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HomeMy WebLinkAboutTT December 5, 2005 / CITY OF NDOVE 1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER,MN,US City of Andover Truth in Taxation Hearing 2006 Proposed Budget Monday, December 5, 2005 7:00 p.m. Council Chambers \ I . / 1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER,MN,US TO: Mayor and Councilmembers FROM: SUBJECT: DATE: Jim Dickinson, City Administrator / Finance Director Truth in Taxation Hearing - 2006 Budget December 5,2005 INTRODUCTION This year the Andover City Council is required to hold Truth in Taxation meetings, These meetings give the public the opportunity to comment on the proposed 2006 budget and tax levy, DISCUSSION The first hearing date (December 5, 2005) selected by the City Council is for the initial hearing to present the proposed levy and budget to the public. If the initial hearing is not sufficient for all public comment and further discussion is required, a continuation hearing will be necessary. The date and time of continuation hearing must be announced before the close of the initial hearing, The continuation hearing must occur at least 5 but no more than 14 business days after the initial hearing. If a continuation hearing is not necessary, the City must announce the date and time of a subsequent hearing for the official adoption of the final levy and budget. The announcement must be made prior to the end of the initial hearing. / Attached is some basic financial data that will be reviewed with the Council at the meeting as listed: Pg, I Pg.2 Pg,3 Pg,4 Pg,5-1O Pg, II Pg, l2 Pg,13-l5 Truth in Taxation Advertisement Valuation Estimates 2006 Budget Summary By Fund Type 2006 Budget Summary By Revenue and Expenditure Type 2006 Budgets By Fund Type 2006 General Fund Revenues By Type 2006 General Fund Expenditures By Function Resolution to Approve 2006 Budget and Tax Levy A more detailed presentation that will be provided at the hearing similar to past budget workshops, ACTION REOUIRED The Andover City Council is requested to review the attached financial data in preparation for the Truth-in- Taxation hearing, -. / Notice of Proposed Total Budget and Property Taxes The Andover City Council will hold a public hearing on its budget and on the amount of property taxes it is proposing to collect to pay for the costs of services the City will provide in 2006. SPENDING: The total budget amounts below compare the City's 2005 total actual budget with the amount the City proposes to spend in 2006. 2005 Total Actual Budget $41,013,634 Proposed 2006 Budget $24,489,927 Change from 2005 - 2006 <40.00>% TAXES: The property tax amounts below compare that portion of the current budget I~vied in property taxes in the City of Andover for 2005 with the property taxes the City proposes to collect in 2006. 2005 Property Taxes $7,526,813 Proposed 2006 Property Taxes $8,517,523 Change from 2005 - 2006 13.16% LOCAL TAX RATE COMPARISON: The following compares the City's current local tax rate, the City's tax rate for 2006 if no tax levy increase is adopted, and the City's proposed tax rate for 2006. 2005 Tax Rate 31.076% 2006 Tax Rate if NO Levy Increase 27.421 % 2006 Proposed Tax Rate 31.547% Attend the Public Hearing All Andover city residents are invited to attend the public hearing of the City Council to express their opinions on the budget and on the proposed amount of 2006 property taxes. The hearing will be held on: Monday, December 5, 2005, at 7:00 p.m. Andover City Hall 1685 Crosstown Blvd NW Andover, MN 55304 You are also invited to send your written comments to: / City of Andover, Mayor's Office 1685 Crosstown Blvd NW, Andover, MN 55304 1 J .. .. OJ a:: E w= , > .. OW J 0 6 ~i LL.:! o · ~:: _ 0 Ul;: >. . II. / .s~ .0.. ~ ~~ I%l~ J!!!! .0'" ~~= .n~~ ~.. .. :> .- ..... .> U - .. .. "" :> caii :E> II) o o .. N . >.1- . II. ~.. .. :> .- ~~ U :g..!- 2.g~'; >.,tClQlG ~~:E> ... o o .. N . >.1- . II. ~..!- l;:~~g i:=:I~ 11.1- ... o o .. N . >.1- . II. a.!!- o,g CD CD NC..M:::I >.,1Cii'ii ~~:E> ~.. .. :> .- ~~ U ~.. .. :> .- .... .> U It) M co ~ <ri N ... o o ... ri ;:Ii <ri M It) N ... ~. co ... ri N ... o o co <ri co N ..j .... N N ... 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NO A RESOLUTION ADOPTING THE CITY OF ANDOVER 2006 BUDGET AND 2006 PROPERTY TAX LEVY TO BE CERTIFIED TO THE COUNTY AUDITOR. WHEREAS, the preparation and adoption of budgets is recognized as sound financial practice; and WHEREAS, the City of Andover receives significant financial support from its residents through the payment of property taxes; and WHEREAS, the City of Andover has the responsibility to appropriately and efficiently manage the public's funds; and WHEREAS, Minnesota State Law requires the City to certify to the County Auditor an adopted tax levy and budget prior to December 28, 2005; and WHEREAS, Minnesota State Law requires the City to certifY to the State of Minnesota Department of Revenue an adopted tax levy by December 28,2005. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Andover hereby adopts the 2006 City of Andover Budget and the 2006 property tax levy totaling $8,550,919 as listed on Attachment A. BE IT FURTHER RESOLVED that the City Council of the City of Andover hereby establishes the 2006 City of Andover Budget by fund type as follows: REVENUES EXPENDITURES , I / General Fund $ 7,688,171 General Fund $ 7,906,912 Special Revenue Funds 1,126,698 Special Revenue Funds 1,436,085 Debt Service Funds 6,595,351 Debt Service Funds 7,074,037 Capital Projects Funds 9,593,391 Capital Projects Funds 9,892,707 Enterprise Funds 3,427,832 Enterprise Funds 3,845,587 Internal Service Funds 691,000 Internal Service Funds 759,950 Total $29,122,443 Total $30,915,278 Adopted by the City of Andover this _day of December 2005, CITY OF ANDOVER A TIEST: Michael R. Gamache - Mayor Victoria VoIk - City Clerk / 13 / STATE OF MINNESOTA) COUNTY OF ANOKA ) CITY OF ANDOVER ) I, the undersigned, being the duly qualified and acting City Clerk of the City of Andover, Minnesota, do hereby certify that I have carefully compared the attached Resolution No. _ adopting the City of Andover 2006 Budget and 2006 Property Tax: Levy with the original record thereof preserved in my office, and have found the same to be true and correct transcript of the whole thereof. IN TESTIMONY WHEREOF, I have hereunto subscn1Jed my hand this _ day of December 2005. Victoria Volk. City Clerk ! / 14 CITY OF ANDOVER, MINNESOTA Attachment A Proposed 2006 Property Tax Le\'Y / j 2006 Proposed Levy General Fund Levy $ 5,586,l80 Debt Service Funds Levy 2DOlC G,O. Equipment Certificate 283,537 2D03C G,O, Equipment Certificate 132,180 2D04A G,O. Capital Improvement Bonds 364,788 2004 EDA Public Facility Revenue Bonds 847,350 2DD5B G,O, Capital Improvement Bonds 137,922 2DD5B G,O, Equipment Certificate 65,788 Total Debt Service 1,831,565 Other Levies Fire Levy 54,032 ! Capital Projects Levy / Capital EquipmentlProject 209,296 Parks Proj ects 54,384 Road & Bridge 734,686 Pedestrian Trail Maintenance 47,380 Lower Rum River Watershed 33,396 Gross City Levy $ 8,550,919 15 j;J-5-05 --j;.fJ. :J(Il'l-rrT;/~ HeA--!,-,'n ... Notice of Proposed Total Budget and Property Taxes The Andover City Council will hold a public hearing on its budget and on the amount of property taxes it is proposing to collect to pay for the costs of services the City will provide in 2006. SPENDING: The total budget amounts below compare the City's 2005 total actual budget with the amount the City proposes to spend in 2006. 2005 Total Actual Budget $41,013,634 Proposed 2006 Budget $24,489,927 Change from 2005 - 2006 <40.00>% TAXES: The property tax amounts below compare that portion of the current budget levied in property taxes in the City of Andover for 2005 with the property taxes the City proposes to collect in 2006. 2005 Property Taxes $7,526,813 Proposed 2006 Property Taxes $8,517,523 Change from 2005 - 2006 13.16% LOCAL TAX RATE COMPARISON: The following compares the City's current local tax rate, the City's tax rate for 2006 if no tax levy increase is adopted, and the City's proposed tax rate for 2006. 2005 Tax Rate 31.076% 2006 Tax Rate if NO Levy Increase 27.421% 2006 Proposed Tax Rate 31.547% Attend the Public Hearing All Andover city residents are invited to attend the public hearing of the City Council to express their opinions on the budget and on the proposed amount of 2006 property taxes. The hearing will be held on: Monday, December 5, 2005, at 7:00 p.m. Andover City Hall 1685 Crosstown Blvd NW Andover, MN 55304 You are also invited to send your written comments to: City of Andover, Mayor's Office 1685 Crosstown Blvd NW, Andover, MN 55304 2006 Proposed Levy Less MVHC Levy-Baclf_ Notice of Proposed Total Budget and Property Taxes The Andover City Council will hold a public hearing on its budget and on the amount of property taxes it is proposing to collect to pay for the costs of services the City will provide in 2006. SPENDING: The total budget amounts below compare the City's 2005 total actual budget with the amount the City proposes to spend in 2006. 2005 Total Actual Budget $41,013,634 Proposed 2006 Budget $24,489,927 Change from 2005 - 2006 <40.00>% TAXES: The property tax amounts below compare that portion of the current budget levied in property taxes in the City of Andover for 2005 with the property taxes the City proposes to collect in 2006. 2005 Property Taxes $7,526,813 Proposed 2006 Property Taxes $8,040,019 Change from 2005 - 2006 6.82% LOCAL TAX RATE COMPARISON: The following compares the City's current local tax rate, the City's tax rate for 2006 if no tax levy increase is adopted, and the City's proposed tax rate for 2006. 2005 Tax Rate 31.076% 2006 Tax Rate if NO Levy Increase 27.421% 2006 Proposed Tax Rate 29.672% Attend the Public Hearing All Andover city residents are invited to attend the public hearing of the City Council to express their opinions on the budget and on the proposed amount of 2006 property taxes. 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