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Home My WebLink AboutCity Council - 12/09/1992'\ 'li . , AGENDA EDEN PRAIRIE CITY COUNCIL 1993PlHALTAX LIYX AND GENERAL PUHQ BUDGET HEARING WEDNESDAY, DECEMBER 9, 1992 COUNCILMEMBERS: CITY COUNCIL STAFF: PLEDGE OF ALLEGIANCE ROLL CALL 7:30 PM, City Council Chamber, 7600 Executive Drive Mayor Douglas Richard Anderson, H. Martin Jessen, pidcock B. Tenpas, Jean Barris, and Patricia City Manager Carl J. Jullie, Assistant to the City ~ager Craig W. Dawson, Finance Director John Frane, Director of Assessing Steve Sinell, Accountant . Sara Ruth, and Council Recorder Jan Nelson I. 1993 PINAL TAX LEVY AND GENERALPUND BUDGET HEARXII II. ESTABLISH PATE TO RECONVENE HEARING tIP NECESSARY) III. ADOPTION OP RESOLUTION CERTIPYING 1993 TAX LEVI. UP APPROVING GENERAL PUNQ BUDGET IV. ADJOURNMENT .j ~ CITY OF EDEN PRAIRIE HENNEPIN COUNTY, MINNESOTA RESOLUTION NO. A RESOLUTION CERTIFYING THE 1992 TAX LEVY, COLLECTIBLE IN 1993 AND ADOPTING THE 1993 GENERAL FUND BUDGET BE IT RESOLVED BY THE CITY COUNCIL of the City of Eden Prairie, county of Hennepin, Minnesota, that the following sums of money be levied for the current year, collectible in 1993 upon the taxable property in said city of Eden Prairie for the following purposes: General Fund Fire Relief Bonds and Interest 1989 Park Bonds (Ref) Transportation System Bonds 1989 city Services Bonds (Ref) 1986 Fire Bonds Equipment Certificates 1992 Park Bonds (Referendum)* $10,980,000 261,000 325,000 500,000 230,000 236,000 928,000 $ 65,000* $13,525,700 *To be levied against Estimated Market Value Only. Funds have been provided for principal and interest payments on all bond issues except as shown above and no other levies are required (as shown on Exhibit 1). The net tax levies are anticipated to total $12,262,273 following receipt of Housing and Agricultural Credit Aid (HACA) revenues from the State of Minnesota and distribution from the metropolitan tax-base sharing ("fiscal disparities") program. BE IT FURTHER RESOLVED that the City Council declare its compliance with the "Truth-in-Taxation" requirements having published a Notice of Proposed Property Tax and Budget Hearing in the Eden Prairie News on December 3, 1992, and conducting the hearing on December 9, 1992. BE IT YET FURTHER RESOLVED that, with conclusion of the Proposed Property Tax and Budget Hearing, the City Council approves the 1993 General Fund budget. The City Clerk is hereby instructed to transmit a certified copy of this resolution to the County Auditor of Hennepin County, Minnesota. ADOPTED this 9th day of December 1992. Douglas B. Tenpas, Mayor ATTEST: John D.Frane, City Clerk TO: THROUGH: FROM: DATE: SUBJECT: MEHORANJ)Ul( Mayor and city council Carl J. Ju11ie, city Manager Craig W. Dawson, Assistant to the city Manager~ December 9, 1992 Tax Levy and General Fund Budget Adoption Process The Council is beginning the final stage of the state's lengthy process for setting tax levies and general operating budgets. On September 15, 1992., the City council adopted Resolution No. 92-200 in which it: 1) certified the 1993 proposed tax levies, which in aggregate establish the maximum property taxes which are finally levied; 2) Approved the proposed 1993 General Fund budget; and 3) Set the dates for the 1993 Final Tax Levy and Budget as December 9 and, if necessary, December 16. The Council must adopt a resolution certifying the final tax levies and approving the final General Fund budget at the conclusion of the hearing. It may not take final action at a regular Council meeting. The resolution to certify the levy and approve the budget is attached. cwo: jdp Attachment J . 1993 PrQpOSed Dudlet mlblilbts General • Provides for steady, minor, planned enhancements • No new major programs offered except: * First installment on 1992 park referendum bonds -$65 ,000 * First year operation of new ice s~eet -$52,000 net cost • Responds to changes in legislation and the economy * $150,000 in sales taxes (City was tax-exempt until June 1992) * Additional $200,000 for property tax abatements ) ,"- Local Economy Ij . ~ , I , 1993 Proposed ~dBt Hi&bliahts i I • Development activity suggests redession is easing I New Residential New Co~ercial Total Bldg. Units Permitted Bld.:s. P~rmitted Permits Ya1U~ 10/92 1991 1990 1989 / 539 427 361 576 I 4 I 5 8 13 1318 . 119~ 1177 1232 , $100,800,000 86,900,000 80,500,000 113,800,000 . • City population for year 2000 estlmated to be 54,000 - a 25 % increaSe • Metropolitan Council ranks Eden IPrairie I * 1st in job growth • * 2nd in household increase in the metropolitan area through 4020 , ,; .. - , \ • 1993 Proposed Budpt mghlights Financial • Net tax levy to increase $150,000, or 1.24% • Non-tax revenues (e.g., liquor profits) to decline $250,000, or 3.9% • Spending for operations and obligations to decrease $125,000, orO~7~ • Twin Cities' CPI estimated to increase 3.0% Population estimated to grow 2.8% 5.8% • Budget changes provide same level and array of services well within goal of limiting tax increases to growth + inflation for two years in a row Net tax levy change Spending change Growth + inflation Pay 92 0.69% , 7.40% 5.50% Pay 93 1.24% -0.70% 5.8% 1.93% 6.70% 11.6% / (: 1993 Proposed Budlet ffilbJilbts Tax Changes , • 1993 completes Legislature's transition to new formulas for taxable values * Tax structure is still progressive, but has provided sonte relief~for higher-value homesteads; burden is shifted t() low .. and moder.ate- priced residences • Significant reductions in values of a number of commercial/iDdustrial . properties due to weakened real estate market * Tax shift occurs from commercial/industrial to all residences • City tax base decreased 12.6% for 1993 budget 6.0% for 1992 budget J " ~ WHAT WOULD HAPPEN WITH NO INCREASE IN THE 1993 NET TAX LEVY -If City's Net Tax Levy Remained at $12,112,300 HOMESTEAD 1992 1993 TAX VALUE TAX WOULD BE CHANGE $75,000 $176 $202 4$26 $100,000 $289 $331 +$42 $125,000 $413 $461 +$48. $150.,000 $554 $590 +$36 $175,00.0 $695 $719 +$24 $200,000 $836 $848 +$12 $300,00.0 $1,401 $1,364 -$37 $400,000 $1,965 $1,881 -$84 $500,0.00 $2,529 $2,397 -$132 CHANGE IN TAX DUE TO 1.24% INCREASE IN PROPOSED NET TAX LEVY 1992 Net Tax Levy = $12,112,300 1993 Net Tax Levy = $12,262,30.0 1993 Tax 1993 Tax Homestead If City Levy If City Levy Value = $12.112,300 = $ 12.262.300 Difference $75,000 $202 $204 +$2 S100,000 ' $331 $333 +$2 $125,000. $461 $463 +$2 $150,000 $590 $593 +$3 $175,000 $719 $723 +$4 S200,00.0 $848 $853 +S5 $300,000 $1,364 $1,372 +$8/( -$29)* $400.,0.0.0 $1,881 $1,892 +$11/( -$75)* $500,000 $2,397 $.2,411 +$14/(-$118)* - * (-xxx) notes the net reduction in City property taxes compared to 1992. 12/3/92 \ Value Ranges for Residential Properties for 1992 pay 1993 Value Range # of Properties % of Total $ o to 75,000 2090 16.88% 75,000 to 100,000 2830 22.86% 100,001 to 125,000 2955 23.870/0 125,001 to 150,000 1678 ' 13.56% 150,001 to 175,000 1055 8.52% 175,001 to 200,000 569 4.60% 200,001 to 300,000 845 6.83% 300,001 to 400,000 229 1.85% 400,001 to 900,000 125 1.01 % over 900,000 3 0.02% Totals 12379 100.00% Residential properties include single family, townhouse, condo, twinhomes, and double bungalows. Apartment properties are not included. Average value is $125,326. Value Ranges of Residential Properties $ 0 to 75,000 75,000 to 100,000 1iliiiii~,=~=~ 100,001 to 125,000 125,001 to 150,000 __ _ 150,001 to 175,000 175,001 to 200,000 -lii~==r 200,001 to 300,000 300,001 to 400,000 400,001 to 900,000 Over 9,00,000 o SOO 1000 1500 2000 2500 3000 3500 Number of Housing Units ,/ ',f ) , ~ Proposed Taxes Payable 1993 , Misc. City of E.P. Henn. Co. I' :,~.? Tax Rates PSlll 92 fSlll ~3 . As a % of total tax Eden Prairie 22.574% 25.837% 18.59% ISO No. 272 58.878% 70.249% 50.54% Hennepin County 34.327% 35.736% 25.71% Miscellaneous 6.165% 7.181% 5.17% Total 1'21.944% 139.003% 100% City of Eden. Prairie 12/92 e Expenditures 1992· General Government 11.4 Debt Service 9.6 Comm. Development 8.4 Employee Benefits 9.~ Public Safety 21 Capital P(ojects 7.5 Expenditures 19·93 Parks & Rec. 17 General Government 12.8 Debt Service 11.3 Comm. Development 8.2 Employee Benefits 10.1 Public Safety 22.9 Capital Projects 0% .~ -5' Statimg 1993 Froposed Budget Hi&hHlbts I' / • Proposed budget shows addition of 4.5 positions * ~1992 budget removed 5 positions * 1993 budget will still have less stafT than in 1991 while City population has grown by 6% • Included in salary adjustments are changes requir~ to maintain compliaD.c~ with state-mandated Pay Equity/Comparable Worth Act • Benefit program, compared annually to other metro cities, school districts and private sector, maintains competitive standing * Costs for health and dental insurance appear to have stabilized due tQ' . "'. cost-containment strategies undertaken by the City , I y. 1993 PrQposed BucJ&et Hi&bD&bts Capital Planning • . New Facilities * Move City Hall to 8100 Mitchell Road -August 1993 * Move Police to 8100 Mitchell Road --Fall 1994 Other moves by Fall 1994 due to Mitchell . RoadIHighway;212 interchange: • Parks and Public works Maintenance Building • Fire Station No.1 • These improvements and * Park acquisition & development * Indoor and outdoor swimming pool improvements * Southwest fire station / can be accomplished by 1997 with no increase in the spending level for debt obligations .\ . . \ \ •. 1, 1993 PrQpOsed Bud&e1: Wahli&hts Summary • Budget is responsive and reasonable * * * , Spending decreases for operations and debt from $18,308 ,000 to< $18,183,000, or 0.7% Goal to limit spending increase to growth + inflation would be 5.8%. Net taxes would increase 1.24% • Services are maintained, and in several cases enhanced, while the City's customer base is growing 3% ~ Plans are made for upcoming capital improvements • City remains in compliance with several mandates • Budget recognizes continued strong growth in customer base and their future needs budhigh '1 / "",---, I City of Eden Prairie . :\ ,,( '. )', .' I :,;, Truth-in-Taxation , , ~ , -, 1993 Proposed Budget Summary,' \ \ ! December 1992) .' , \ .' "/' /, . -, "\ ......... , : " ! ~ \. { \ , , Notice of Proposed Property Taxes The Eden Prairie City Council will soon hold a public budget hearing to vote on the amount of property taxes to collect to pay for services the City will provide in 1993. Attend the Public Hearing All Eden Prairie residents are invited to attend the public hearing of the City Council to express their opinions on the budget and the proposed amount of property taxes on: Wednesday, December 9, 1992 7:30 p.m. Council Chamber Eden Prairie City Offices 7600 Executive Drive Eden Prairie Should it be necessary to reconvene the public hearing, it will be held on \'Vednesday, December 16, at the same time and place. Eden Prairie News, December 3, 1992; page 8 r Your Proposed Property Tax for 1993 The amounts of property tax shown below are being proposed by your county, city/town and school district I11III ROUND LAKE RD ~PRAIRIE MN 55346 .... ~ PID NO: OS-116-22 __ _ -ROUND LAKE RD MUNIC 61 The market values shown below are final and are not a subject for the upcoming budget hearings. They were discussed at the local board of review and the county board of equalization hearings held earlier this year. Final Market Value for 1992 taxes: Final Market Value for 1993 taxes: RES HOMESTEAD. 120,900 120,900 Your county board of commissioners, your school board and your city councilor township electors will hold meetings soon to decide on the amount of property taxes to collect in 1993 to pay for services they provide. The county board and city councilor township electors will also discuss their proposed budget for 1993 and the school board will discuss its budget for th~ current ~chocl ycor. The first column of figures below shows the 1992 property tax you paid to your county, school district, city or town, and special taxing districts. The second column of figures below shows the total amounts of property tax your county, school district and city or town will collect from you in 1993 if they approve the property tax amounts they are now considering. Any upcoming referendums, legal judgments, natural disasters and special assessments could result in increasing these amounts. The amounts shown below for special taxing districts -such as watershed districts -are the totals for all special taxing districts in which your property is located. No meeting is required for these districts. Your county commissioners, school board members and city councilor township electors invite you to attend their meetings at the times and places shown below to express your opinions on the proposed property tax amounts for 1993. If you cannot attend the meetings, you may send your comments to the addresses listed below in the left column. County of Hennepin HEmlEPHI COUNTY A2400 GOVERNMENT CTR MINNEAPOLIS MN 554S7 348-3011 City of EDEN PRAIRIE CITY OFFICES 7600 EXECUTIVE DRIVE EDN PRAIRIE MN 55344 937-2262 School District 272 EDEN PRAIRIE SCHOOLS 8100 SCHOOL RD EDN PRAIRIE MN 55344 937-3620 Special Taxing Dist Fiscal Disparity Tax Increment Other Districts Totals <Excluding Special Assessments) Your Property Tax For 1992 $593.17 $390.07 $1,026.27 $97.67 $2,107.18 Property Tax Proposed For 1993 $607.25 $441. 90 $1,211.40 $102.91 $2,363.46 Increase or Decrease Over 1992 14.0S 51.83 185.13 5.24 256.28 Percen·t Increase or Decrease Budget Hearing Dates, Times and Locations 2.4/' DEC OS, 1992 5:30 P~ COMMISSIONER BD ROOM A2400 GOVERNMENT CTR MPLS f'1N 55487 13.3/. DEC 09, 1992 7:30 p~ C1lY OfFICES COUNCI L CHAt·1BER 7600 EXECUTIVE DRIVE EDN PRAIRIE MN 55344 lS.0/. DEC 07, 1992 7:00 pf' ADMIN SERVICES CNTR S100 SCHOOL RD EDN PRAIRIE MN 55344 No meeting required No meeting required 5.4/' No meeting required 12.27. THIS IS NOT A BILL -DO NOT PAY Changes in Population 1989 1990 1991 1992 1993 Residents 37,880 39,311 40,500 41,800 43,000 Employment 31,518 35,835 37,000 37,500 39,000 Total 69,398 75,146 77,500 79,300 82,000 Change in Residents +8.5% +3.8% +3.0% +3,2% +2,8% Change in Total +4.4% +8.3% +3.1% +2.3% +3.4% City of Eden Prairie 12/92 ., .' CHANGES IN REVENUES 1990 1991 1992 1993 Actual Actual Adj Budget Proposed Net Tax Levy 11,070,646 12,029,510 12,112,274 12,262,273 All Other Revenues 5,064,182 5,014,394 6,195,426 5,920,627 Total Revenues 16,134,828 17,043,904 18,307,700 18,182,900 % Change in Net Tax Levy 8.7% 0.7% 1.2% % Change in Total Revenues 5.6% 7.4% -0.7% % Change in Population 2.6% 2.4% 2.8% % Change in CPI 4.3% 3.1% 3.0% NET TAX LEVY CONSTANT DOLLAR ANALYSIS Net Tax Levy in Constant Dollars (1990= base) 11,070,646 11,512,241 11,232,111 11,030,074 % Change 4.0% -2.4% -1.8% 12/3/92 ., ~ Proposed Taxes Payable 1993 'Misc. City of E.P. Henn. Co. ---------- Tax Rates Pay 92 Pay 93 As a % of total tax Eden Prairie 22.574% 25.837% 18.59% ISO No. 272 58.878% 70.249% 50.54% Hennepin County 34.327% 35.736% 25.71% Miscellaneous 6.165% 7.181% 5.17% Total 121.944% 139.003% 100% City of Eden Prairie 12/92 Value Ranges for Residential Properties for 1992 pay 1993 Value Range # of Properties 0/0 of Total $ o to 75,000 2090 16.88% 75,000 to 100,000 2830 22.86% 100,001 to 125,000 2955 23.87% 125,001 to 150,000 1678 13.56% 150,001 to 175,000 1055 8.52% 175,001 to 200,000 569 4.60% 200,001 to 300,000 845 6.83% 300,001 to 400,000 229 1.85% 400,001 to 900,000 125 1.01 % over 900,000 3 0.02% Totals 12379 100.000/0 Residential properties include single family, townhouse, condo, twinhomes, and double bungalows. Apartment properties are not included. Average value is $125,326. Value Ranges of Residential Properties $ 0 to 75,000 75,000 to 100,000 100,001 to 125,000 125,001 to 150,000 150,001 to 175,000 175,001 to 200,000 200,001 to 300,000 300,001 to 400,000 400,001 to 900,000 Over 900,000 o 500 1000 1500 2000 2500 3000 3500 Number of Housing Units TOTAL BUDGETED REVENUES 1990 Actual 1991 Actual 1993 Pro osed REVENUE %OF REVENUE %OF REVENUE %OF I.AMOUNT OTAL . AMOUNT OT AMOUNT·· OTAL TAXES $10,579,538 65.6% $11,578,396 67.9% $11,822,274 64.6% $11,948,273 65.3% FISCAL DISPARITIES $432,613 2.7% $647,890 3.8% $694,524 3.8% $727,755 4.0% STATE AID/HACA $354,741 2.2% $25,373 0.1% $42,202 0.2% $535,672 2.9% OTHER GOVERNMENTS $529,312 3.3% $373,135 2.2% $416,500 2.3% $375,900 2.1% LICENSES $142,439 0.9% $151,365 0.9% $130,000 0.7% $130,000 0.7% PERMITS, FEES, FINES $2,433,779 15.1% $2,419,274 14.2% $2,629,000 14.4% $3,183,700 17:4% INVESTMENTS $166,620 1.0% $236,013 1.4% $200,000 1.1% $150,000 0.8% TRANSFERS IN $382,219 2.4% $437,405 2.6% $609,800 3.3% $417,000 2.3% MISCELLANEOUS $1,113,567 6.9% $610,330 3.6% $793,800 4.3% $527,500 2.9% .t:: .:-. USE AND/OR RESERVATION OF FUND BALANCE 0.0% $564,723 3.3% $969,600 5.3% $187,100 1.0% TOTAL $16,134,828 100.0% $17,043,904 100.0% $18,307,700 100.0% $18,182,900 99.3% TAXES = gross levy -fiscal disparities -HACA -delinq allowance + delinqs & penalties paid 12/3/92 Expenditures 1992 General Government 11.4 Debt Service 9.6 Comm. Development 8.4 Employee Benefi ts 9.8 Public Safety 21 Capital Projects 7.5 Expenditures 1993 General Government 12.8 Debt Service 11.3 Parks & Rec. 17 Comm. Development 8.2 Employee Benefits 10.1 Public Safety 22.9 Capital Projects 0% ~ CHANGES IN EXPENDITURES 1990 1991 1992 1993 Actual Actual Adj Budget Proposed General Fund 12,885,177 14,740,358 15,819,800 15,510,400 Fire Relief 228,018 268,142 388,500 388,500 Debt Service Funds 1,929,710 2,035,404 1,798,400 2,284,000 Transportation Improvements 0 0 301,000 0 Total Expenditures 15,042,905 17,043,904 18,307,700 18,182,900 % Change in Total Expenditures 13.3% 7.4% -0.7% % Change in Population 2.6% 2.4% 2.8% % Change in CPI 4.3% 3.1% 3.0% CONSTANT DOLLAR ANALYSIS Total Expenditures in Constant Dollars (1990=base) 15,042,905 16,311,016 16,977,334 16,355,755 % Change 8.4% 4.1% -3.7% 12/3/92 TOTAL BUDGETED SPENDING % % 1992 % % 1990 change 1991 change Estimated change 1993 change Actual 89-90 Actual 90-91 Actual 91-92 Proposed 92-93 General Fund -operations 12,821,177 9.1% 13,883,558 8.3% 14,689,800 5.8% 15,503,400 5.5% -reservations 64,000 -43.9% 856,800 1238.8% 1,130,000 31.9% 7,000 -99.4% Fire Relief Fund 228,018 90.0% 268,142 17.6% 388,500 44.9% 388,500 0.0% Debt Service Funds 1,929,710 41.7% 2,035,404 5.5% 1,798,400 -11.6% 2,284,000 27.0% Transportation Improvements 0 0 301,000 0 15 2042 2905 12.6% 17 2043 2904 13.3% 18 2307 2700 7.4% 18 2 182 2900 -0.7% Designations of Fund Balance: New City Hall 661,800 700,000 Capital Facilities Program 400,000 PW IParks Storage Bldg 50,000 175,000 Severance Obligations 14,000 20,000 30,000 7,000 12/3/92 Major Property Class Rate Changes Homesteads Apartments Commercial & Industrial Pay 91 $0 -$68,000 1.00% $68,001 -$110,000 2.00% $110,000 + 3.00% 3.60% $0 -$100,000 3.20% $100,001 + 4.95% Pay 92 $0 -$72,000 1.00% $72,001 -$115,000 2.00% $115,001 + 2.50% 3.50% $0 -$100,000 3.10% $100,001 + 4.75% City of Eden Prairie Tax Capacity (Taxable Value) Gross Value $73,273,891 $69,606,140 less: Fiscal Disparity $14,368,852 $14,421,779 T.I.F. $1,725,876 $1,521,637 Net Value $57,179,163 $53,662,724 (6% less than Pay 91) Pay 93 $0 -$72,000 1.00% $72,000 + 2.00% 3.40% $0 -$100,000 3.00% $100,001 + 4.70% $62,060,460 $14,153,699 $1,007,108 $46,899,653 (12.6% less than Pay 92) WHAT WOULD HAPPEN WITH NO INCREASE IN THE 1993 NET TAX LEVY If City's Net Tax Levy Remained at $12,112,300 HOMESTEAD 1992 1993 TAX VALUE TAX WOULD BE CHANGE $75,000 $176 $202 +$26 $100,000 $289 $331 +$42 $125,000 $413 $461 +$48 $150,000 $554 $590 +$36 $175,000 $695 $719 +$24 $200,000 $836 $848 +$12 $300,000 $1,401 $1,364 -$37 $400,000 $1,965 $1,881 -$84 $500,000 $2,529 $2,397 -$132 CHANGE IN TAX DUE TO 1.24% INCREASE IN PROPOSED NET TAX LEVY 1992 Net Tax Levy = $12,112,300 1993 Net Tax Levy = $12,262,300 1993 Tax 1993 Tax Homestead If City Levy If City Levy Value = $12,112,300 = $12,262,300 Difference $75,000 $202 $204 +$2 $100,000 $331 $333 +$2 $125,000 $461 $463 +$2 $150,000 $590 $593 +$3 $175,000 $719 $723 +$4 $200,000 $848 $853 +$5 $300,000 $1,364 $1,372 +$8/( -$29)* $400,000 $1,881 $1,892 +$11/(-$75)* $500,000 $2,397 $2,411 +$14/(-$118)* * (-xxx) notes the net reduction in City property taxes compared to 1992. 12/3/92 CITY TAX LEVY (Residential) $75,000 $176 $204 $100,000 $289 $333 $125 000 $413 $463 $150,000 $554 $593 $175 000 $695 $723 $200,000 $836 $853 $300,000 $1 401 $1 372 $400,000 $1,965 $1,892 Tax Capacity Rate Used for Proposed 1993 Tax Tax Capacity Rate Used for 1992 Tax City of Eden Prairie 12/92 $28 $44 $50 $39 $28 $17 -$29 -$73 15.9% 15.2% 12.1% 7.0% 4.0% 2.0% -2.1% -3.7% 25.837% 22.571% OVERALL TAX IMPACT (Residential) $75 000 $951 $1,086 $100,000 $1,561 $1 781 $125,000 $2,232 $2 477 $150,000 $2,994 $3 173 $175,000 $3,755 $3,868 $200,000 $4,518 $4 564 $300 000 $7,567 $7,347 $400,000 $10,615 $10,130 Tax Capacity Rate Used for Proposed 1993 Tax Tax Capacity Rate Used for 1992 Tax 12/92 $135 $220 $245 $179 $113 $46 -$220 -$485 14.2% 14.1% 11.0% 6.0% 3.0% 1.0% -2.9% -4.6% 139.003% 121.944% CITY TAX IMPACT (Commercial/Industrial) $1,000,000 $10,519 $11 567 $1,048 10.0% $1,000,000 $7,896 $8,790 $894 11.3% 12/92 OVERALL TAX IMPACT (Com mercial/ind ustriall Apartment) $100,000 $5,686 $6,219 $533 9.4% $500,000 $28,431 $31,093· $2,662 9.4% $1,000,000 $56,861 $62,186 $5,325 9.4% $100,000 $4,268 $4,726 $458 10.7% $500,000 $21,340 $23,631 $2 291 10.7% $1,000,000 $42,680 $47,261 $4,581 10.7% 12/92 ... CITY OF EDEN PRAIRIE 1993 BUDGET TAX CAPACITIES, TAX LEVIES AND TAX RATES (Assessed/Paya ble) IA.~?:L I I,A~~~LI t~u9~gr I IADJBUDI '91192 " TAX CAPACITY REAL PROPERIT 68,163,961 71,730,442 68,110,712 68,110,712 PERSONALPROPERIT 11493276 1243 1449 1z495 z422 1,495,422 GROSS VALUE 69,657;337 73,273,&)1 69,606,134 69,606,134 FISCAL DISP CONTRIBUTION (13,238,580) (14,368,852) (14,421,779) (14,421,779) TIF CAPTURED VALUE {1,815,588) p,725,876) {1,521,637) {l,521,637) NET VALUE 54,603,169 57,179,163 53,662,718 53,662.718 TAX LEVIES GENERAL FUND $9,&)1,000 $10,486,400 $10,527,400 $10,488,600 TRANSPORTATION IMPROVEMENTS 301,000 301,000 FIRE RELIEF 85,000 261,000 261,000 DEBT SERVICE 1986 FIRE BONDS 202,000 213,000 219,000 219,000 EQUIPMENT CERTIFICA1ES 802,000 1,095,000 790,400 790,400 1977 FIRE BONDS 80,000 69,000 80,000 80,000 1989 REC FACILIIT REF BONDS 223,000 273,000 260,000 260,000 TRANSPORTATION BONDS 400,000 400,000 250,000 250,000 1989 PUBLIC FACILITY REF BOND 260,000 81,000 199,000 199,000 1992 PARK BONDS 11,858,000 12,702,400 12,887,800 12,849,000 LESS: HACA (354,741) (25,000) (81,002) (42,202) FISCAL DISP REVENUE (432 z613) (647,890) (694224) (694.524) NET LEVY $11 ,070,646 $12,029,510 $12,112J74 $12,112J74 TAX RATES GENERAL FUND 16.911 17.368 18.437 18.437 TRANSPORTATION IMPROVEMEN~ 0.000 0.000 0.527 0.527 FIRE RELIEF 0.000 0.141 0.457 0.457 DEBT SERVICE 1986 FIRE BONDS 0.345 0.353 0.384 0.384 EQUIPMENT CER TIFICA1ES 1.371 1.814 1.384 1.384 1977 FIRE BONDS 0.137 0.114 0.140 0.140 1989 REC FACILIIT REF BONDS 0.381 0.452 0.455 0.455 TRANSPORTATION BONDS 0.684 0.662 0.438 0.438 1989 PUBLIC FACILITY REF BOND 0.445 0.134 0.349 0.349 1992 PARK BONDS· PERCENT OF TAX CAPACITY 20.274 21.038 22.571 22.571 IEST;~TE~ I%CHGI 60,567,142 -11.08% 1,493 218 -O.l~% 62,060,460 -10.84% (14,153,699) -1.86% {1,007,1~) -33.81% 46,&)9,653 -12.60% $10,980,700 4.31% 0 261,000 0.00% 236,000 7.76% 928,000 17.41% 0 325,000 25.00% 500,000 100.00% 230,000 15.58% 65,000 13,525,700 4.95% (535,672) (727 z755) $12.262~73 1.24% 21.216 15.07% 0.000 0.504 10.28% 0.456 18.75% 1.793 29.55% 0.000 0.628 38.02% 0.966 120.55% 0.444 27.22% 26.007·· 15.22% *According to state requirements, the new park bond levy will be shown as a percent of market value rather than tax capacity. The market value levy rate for this bond obligation ($65,000) will be 0.0027%. **The tax rate per Hennepin County calculations is 25.837%, due to rounding of values. Our calculation is 26.007%. 12/3/92 " CITY OF EDEN PRAIRIE .. I .... 1993 BUDGET REVENUE & EXPENDITURE OVERVIEW 1991 1992ADJ ACfU:AL BUDGET REVENUES: GENERAL FUND Property tax (net) 9,813,510 9,751,874 State homestead credit aid (HACA) 42,202 Fiscal disparities 647,890 694,524 Gross levy 10,461,400 10,488,600 Delinquency/rebate allowance (504,191) (525,000) Other reven ues: Lawful gambling revenues 28,965 Insurance premium refunds Liquor fund transfer 206,000 All other non -tax revenue 4,037,015 Fund balance 511,169 Sub Total 14,740,358 TRANSPORTATION IMPROVEMENTS FUND Property tax 0 FIRE RELIEF AGENCY FUND Property tax 80,771 State fire aid 127,560 Other reven ue 6,257 Fund balance 53,554 Sub Total 268,142 DEBT SERVICE FUNDS Property tax 2,035,404 TOTAL REVENUES 17,043,~4 EXPEND ITURES: GENERAL FUND -OperatioDS 13,883,558 -Reservations of Fand Bal TRANSPORATION IMPROVEMENTS 856,800 FIRE RELIEF PENSION CONTRIBUTION 268,142 DEBT SERVICE 2,035,404 TOTAL EXPENDITURES 17,043,~4 GENERAL FUND FUND BALANCE at year-ead: Reserved for capital facilities Reserved for PW storage facility Reserved for severance obligations Reserved for prepaid expenses Reserved for encumbrances Unreserved Total POPULATION CHANGE: 1990 = 39,485 1991 = 40,514 (2.6% increase) 1992 = 41,500 (2.4% increase) 1993 = 43,000 (2.8% increase) est 661,800 325,000 213,000 73,718 61,407 3,372,777 4,707,702 32,000 100,000 356,200 4,398,400 969,600 15,819,800 301,000 261,000 127,500 388,500 1,798,400 18,307,700 14,689,800 1,130,000 301,000 388,500 1,798,400 18,307,700 1,761,800 325,000 243,000 73,718 o 2,464,577 4,868,095 CPI CHANGE:' 1990 = 3.8% 1991 = 4.3% 1992 = 3.1% 1993 = 3.0% est % CHANGE Aetaal91 to Adj Badget 92 -0.6% 7.2% 0.3% 4.1% 10.5% 72.9% 9.0% 89.7% 7.3% 223.1% -0.0% -100.0% -100.0% 44.9% -11.6% 7.4% 5.8% 31.9% 44.9% -11.6% 7.4% 1993 PROPOSED 9,717;273 535,672 727,755 10,980,700 (549,000) 32,000 100,000 200,000 4,559,600 187,100 15,510,400 0 261,000 127,500 388,500 2,284,000 18,182,~ 15,503,400 7,000 388,500 2,284,000 18,182,~ 1,761,800 325,000 250,000 73,718 o 2,277,477 4,687,995 % CHANGE Adj Bad 92 to Pro~osed 93 -0.4% 1169.3% 4.8% 4.7% 4.6% 0.0% 0.0% -43.9% 3.7% -80.7% -2.0% -100.0% 0.0% 0.0% 0.0% 27.0% -0.7% 5.5% -99.4% -100.0% 0.0% 27.0% -0.7% 12/3/92 ~ CITY OF EDEN PRAIRIE 1993 BUDGET GENERAL FUND REVENUES 1991 1992 6/30/92 1992 ADJ 1993 MGR ACTUAL BUDGET ACTUAL BUDGET RECOMM • GENERAL PROPERTY TAXES CURRENT ,10,527,400 10,488,600 10,980,700 DELINQUENCY ALLOWANCE (325,000) (525,000) (549,000) NET CURRENT 9,957,209 10,202,400 9,963,600 10,431,700 DELINQUENT COLLECTIONS 32,273 100,000 100,000 100,000 PEN AL TY & INTEREST 149,605 100,000 135,000 135,000 TOTAL TAXES 10,139,087 10,402,400 0 10,198,600 10,666,700 REVENUE FROM GOVT AGENCY POLICE PENSION AID 196,487 196,500 215,200 215,200 RECYCLING GRANT 20,676 25,000 25,000 6,200 POLICE TRAINING 16,297 18,000 18,000 18,000 CIVIL DEFENSE 9,866 12,800 12,800 9,000 REDISTRICTING 9,500 9,828 9,500 OTHER 1,857 8,500 TOTAL OTHER AGENCIES 245 z183 261 z800 9 z828 289z000 248z400 LICENSES LIQUOR & BEER 124,202 105,000 2,107 105,000 105,000 BUILDING CONTRACTORS 7,090 2,000 1,840 2,000 2,000 OTHER-CIGARETTE & 20,073 23,000 7,036 23,000 23,000 TOTAL LICENSES 151,365 130,000 10,983 130,000 130,000 PERMITS & FEES DOG REGISTRATION 9,208 8,600 7,733 8,600 9,000 BUILDING 902,591 1,000,000 572,257 1,000,000 1,000,000 PLANNING & ZONING 36,884 40,000 17,187 35,000 110,000 ENGINEERING & ADMIN 260,614 300,000 136,362 217,500 450,000 STREET LIGHTING 44,155 20,000 21,762 40,000 40,000 LA WFUL GAMBLING 28,965 32,000 4,439 32,000 32,000 IMPOUND FEES 4,332 4,400 641 4,400 4,400 CABLE TV 113,991 145,000 35,538 142,700 170,500 IDR CHARGES 70,179 100,000 37,931 100,000 100,000 OTHER 18,695 15,000 15,340 20,000 20,000 TOTAL PERMITS & FEES l z489 z614 l z665 z000 849z190 l z600 z200 l z935 z900 RECREATION FEES YOUTH PROGRAMS 113,747 99,500 109,310 130,000 130,000 ORGANIZED ATHLETICS 150,094 185,500 67,648 152,500 152,500 COMMUNITY CENTER 407,351 490,000 252,380 469,600 504,000 2ND ICE ARENA 177,200 HISTORICAL 19,527 2,000 1,880 8,000 6,000 PARK USE FEES 8,527 13,000 13,945 13,000 13,000 BEACH/CONCESSIONS 13,673 15,300 5,229 14,000 14,000 SPECIAL EVENTS 14,394 13,000 13,000 15,000 ADULT PROG RAMS/ADAPTIVE 20,567 18,700 13,477 18,700 26,100 TOTAL RECREATION 747,880 837,000 463,869 818,800 1,037,800 COURT FINES 181,780 175,000 106,078 210,000 210,000 INVESTMENT EARNINGS 236,013 150,000 100,000 200,000 150,000 OPERATING TRANSFERS IN (FROM) UTILITY FUND 30,000 40,000 20,000 40,000 50,000 T.I.F. DEVELOPMENT FUND 201,405 200,000 100,000 200,000 150,000 LIQUOR FUND 206,000 356,200 178,100 356,200 200,000 CDBG FUND 13,600 17,000 TOTAL TRANSFERS IN 437,405 596,200 298,100 609,800 417,000 12/3/92 :1' ~, .. CITY OF EDEN PRAIRIE 1993 BUDGET GENERAL FUND REVENUES / 1991 1992 6/30/92 1992 ADJ 1993 MGR ACTUAL BUDGET ACTUAL BUDGET RECOMM OTHER REVENUE , ~ SCHOOL LIAISON 44,073 42,000 46,200 48,500 SPECIAL ASSESSMENTS 464,043 360,000 2,051 607,600 329,000 MISCELLANEOUS 92,746 40,000 25,948 40,000 50,000 INSURANCE PREMIUM REFUNDS 100,000 100,000 TOTAL OTHER 600,862 442,000 27,999 793,800 527,500 TOTAL REVENUES 14,229,189 14,659,400 1,866,047 14,850,200 15,323,300 USE OF FUND BALANCE: OPERATING EXPENDITURES 7,600 (221,800) 187,100 RESERVATIONS (CAPITAL FACILmES) 1,130,000 1,130,000 ENCUMBEREDFROM1~1 61,400 TOTAL USE OF FUND BALNC 0 1,137,600 0 969,600 187,100 TOTAL GENERAL FUND 14,229,189 15,797,000 1,866,047 15,819,800 15,510,400 EQUIPMENT ACQUISITION FUND EQ UIPMENT CERTIFICATES 593,400 593,400 598,400 SALE OF PROPERTY 9,650 6,700 TRANSFER FROM GENERAL FUND 4,000 USE OF FUND BALANCE: ENCUMBEREDFROMl~1 98,800 TOTAL EQUIP ACQUIS FUND 0 593,400 9,650 702,900 598,400 GRAND TOTAL $14,229,189 $16,390,400 $1,875,697 $16,522,700 $16,108,800 12(3'/ 92 .1 CITY OF EDEN PRAIRIE v' 1993 BUDGET GENERAL FUND EXPENDITURES % ClIANGB 1992 1993 '92 ADOPTED 1991 1992 6/30/92 AD] 1993 MGR TO PG ACTUAL BUDGET ACTUAL BUDGET PROPOSED RECOMM ~m:;OOMM 6 LEGISLATIVE $ 84,555 $ 86,600 $ 54,722 $ 89,300 $ 95,400 $ 113,400 30.9% 8 ELECfIONS 15,320 117,600 76,921 131,100 20,900 20,900 -82.2% 12 CITY MANAGER 166,041 180,009-98,213 220,900 235,400 232,400 29.1% 16 ASSESSING DEPT 313,735 312,900 150,898 314,000 361,500 340,500 8.8% I NSP/SAFETY/FACILITIES 20 BLDG INSPECfION 505,229 529,900 262,957 532,500 545,300 545,300 2.9% 22 SAFETY 51,797 59,600 30,569 60,900 64,700 60,200 1.0% 24 FACILITIES 553,931 625,800 312,414 655,100 710,500 536,800 -14.2% PARKS}RECREATION 28 ADMIN &. PARK PLAN 146,936 172,100 85,521 166,900 224,100 195,700 13.7% 32 PARK MAINTENANCE 732,368 804,300 344,400 813,500 854,600 854,600 6.3% 34 PARK CAPITAL OUTLAY 292,301 410,700 34,330 418,800 429,800 298,400 -27.3% 38 RECADMIN &. SP EVENTS 189,711 203,500 79,849 199,200 176,400 174,400 -14.3% 40 COMMUNITY CENTER 560,545 595,000 319,307 655,300 858,500 858,500 44.3% 42 BEACH 67,077 68,500 18,496 67,400 84,000 84,000 22.6% 44 ORGANIZED ATHLETICS 173,455 178,900 86,330 179,100 173,600 173,600 -3.0% 46 RECREATION-YOUTH 196,240 215,500 108,305 230,200 247,900 247,900 15.0% 48 RECREATION-ADULT 88,596 82,100 42,645 85,400 139,900 105,100 28.0% SO RECREATION-ADAPTIVE 24,662 46,000 21,001 48,000 59,100 59,100 28.5% 52 HIST &. CULTURAL ARTS 54,871 46,200 19,488 46,200 47,300 47,300 2.4% 56 FINANCE 265,046 275,100 140,099 275,100 284,100 284,100 3.3% 60 HUMAN RESOURCES 150,983 146,800 77,036 150,200 144,700 144,700 -1.4% 62 COMMUNITY SERVICES 132,422 149,300 58,241 148,100 255,500 267,800 79.4% 66 PLANNING DEPT 361,046 360,400 158,433 324,500 371,300 350,300 -2.8% POLICE DEPT 74 POLICE 2,972,211 3,021,500 1,551,474 3,149,800 3,265,500 3,170,900 4.9% 76 CIVIL DEFENSE 37,397 25,800 20,040 25,800 32,100 32,100 24.4% 78 ANIMAL CONTROL 80,978 78,200 31,293 78,200 97,400 97,400 24.6% 82 FIRE 446,794 541,400 205,649 510,300 508,400 473,400 -12.6% PUBLIC WORKS DEPT 86 ENGINEERING 561,221 645,700 296,106 639,300 619,400 597,400 -7.5% 90 STREETS & DRAINAGE 1,182,564 1,500,800 695,877 1,543,200 1,576,500 1,516,500 1.0% 92 EQUIPMENT MAINTENANCE 610,101 644,800 290,246 620,400 698,300 698,300 8.3% 94 STREET LIGHTING 353,707 381,500 186,180 381,500 416,000 416,000 9.0% 96 SOLID WASTE MANAGEMT 37,215 31,900 13,107 31,900 34,200 6,200 -80.6% SHARED SERVICES 93 GENERAL 339,613 429,800 187,014 408,300 494,700 494,700 15.1% 100 DATA PROCESSING 96,084 101,500 52,655 101,500 199,600 163,000 60.6% 102 LEGAL COUNSEL 157,691 105,000 22,953 135,000 160,000 160,000 52.4% 104 PUBLIC INFORMATION 95,009 75,200 35,887 74,300 -100.0% 106 EMPLOYEE BENEFITS & TRAINING 1,631,052 1,853,500 783,756 1,782,100 2,171,600 2,150,900 103 CONTINGENCY LAND FILL CLOSURE 72,226 50,000 10,414 40,000 30,000 30,000 -40.0% OTHER 82,820 107,000 11,043 59,400 100,000 100,000 -6.5% TOTAL EXPENDITURES 131883,550 151260,400 6 19731869 15,392,700 1617881200 161101,800 5.5% NEW CITY HALL 661,800 700,000 700,000 CAPITAL FACILITIES 400,000 400,000 PW/PARKS STORAGE BLDG 175,000 SEVERANCE OBLIGATIONS 20,000 30,000 30,000 7,000 7,000 TOTAL RESERVATIONS OF FUND BALANCE 8561800 1 11301000 0 1 1130,000 7 1000 7 1000 -99.4% GRAND TOTAL $141740,350 $ 16,390,400 $ 6,973,869 $ 16,522,700 $ 16,795,200 $ 16,108,800 -1.7% Amount financed out of the EqUipment Acquisition Fund: $173,476 $593,400 $375,463 $702,900 $0 $598,400 12/3/92 REVI SED M 12 ..... "'1 ..... '92 M PA.... '93 LEV.... PROPOSAL Adjusted TOH Levy t Pork Bond Levy = Net Levy $12,197,2~7 t 65,000 = $12,262,274 $150,000 Net TOH Levy Increose ACTUAL TAX CAPACITY 91 PAY 92 REAL ESTATE $68,110,712 PERSONAL PROPERTY $1,495,422 NET TAl< CAPACITY $69,606, 134 FISCAL DISPARITY CONTRIBUTION $1~,421,779 TIF CAPTURED TAl< CAPACITY $1,521,637 ADJUSTED NET TAl< CAPACITY $53,662,718 PROJECTED TAl< CAPACITY 92 PAY 93 $60,567,142 $1,493,318 $62,060,460 $14,153,699 $1,007,108 $46,899,653 HENNEPIN COUNTY CALCULATION AS OF 9/92 HENNEPIN COUNTY CALCULATION AS OF 9/92 HENNEPIN COUNTY CALC. AS OF 9/92, ONE YEAR LAG -NEl<T YEAR SHOULD BE DOUN JOHN FRANE INDICATES THAT ONLY ECON.DEV. DISTRICT 17 AND HOUSING DISTRICTS 19 AND 10 REMAIN FOR PAY 93. HENNEPIN COUNTY CALCULATIONS AS OF 9/92. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~MM~~~MMMMMM~M~~M~~M~~M~~M~MM~MM ~M~~~M~~M~~MM~~~M~ TAX LEVY FISCAL DISPARITY DISTRIBUTION HACA ADJUSTED TAX LEVY $12,887,800 $694,524 $81,002 $12,112,274 $13,460,701 $727,755 $535,672 $12,197,274 GROSS LEVY INCREASE 4.957. (TAl< LEVY t PARK REF. LEVY = GROSS LEVY) HENNEPIN COUNTY CALCULATIONS 9/92 $13,525,701 CERTIFIED AMOUNT -PER DEB VOLKERT OF MN DEPT REVENUE 9/92 NET LEVY INCREASE 1.247. (ADJ. LEVY t PARK REF. LEVY = NET LEVY) $12,262,274 ~MMM*MMMMMMMMMMMM~MM~~M~MMMMMM~~MM~~~M~MMMMMM~MM~M*MMMMM~MMMMMMMMMM MMMMMMMMMMMMM~MMMM ADJUSTED TAX LEVY $12,112,274 $12,197,274 DIVIDED BY ADJUSTED NET TAl< CAPACITY $53,662,718 $46,899,653 EQUALS CITY TAl< RATE 22.57117. 25.8370Z TAl< RATE GROUTH PAY 93 VS PAY 92 14.46937. ~~~M*~MM~MMMMMMM~MMM~~MM~~~M~MM~~~~~~MMMM~MM~~M~MM~~M~~~~~MM~~~~~MM ~M~M~M~~M~~~M~M~~~ PARK BOND REFERENDUM LEVY NA $65,000 DIVIDED BY ESTIMATED MARKET VALUE $2,474,827,300 $2,434,677,900 EQUALS REFERENDUM LEVY RATE NA 0.00277. BASED ON INFORMATION FROM JOHN FRANE ASSUMES LEVIED AGAINST TOTAL MARKET VALUE UITH NO ADJUSTMENT FOR TIF AND FISCAL DISPARITIES. THIS RATE IS THEN APPLIED AGAINST THE INDIVIDUAL PROPERTY VALUES AND ADDED TO THE REGULAR TAl<ES AS LEVIED. IT UILL SHO~ AS A SEPERATE LISTING ON THE PAY 93 TAl< STATEMENT. ~*~M~*M~~~~~~M~~~~~~~~M~~~~~~~~~~~~~~MMMMM~M~~~M~M~~M~~~~~~~~~~~~~M MM~M~~M~~~MM~~M~~~ CITY TAl<-RESIDENTIAL HOMESTEAD 1992 1993 7. CHANGE $ CHANGE $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $300,000 $400,000 $500,000 $176 $289 $413 $554 $695 $836 $1,401 $1,965 $2,529 $204 $333 $463 $593 $723 $853 $1,372 $1,892 $2,411 167. $27 15Z $44 12Z $50 77. $39 4Z $28 2Z $17 -2Z ($28) -4Z ($73) -5Z ($118) Note: The City tOH rote of 25.837Z is the rote deternined by Hennepin County ond is slightly different thon our colculotions would show. The difference is due to rounding. C\123\RATE92RV 12/4/92 ~ • • • AGENDA HOUSING & REDEVELOPMENT AUTHORITY MEETING TUESDAY, DEC~ER 15, 1992 7:30 PM, CITY HALL COUNCIL CHAMBER 7600 Executive Drive HOUSING & REDEVELOPMENT AUTHORITY MEMBERS: Chair Douglas Tenpas, Richard Anderson, Jean Harris, H. Martin Jessen, and Patricia pidcock HOUSING & REDEVELOPMENT AUTHORITY STAFF: Executive Director of the Housing & Redevelopment Authority Chris Enger, City Manager Carl J. Jullie, Assistant to the city Manager Craig w. Dawson, Finance Director John D. Frane, ci ty Attorney Roger Pauly, and HRA Recorder I. II. III. IV. V. VI. VII. VIII. ROLL CALL CALL MEETING TO ORDER APPROVAL OF HOUSING & REDEVELOPMENT AUTHORITY MINUTES Pg. 2589 FROM MEETING HELD TUESDAY, NOVEMBER 17, 1992 BRA RESOLUTION AMENDING CITY DEVELOPMENT AGREEMENT FOR Pg. 2590 ELIM SHORES BRA RESOLUTION AWARDING SALE OF $9,760,000 LEASE REVENUE Pg. 2591 BONDS, SERIES 1992B BRA RESOLUTION AWARDING SALE OF $2,355,000 TAXABLE LEASE REVENUE BONDS, SERIES 1992C OTHER BUSINESS ADJOURNMENT II II ~~--~~----- • • •