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HomeMy WebLinkAbout2018-50RESOLUTION 2018 -50 ADOPTING A PROPOSED BUDGET FOR THE YEAR 2019, SETTING THE PROPOSED CITY LEVY, APPROVING THE HRA LEVY, APPROVING A TAX RATE INCREASE, AND ESTABLISHING A BUDGET HEARING DATE FOR PROPERTY TAXES PAYABLE IN 2019. Now, 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 2019 is hereby approved and adopted with appropriations for each of the funds listed below: Governmental Funds General Fund Planning & Inspections Economic Development Authority Admin. Cable Television Library After School Programs 21st Century Arts Downtown Parking Capital Project Funds Debt Service Funds Proprietary Funds Water Fund Sewer Fund Refuse Fund Storm Sewer Fund Liquor Fund Municipal Service Center Information Systems Use of Fund Balance Total Including Interfund Transfers Revenue 12,502,000 503,600 244,600 217,425 1,002,700 22,000 25,000 7,031,125 1,619,529 3,391,050 2,100,773 2,089,308 890,197 8,923,400 911,750 387,000 7.019.813 Expense 12,678,477 503,600 244,600 204,325 1,002,700 44,300 45,300 25,000 13,869,746 1,819,100 2,976,683 2,312,335 2,007,887 981,068 8,794,800 973,349 398,000 Capital Assets 452,500 27,500 43,600 48,881,270 48,881,270 523,600 Debt Principal Paid (Adv.) 186,000 53,400 73,600 245,000 558,000 Section B. The following sums of money are levied for the current year, collectable in 2019 upon the taxable property in said City of Columbia Heights, for the following purposes: Estimated General Fund Levy 10,071,000 Estimated Library Levy 955,095 Estimated EDA Fund Levy 242,100 Total 11,268,195 City of Columbia Heights - .Council Resolution 2018 -50 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 2019 in the amount of $ 247,000 BE IT FURTHER RESOLVED: That the public budget hearing is scheduled for December 10, 2018 at approximately 7:00 p.m. in the City Council Chambers. BE IT FURTHER RESOLVED: That the County Auditor is authorized to fix a property tax rate for taxes payable in the year 2019 that is higher than the tax rate calculated for the City for taxes levied in 2017 collectable in 2018. 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 $25,000 and that the County Auditor is authorized to cancel $25,000 of the related Bond Levy for taxes payable in 2019, leaving a balance of $205,329 to be levied for taxes payable in 2019 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 $275,000 and that the County Auditor is authorized to cancel $275,000 of the related Bond Levy for taxes payable in 2019, leaving a balance of $206,254 to be levied for taxes payable in 2019 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 $335,344 and that the County Auditor is authorized to cancel $335,344 of the related Bond Levy for taxes payable in 2019, leaving a balance of $0 to be levied for taxes payable in 2019 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 $295,000 and that the County Auditor is authorized to cancel $295,000 of the related Bond Levy for taxes payable in 2019, leaving a balance of $268,446 to be levied for taxes payable in 2019 for Series 2017B. 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 24th day of September, 2018 Offered By: Buesgens Seconded By: Murzyn, Jr. Ayes:4 Nays:0 Ayes: Buesgens, Murzyn, Jr., Williams and Novitsky Co cil President, Nick Novitsky / "i Katie Bruno City Clerk /Council Secretary