Loading...
HomeMy WebLinkAbout2017-130RESOLUTION 2017 -130 ADOPTING A BUDGET FOR THE YEAR 2018, SETTING THE CITY LEVY, APPROVING THE HRA LEVY, AND APPROVING A TAX RATE INCREASE. Now, therefore, in accordance with all ordinances and regulations of the City of Columbia Heights, the City Council of the City of Columbia Heights makes the following: ORDER OF COUNCIL Section A. The budget for the City of Columbia Heights for the year 2018 is hereby approved and adopted with appropriations for each of the funds listed below. The estimated gross revenues to fund the budget for the year 2018, including general ad valorem tax levies and use of fund balances, are also as listed below. Section B. The following sums of money are levied for the current year, collectable in 2018 upon the taxable property in said City of Columbia Heights, for the following purposes: Estimated General Fund Levy Estimated Library Levy Estimated EDA Fund Levy Total 9,481,000 919,244 220,100 10,620,344 Revenue Expense Governmental Funds General Fund 11,904,000 13,544,438 PI a nni ng & Inspections 469,682 469,682 Econ Dev Authority Admin 448,242 448,242 Ca bl e Tel evi s i on 227,400 190,331 Libra ry 952,644 952,644 After School Programs 22,000 43,562 Special Project Fund 25,000 95,000 Public Safety - Other - - Capital Project Funds 2,932,500 1,720,659 Debt Service Funds 1,833,520 2,428,120 Debt Principal Proprietary Funds Capital Assets Paid (Advanced) Water Fund 3,309,564 2,868,462 87,500 (70,000) Sewer Fund 2,063,310 2,247,539 27,500 (196,712) Refuse Fund 2,067,228 2,195,880 - Storm Sewer Fund 493,375 606,084 (76,288) Liquor Fund 8,943,200 8,803,000 - 185,000 Central Garage 686,885 723,060 45,500 - Building Maintenance 205,500 205,448 - - Information Systems 337,000 387,575 - Use of Fund Balance 1,008,676 - 60,000 Total Including Interfund Transfers 37,929,726 37,929,726 220,500 (158,000) Section B. The following sums of money are levied for the current year, collectable in 2018 upon the taxable property in said City of Columbia Heights, for the following purposes: Estimated General Fund Levy Estimated Library Levy Estimated EDA Fund Levy Total 9,481,000 919,244 220,100 10,620,344 City of Columbia Heights - Council Resolution 2017 -130 Page 2 Section C. The City Council of the City of Columbia Heights hereby approves the Housing and Redevelopment Authority Tax Levy for the fiscal year 2018 in the amount of $224,592. BE IT FURTHER RESOLVED: That the County Auditor is authorized to fix a property tax rate for taxes payable in the year 2018 that is higher than the tax rate calculated for the City for taxes levied in 2016 collectable in 2017. BE IT FURTHER RESOLVED: That the City, pursuant to Resolution 2015 -07, will call and redeem on February 1, 2018, all outstanding bond principal and interest payments on General Obligation Bond Series 20088, and that the County Auditor is authorized to cancel the related Bond Levy in its entirety for taxes payable in 2018 and all subsequent years. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2009A in the amount of $10,000 and that the County Auditor is authorized to cancel $10,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $227,349 to be levied for taxes payable in 2018 for Series 2009A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2015A in the amount of $270,000 and that the County Auditor is authorized to cancel $270,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $214,667 to be levied for taxes payable in 2018 for Series 2015A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2017A in the amount of $329,989 and that the County Auditor is authorized to cancel $329,989 of the related Bond Levy for taxes payable in 2018, leaving a balance of $0 to be levied for taxes payable in 2018 for Series 2017A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2017B in the amount of $300,000 and that the County Auditor is authorized to cancel $300,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $262,553 to be levied for taxes payable in 2018 for Series 20178. The Finance Director /Treasurer is hereby instructed to transmit a certified copy of this resolution to the County Auditor of Anoka County, Minnesota. Approved this 11th day of December, 2017 Offered By: Buesgens Seconded By: Novitsky Roll Call: Ayes: Schmitt, Williams, Murzyn, Jr., Buesgens, and Novitsky ' 0 A4< &kV- K �-� Mayor Donna Schmitt Attest: 4tu'&w Katie Bruno City Clerk /Council Secretary