HomeMy WebLinkAbout92-137 - ADMIN Resolution - City Council - 1992/09/081
RESOLUTION NO.
92-137
RESOLUTION APPROVING PROPOSED 1992 TAX LEVY, COLLECTIBLE IN 1993 AND
APPROVING PROPOSED 1993 BUDGET
WHEREAS, The City of St. Louis Park is annually required by Charter and State law
to approve a resolution setting forth an annual tax levy to the Hennepin County
Auditor: and
WHEREAS, Minnesota statutes currently in force requires certification of a
required proposed tax levy to the Hennepin County Auditor on or before September 15,
1992 and
WHEREAS, the City Council, at a informal meeting on the 31st day of August has
reviewed the 1993 operating budgets as set forth in Exhibit A of this resolution, and
WHEREAS, the details of the budgets are contained in a certain document, dated
August 6, 1992, submitted to this Council by the City Manager, as revised, and
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of St. Louis Park
that the revenue and expenditure budget for 1993 shall be as noted in Exhibit A of
this Resolution and as supported by the detailed document, dated August 6, 1992; and
BE IT FURTHER RESOLVED, that the City Council reserves the right, to amend the
1993 proposed budget prior to final adoption in December, 1992 whether or not the
purpose is specifically itemized in the budget documents; and
BE IT FURTHER RESOLVED, that the City Council establishes Monday, December 7,
1992 at 7:30 P.M. for a public hearing for the 1993 Proposed Budget and Wednesday,
December 16, 1992 at 7:30 P.M. to reconvene the public hearing; and
BE IT FURTHER RESOLVED, by the City Council of the City of St. Louis Park,
Hennepin County, Minnesota, that the following sums of money be levied in 1992,
collectible in 1993 upon the taxable property in said City of St. Louis Park for the
following purposes:
General Fund $9,929,997
Civil Defense Fund 41,999
Debt Service (G.O.Bonds) Fund 494,196
Municipal Building Fund 281,714
Park Improvement Fund 16.083
Total levy 10,763,989
BE IT FURTHER RESOLVED, that provision has also been made for payment of the
City's share of Public Employees Retirement Association's contributions for the
ensuing years.
BE IT FURTHER RESOLVED, that there is a sufficient sum of monies in the Debt
Service Fund of the City, together with the above Debt Service Fund tax levy, to pay
principal and interest in 1993 on all outstanding bond issues, and the deferred
annual tax levies previously certified to the County Auditor are hereby canceled, and
replaced by above debt service tax levy.
92-13?
BE IT FURTHER RESOLVED, that the City Clerk is hereby authorized and directed to
transmit a certified copy of this resolution to the County Auditor of Hennepin
County, Minnesota, and to the Local Government Aids/Analysis Division, Department of
Revenue, State of Minnesota, as required by law.
Adopted by e City Council September 8, 1992
i
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Reviewed for administration:
w• �• taViat
City Manager
Approved as to form and execution:
SttiSu bt?late �h
City Attorney
CITY OF ST. LOUIS PARK
1993 PROPOSED BUDGET SUMMARY
EXHIBIT A
REVENUE AVAILABLE
Balance January 1, 1993 $ 19.297.229
Current Revenue -
General property tax 8,389,795
Special assessments 800,000
Licenses and permits 897,700
Fines and forfeitures 282,600
Intergovernmental revenue -
Local government aid 1,859,000
Homestead/transition aid 2,630,098
Other 3,645,233
Service charges 12,866,439
Miscellaneous revenue 1,281,564
Inter -fund transfers 3.194.000
Total Current Revenue 35.846.429
Balance and Current Revenue 55,143,658
Less transfers and charges
between budgeted funds 7.088.317
Total Available 48.055.341
REQUIREMENT
Appropriations -
Personal services
Supplies
Other services and charges
Capital outlay
Debt service (Princ. & Int.)
Inter -fund transfers
Contingency Appropriation
Total Appropriations
Reserves December 31, 1993
Total Appropriations and Reserves
Less transfers and charges
between budgeted funds
Net Total Requirement
Estimated Fund Balance December 31, 1993
$ 15,806,158
1,636,337
11,353,388
7,563,422
2,550,000
2,238,000
300,000
41.447.305
$ 6.755,000
48,202,305
7.088.317
41.113.988
6,941,353