 3.0% included  Budgeted permit revenue same as 2013  Healthcare Cost Budgeted at 15% (actual  13.07%, adjustment will be made before final levy) Operational/Capital & Debt Levy Changes 9 2014 Recommended Operational & Capital Levies2013 Final 2014 % Chg Final Levies LeviesPreliminary General Fund$7,476,700$7,705,200$7,629,950 Capital Replacement$800,000$800,000$800,000 MSA (Sealcoating)$200,000$200,000$185,000 Total Operational & Capital Levies$8,476,700$8,705,200$8,614,950+1.63% Debt Levies General Obligation Debt $550,000$233,800$233,800 (212 Bonds) Audubon$130,680$444,410$444,410 Public Works Facility$593,200$592,100$592,100 Library Referendum$445,310$448,880$448,880 Total Debt Levies$1,719,190$1,719,190$1,719,190+0.0% TOTAL ALL LEVIES$10,195,890$10,424,390$10,334,140+1.36% 9 Total Levy vs. New Growth 10 Effect on Homeowners 11 Below are some examples of how the 2014 levy will impact property owners. The average home in Chanhassen increased in value approximately 3.8% in taxable market value for 2014. 20132014Percent 2013 City 2014 City Percent ValueValueChangeProperty TaxProperty TaxChange Parcel 1$257,900$273,000+5.9%$770.96$788.87+2.3% 2$299,700$310,000+3.4%$895.14$895.470.0% 3$304,100$312,100+2.6%$908.21$901.21-0.8% 4$562,800$583,700+3.7%$1,723.13$1,740.85+1.0% 5$796,600$824,600+3.5%$2,586.73$2,601.45+0.6% Actual Property Tax Statement for Proposed 2014 Taxes (School District #112) 12 * TNT Statements for District 112 did not include the newly approved levy in the total estimated tax bill. KFS Budgeted Expenditure Comparison 13 Budgeted Expenditures **% Increase CityPopulation *20122013From 2012 31,125 12,772,307 13,205,076 3.39% Andover 23,7799,738,200 9,889,0001.55% Chanhassen 24,21110,240,76510,928,9346.72% Chaska 20,625 8,374,8548,287,885-1.04% LinoLakes 35,187 14,644,39515,406,6855.21% Cottage Grove 22,384 10,902,40011,117,1001.97% Rosemount 27,552 12,060,92812,347,1732.37% Savage 21,792 9,820,841 10,429,6536.20% Farmington 23,385 10,630,202 10,917,6002.70% Prior Lake 24,361 13,472,900 13,641,7501.25% Elk River 18,638 11,271,014 11,420,4161.33% Stillwater 24,822 11,266,255 11,599,2072.88% Average * Met Council Population Estimate ** Minnesota State Auditors Office City Summary Budget Report for 2012 and 2013 Carver County Cities Budgeted Expenditure Comparison 14 Budgeted Expenditures ** % Increase CityPopulation *20122013From 2012 Chanhassen23,779 9,738,2009,889,0001.55% Chaska24,211 10,240,765 10,928,934 6.72% Waconia11,065 4,735,078 5,028,7586.20% Victoria7,793 3,554,138 3,651,2062.73% Carver4,012 1,859,726 1,848,987-0.58% Average14,1726,025,5816,269,3773.32% * Met Council Population Estimate ** Minnesota State Auditors Office City Summary Budget Report for 2012 and 2013 KFS Per Capita Spending Comparison 15 Per Capita CitySpending 2012 424 Andover 416 Chanhassen 451 Chaska 402 LinoLakes 438 Cottage Grove 497 Rosemount 448 Savage 479 Farmington 467 Prior Lake 560 Elk River 613 Stillwater 472 Average Carver County Cities Per Capita Spending Comparison 16 Per Capita CitySpending 2013 Chanhassen416 Chaska451 Waconia454 Carver461 Victoria469 Average450 Carver County Tax Rates 17 City2013 Tax Rate** Chaska28.075 Chanhassen28.428 Victoria39.574 Waconia49.433 Carver57.320 Watertown60.690 NorwoodYoung America62.292 Mayer68.839 NewGermany76.454 Cologne80.312 Hamburg122.833 Average61.295 ** Based on Urban Tax Rates City of Chanhassen Tax Rate History 18 Rate is based on urban rates and includes both tax capacity and market value based levies. Sales Tax Law Change 19 Sales Tax Law Change 20 Sales Tax Law Change 21