HomeMy WebLinkAbout94-119 - ADMIN Resolution - City Council - 1994/09/12RESOLUTION NO. 94-119
RESOLUTION APPROVING PROPOSED 1994 TAX LEVY, COLLECTIBLE IN 1995
AND APPROVING PROPOSED 1995 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 approval of a proposed tax
levy, a preliminary budget for 1995 and the dates of the initial and continuation public hearings on
the proposed budget on or before September 15, 1994, and
WHEREAS, the City Council has received the proposed budget document, dated August
18, 1994,
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of St Louis
Park that the preliminary budget for 1995 shall be as noted in Exhibit A of this Resolution and as
supported by the detailed document, dated August 18, 1994; and
BE IT FURTHER RESOLVED, that the dates for the public hearings on the proposed
tax levy and budget are set for Wednesday, November 30th and Wednesday, December 14th at
7.30 p m in the Council Chambers of City Hall; and
BE IT FURTHER RESOLVED, that the City Council reserves the right, to amend the
1995 proposed budget prior to final adoption in December, 1994; and
BE IT FURTHER RESOLVED, that the City Council of the City of St. Louis Park,
Hennepin County, Minnesota, that the following sums of money be levied in 1994, collectible in
1995 upon the taxable property in said City of St Louis Park for the following purposes
General Fund
Parks & Recreation
Park Improvement
Debt Service (G 0 Bonds)
Total
$ 6,093,689
1,407,443
42,461
323.100
$ 7,866,693
BE IT FURTIIER 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 1995 on all outstanding bond issues, and the deferred annual tax levies previously
certified to the County Auditor are hereby canceled, and replaced by the above debt service tax
levy, and
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.
Attest.
Reviewed for administration:
IA/l
City Manager
Adopted by the City Council, September 12, 1994
hi .
Ma l• r
Approved as to form and execution:
4-cceae,i,--ea���uc—
City Attorney
CITY OF ST. LOUIS PARK
1995 PROPOSED BUDGET SUMMARY
REVENUE AVAILABLE
Balance January 1, 1995 $ 16,129,929
Current Revenue -
General property tax 7,705,503
Special assessments 562,000
Licenses and permits 931,065
Fines and forfeitures 287,100
Intergovernmental revenue -
Local govemment aid 1,856,971
Homestead/transition aid 2,869,300
Other 2,051,987
Service charges 13,597,418
Miscellaneous revenue 1,354,824
Inter -fund transfers 1,130,400
Total Current Revenue
Balance and Current Revenue
Less: transfers and charges
between budgeted funds
Total Available
REQUIREMENT
32,346,568
48,476,497
(5,553,667)
42,922,830
Appropriations
Personal services 15,898,512
Supplies, service and other charges 14,428,954
Capital outlay 2,532,899
Debt service principal & interest 1,653,999
Inter -fund transfers 483,500
Total Appropriations 34,997,864
Reserves, December 31, 1995 2,814,993
Total Appropriations and Reserves 37,812,857
Less: transfers and charges
between budgeted funds
(5,553,667)
Net Total Requirement 32,259,190
Estimated Fund Balance December 31, 1995 $ 10,663,640
EXHIBIT A