HomeMy WebLinkAboutCity Council Packet 12-04-2006 SpecialAgenda
City of Plymouth
Special City Council Meeting
Monday, December 4, 2006
7:00 p.m.
City Council Chambers
1. Call to Order
2. Truth in Taxation Hearing
3. Adj ourn
Agenda Number:
TO: Laurie Ahrens, City Manager
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FROM: Jean McGann, Administrative Services Director
SUBJECT: Truth in Taxation Public Hearing
DATE: December 1, 2006
PROPOSED ACTION
Council is requested to hold a Public Hearing on the City Manager's Recommended 2007
Property Tax Levy and Budget.
2. BACKGROUND
Minnesota State Statute requires that the City hold a Public Hearing to review the 2007 City
Manager's Recommended Property Tax Levy and Budgets. Staff will give an overview of the
recommended budget and property tax levy. The 2007 Recommended Budget has been updated
to reflect Council recommendations and new estimates since the last Study Session. The
modifications to the budget are outlined in the attached memo and included in the budget
document.
3. NEXT STEPS
The City Council has the option to continue the Public Hearing on December 11th if there is not
adequate time to complete discussion. Council will be requested to adopt the 2007 City
Manager's Recommended Budget and Property Tax Levy at the regular City Council meeting on
December 12, 2006.
On January 16, 2007, the Council is scheduled to continue discussion on the Capital
Improvement Program. Once discussions are complete, staff will ask Council to adopt utility
rates. 2006 rates will remain in effect until CIP discussions are complete.
IU1 11
CITY OF PLYMOUTH
3400 PLYMOUTH BOULEVARD, PLYMOUTH,;;MN 55447
DATE: December 1, 2006
TO: Jean McGann, Administrative Services Director
FROM: Mike Kohn, Financial Analyst
SUBJECT: 2007 Budget
The attached 2007 Budget has been updated since the preliminary budget adoption on September
12 of this year. Most funds have seen little if any change. However, a few funds such as Transit,
Water, Sewer and Water Resources have changed significantly. The following is a summary of
changes:
General Fund — The tax levy vand contingency were reduced by $20,000 so that the Recreation
Fund had additional levy to fund the $20,000 increase to Music in Plymouth.
Recreation Fund — Increased by $20,000 to fund additional contribution to Music in Plymouth.
Transit Fund — The changes in the Transit Fund reflect new revenue and expenditure estimates.
This has resulted in a $241,450 budget reduction.
Water Fund — Water Fund revenues and expenditures have been increased to reflect the actual
experience of 2006. Most of these changes were based on the 2006 budget amendment that the
City Council passed a short time ago. In total the Water Fund budget increased by $175,900.
Sewer Fund — The Sewer Fund budget has decreased largely as a result of reducing the amount
of capital projects anticipated for 2007. The major change was the deferral of the Pike Lake
liftstation replacement until a later year. This resulted in a 2007 budget reduction of $1,161,675.
Water Resources Fund — The Water Resources Fund budget has been decreased to more closely
align with availability of funds. Due to a shortage of funding, and/or a surplus of projects,
several projects had to be scaled back or deferred to later years. In addition, some operating
costs were reduced as well. In total the Water Resources budget was reduced by $2,062,500.
Risk Management Fund — The Risk Management Fund budget was increased by $7,000 to
account for wellness activities previously budgeted in another fund.