CITY OF LAKE ST. CROIX BEACHDecember 15, 2014

Final Proposed Budget and Levy Meeting

2015 Council Goals and Objectives• To provide an orderly and efficient program for capital expenditures

• Increased General Fund expenditures by only 1.52% from 2014 (less than current rate of inflation)

• Created a Special Revenue Fund • Revenues: 10% Gaming revenue and General Fund Transfers• Expenditures: Heritage Days, Community Donations, and Playground and Park

Equipment

• Created a City Hall Building and Maintenance Fund • Revenues: $$ that was set aside to pay the debt service on the City Hall bond • Expenditures: Refer to Facilities Condition Report (TBD)

• To keep the need for public expenditures at the lowest level possible consistent with providing essential services

• To hire a fulltime City Clerk-Administrator to seek out grants, serve as Emergency Management Director, and Code Enforcement Officer, and other services that used to be delegated to other contract staff

• Find new revenues sources, including paying off the City Hall bond and generating new revenue through new fees

2015 Staff Goals and Objectives • To find efficiencies that will reduce staff time and costs

• Codify the city’s code of ordinances

• Eliminate the city’s dependency of LGA to fund city day-to-day operations• Dedicate the city’s LGA funds towards the city’s capital Street Fund• Create a $7,000 contingency fund

2015 Proposed Revenues

• Property taxes account for 68% of the city’s revenues

• For all other cities in Minnesota property taxes account for approximately 46.5%

68%

11%

21%

2015 Proposed Total Fund Revenues

2015 PROPOSED REVENUES

Property Tax Levy

Intergovernmental Revenues

Misc Revenues

2015 Proposed Expenditures

• The two largest expenditure categories are Streets (22%) and Public Safety (23%)

• For all other MN cities the three largest expenditure categories are Public Safety (40.7%), General Government (15.9%), and Streets (15.2%)

22%

15%

23%

6%

19%

16%

2015 Proposed Total Fund Expenditures

Streets

Public Safety

General Government

Parks and Sanitation

Debt Services

Others

Property Tax Levy from 2005-2015

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 $-

$100,000.00

$200,000.00

$300,000.00

$400,000.00

$500,000.00

$600,000.00

$-

$100,000.00

$200,000.00

$300,000.00

$400,000.00

$500,000.00

$600,000.00

Actual 11 Year Average

Property Tax Rates from 2005-2014

• Why did the Property Tax Rate jump in 2012?

• The switch from MVHC to an MV Exclusion Credit

• For additional information click on the below link:

• http://www.revenue.state.mn.us/propertytax/Documents/hmve-taxpayers.pdf2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

0

10

20

30

40

50

60

Actual

10 Year Average

Questions