HomeMy WebLinkAbout23-170 - ADMIN Resolution - City Council - 2023/12/18
Resolution No. 23-170
Adopting the 2024 general fund budget, other 2024 budgets, authorizing
the 2024 final property tax levy, and adopting the 2024-2033 Capital
Improvement Plan (CIP)
Whereas, The City of St. Louis Park is 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 require approval of a property tax
levy and a budget in December of each year; and
Whereas, the c ity council has received the budget information;
Whereas, there are sufficient funds on hand, the 2024 debt levy is reduced from
$6,418,707.78 to $6,292,502.78
Whereas, the city council of the City of St. Louis Park, Minnesota, has received a
report from the chief financial officer related to proposed capital spending for 2024 -
2033; and
Whereas, it is necessary for the city to maintain and replace its capital assets in
order to enhance the city’s attractiveness to residents and businesses; and
Whereas, good planning is a necessary part of the stewardship that the city council
and staff exercise over the capital assets of the city;
Now therefore, be it resolved, by the city council of the City of St. Louis Park, that
the 2024 General Fund Budget and 2024 Budgets are adopted as presented; and
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2023 2024
Adopted Proposed %
General Fund Revenues:
General Property Taxes 32,041,296$ 34,147,654$ 7%
Licenses and Permits 5,000,977$ 4,796,322$ -4%
Fines & Forfeits 181,000$ 190,000$ 5%
Intergovernmental 2,129,139$ 2,443,282$ 15%
Charges for Services 2,586,338$ 2,602,153$ 1%
Miscellaneous Revenue 1,642,357$ 2,114,980$ 29%
Transfers In 2,865,766$ 5,720,439$ 100%
Investment Earnings 320,821$ 470,000$ 46%
Other Income 502,050$ 467,950$ -7%
Use of Fund Balance - -$ 0%
Total General Fund Revenues 47,269,744$ 52,952,780$ 12.0%
Summary of Budgeted Revenues
Difference
2023 Adopted 2024 Proposed
General Fund Expenditures:
General Government (Admin,RE&I,
Finance/Assessing, HR, Comm Dev, Facilities,
Sustainability, IT, Communications) 11,193,645$ 14,505,291$ 29.59%
Public Safety (police,fire,building)21,793,443$ 23,236,356$ 6.62%
Operations & Recreation (Eng, public works, org
rec, rec center, park maint, WWHC, Natural
resources) 14,282,656$ 15,211,133$ 6.50%
Total General Fund Expenditures 47,269,744$ 52,952,779$ 12.0%
Summary of Budgeted Expenditures
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2023 2024
Adopted Final Proposed
Special Revenue
Housing Rehabilitation Fund
Total Housing Rehab Revenues 2,052,088$ 1,643,564$
Total Housing Rehab Expenditures 2,336,522 1,843,360
CDBG Fund
Total CDBG Revenues 165,000 165,000
Total CDBG Expenditures 165,000 165,000
Cable TV Fund
Total Cable TV Revenues 759,500 698,600
Total Cable TV Expenditures 696,273 544,253
Climate Investment Fund
Total Climate Investment Fund Revenues 100 -
Total Climate Investment Fund Expenditures 183,100 181,000
Affordable Housing Trust Fund
Total Affordable Housing Trust Fund Revenues 1,597,696 1,759,133
Total Affordable Housing Trust Fund Expenditures 2,369,064 2,368,564
Capital Project
Development Fund
Total Development Fund Revenues 5,172,846 5,456,899
Total Development Fund Expenditures 5,127,282 5,075,285
Pavement Management Fund
Total Pavement Management Revenues 4,880,205 4,786,801
Total Pavement Management Expenditures 5,002,290 4,235,490
Park Improvement Fund
Total Park Improvement Revenues 2,079,496 1,348,750
Total Park Improvement Expenditures 2,266,628 1,706,000 Enterprise
Water Utility Fund
Total Water Revenues 9,613,660 9,819,145
Total Water Expenses 8,569,794 12,835,887
Sewer Utility Fund
Total Sewer Revenues 8,792,833 9,886,017
Total Sewer Expenses 8,292,475 9,421,070
Solid Waste Utility Fund
Total Solid Waste Revenues 4,170,097 6,293,227
Total Solid Waste Expenses 4,281,322 6,852,015
Storm Water Utility Fund
Total Storm Water Revenues 3,724,098 3,915,637
Total Storm Water Expenses 4,111,493 3,976,221
Internal Service
Employee Benefits Fund
Total Employee Benefits Revenues 538,000 588,000
Total Employee Benefits Expenses 810,717 962,000
Uninsured Loss Fund
Total Uninsured Loss Revenues 70,000 70,000
Total Uninsured Loss Expenses 248,499 256,975
Building Capital Replacement Fund
Total Building Capital Replacement Revenues 896,142 1,405,288
Total Building Capital Replacement Expenditures 896,142 1,324,490
Vehicle & Equip Capital Replacement Fund
Total Vehicle & Equip Capital Replacement Revenues 1,619,013 1,552,477
Total Vehicle & Equip Capital Replacement Expenditures 1,972,675 1,552,477
IT Capital Replacement Fund
Total IT Capital Replacement Revenues 1,596,140 2,289,504
Total IT Capital Replacement Expenditures 2,341,820 2,682,008
Special Revenue, Select Capital Project Funds,
Summary of Budgeted Revenues and Expenditures
Enterprise and Internal Service Funds
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In coordination with the Long Range Financial Plan, funds that have excess expenditures over
revenues represent a purposeful use of Fund Balance.
Be it further resolved, by the City Council of the City of St. Louis Park, that the
following sums of money be levied in 2023, collectible in 2024, upon the taxable property
in said City of St. Louis Park for the following purposes:
2024
Tax Capacity Based Levy
Final Tax Levy
(Proposed)
General Levy $ 34,147,654
Debt Service 6,292,503
Capital Replacement Funds 2,177,793
Park Improvement Fund 860,000
Employee Benefits Fund 200,000
Total Tax Levies $ 43,677,948
Be it further resolved by the city council of the City of St. Louis Park, that:
1. The 2024 - 2033 Capital Improvement Plan as presented is hereby adopted.
2. The city manager is authorized to purchase or undertake the items included in the
fiscal year 2024 funded portion of the plan as allowed by the city charter and state
statutes.
3. All purchases required to be competitively bid must come before the city council
for final approval.
Reviewed for administration: Adopted by the city council December 18, 2023
Kim Keller, city manager Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: D00CFB11-CFBA-4A9B-A934-D9E8E6377960