HomeMy WebLinkAbout24-164 - ADMIN Resolution - City Council - 2024/12/16
Resolution No. 24-164
Adopting the 2025 general fund budget, other 2025 budgets, authorizing
the 2025 final property tax levy, and adopting the 2025- 2034 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 city council has received the budget information; and
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 2025 -
2034; 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 2025 General Fund Budget and 2025 Budgets are adopted as presented; and
Summary of Budgeted Revenues
2024 Adopted
2025 Final
Proposed Difference %
General Fund Revenues General Property Taxes 34,147,654 38,808,815 14%
Licenses and Permits 4,986,322 4,406,620 -12%
Intergovernmental 2,443,282 3,887,106 59%
Charges for Services 2,602,153 2,674,025 3%
Miscellaneous Revenue 2,582,930 2,101,105 -19%
Investment Earnings 470,000 500,000 6%
Transfers In 5,720,439 2,555,573 -55%
Use of Fund Balance 0 559,000 Total General Fund Revenues $ 52,952,780 55,492,244 5%
Docusign Envelope ID: AFBC3F62-0817-4D90-A6B4-6110F5D71FA3
Summary of Budgeted Expenditures
2024 Adopted
2025 Final
Proposed Difference %
Admin, RE&I, Finance/Assessing, HR,
Comm Dev, Facilities, Sustainability, IT,
Communications
14,505,291
14,798,355
2%
Police, Fire, Building 23,236,356
24,626,788 6%
Eng, Public Works, Org Rec, Rec Center,
Park Maint, WWHC, Natural Resources 15,211,133
15,546,158
2%
Transfers Out
1,050,037
$ 52,952,779
56,021,338 6%
Summary of Interfund Transfers
2025 Budget
*Other Transfers may occur in 2025 including TIF related transfers (i.e. to AHTF may occur in 2025)
and ISF related transfers, all transfers will be approved by council prior to the passing of the 2025
Annual Comprehensive Financial Report*
Generally, transfers are used to (1) move revenues from the fund that collects them to the fund that the
budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting
the receipts to a debt service fund in accordance with bond documents, (3) move funds in accordance
with the city’s adopted capital improvement plan to support project costs, and (4) use unrestricted
revenues collected in the General Fund to finance various programs accounted for in other funds in
accordance with city policy.
Docusign Envelope ID: AFBC3F62-0817-4D90-A6B4-6110F5D71FA3
Special Revenue, Select Capital Project Funds, Summary of Budgeted Revenues and
Expenditures, Enterprise and Internal Service Funds
2024
Adopted 2025 Final
Proposed
Special Revenue Housing Rehabilitation Fund Total Housing Rehab Revenues 1,643,564 747,050
Total Housing Rehab Expenditures 1,843,360 810,419
CDBG Fund Total CDBG Revenues 165,000 165,000
Total CDBG Expenditures 165,000 165,000
Cable TV Fund Total Cable TV Revenues 698,600 616,397
Total Cable TV Expenditures 544,253 635,367
Climate Investment Fund Total Climate Investment Fund Revenues 0 0
Total Climate Investment Fund Expenditures 181,000 183,000
Affordable Housing Trust Fund Total Affordable Housing Trust Fund Revenues 1,759,133 1,228,250
Total Affordable Housing Trust Fund Expenditures 2,368,564 2,697,050
Capital Project Development Fund Total Development Fund Revenues 5,456,899 4,646,969
Total Development Fund Expenditures 5,075,285 4,817,871
Pavement Management Fund Total Pavement Management Revenues 4,786,801 5,304,840
Total Pavement Management Expenditures 4,235,490 5,178,590
Park Improvement Fund Total Park Improvement Revenues 1,348,750 1,430,000
Total Park Improvement Expenditures 1,706,000 1,630,000
Enterprise Water Utility Fund Total Water Revenues 9,819,145 10,153,437
Total Water Expenses 12,835,887 11,292,154
Sewer Utility Fund Total Sewer Revenues 9,886,017 10,250,790
Total Sewer Expenses 9,421,070 9,518,407
Solid Waste Utility Fund Total Solid Waste Revenues 6,293,227 7,330,565
Total Solid Waste Expenses 6,852,015 6,884,779
Storm Water Utility Fund Total Storm Water Revenues 3,915,637 4,543,582
Total Storm Water Expenses 3,976,221 4,998,336
Internal Service Employee Benefits Fund Total Employee Benefits Revenues 588,000 647,175
Total Employee Benefits Expenses 962,000 425,000
Uninsured Loss Fund Total Uninsured Loss Revenues 70,000 100,000
Total Uninsured Loss Expenses 256,975 255,841
Docusign Envelope ID: AFBC3F62-0817-4D90-A6B4-6110F5D71FA3
Building Capital Replacement Fund Total Building Capital Replacement Revenues 1,405,288 2,352,318
Total Building Capital Replacement Expenditures 1,324,490 685,031
Vehicle & Equip Capital Replacement Fund Total Vehicle & Equip Capital Replacement Revenues 1,552,477 1,164,358
Total Vehicle & Equip Capital Replacement
Expenditures 1,552,477 1,869,000
IT Capital Replacement Fund Total IT Capital Replacement Revenues 2,289,504 1,538,465
Total IT Capital Replacement Expenditures 2,682,008 1,738,578
Total Revenues
$
51,678,042
$
52,219,196
Total Expenditures
$
55,982,095
$
53,784,423
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 2024, collectible in 2025, upon the taxable property in said City of
St. Louis Park for the following purposes:
Tax Capacity Based Levy
2025
Final Tax Levy
General Levy $38,808,815
Debt Service
6,856,221
Capital Replacement Fund: Municipal Buildings and Infrastructure 685,031
Capital Replacement Fund: IT 1,538,465
Park Improvement Fund 510,000
Employee Benefits Fund 200,000
Total Tax Levies $48,598,532
Be it further resolved by the city council of the City of St. Louis Park, that:
1. The 2025 - 2034 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
2025 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 16, 2024:
Kim Keller, city manager Nadia Mohamed, mayor
Attest:
Melissa Kennedy, city clerk
Docusign Envelope ID: AFBC3F62-0817-4D90-A6B4-6110F5D71FA3