9.b. 2020 Budget
20190917 CCM RM
9.b. 2020 Budget
9/13/2019 2:37:17 PM
9/13/2019 2:30:23 PM
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<br /> <br />A summary of the main expenditures leading to the budget increase is discussed later in this memo. The <br />budget shows some increased personnel costs reflecting new full time employees, increased funding for the <br />City’s long-range maintenance plans, and overall increased wages and benefits for 2020 based on the fact <br />that the City’s four labor bargaining units have yet to settle on 2020-2021 contracts. <br /> <br />A public hearing on the budget will be scheduled for December 3rd at 7:00 p.m. in the Council Chambers. <br /> <br />BUDGET PROCESS <br /> <br />The drafting of the 2020 Budget ultimately began with and was inspired by the City Council’s goal setting <br />retreat in January. The goals and five year strategic initiatives discussed during that process were instrumental <br />in the creating of each department’s budget request. <br /> <br />After each department submitted their 2020 request, Finance Director May and I met individually with each <br />Department Head to discuss all requests and receive further explanation as to their necessity. A number of <br />items were removed via those discussions and 3 drafts were completed internally prior to Council review. <br /> <br />In addition, as a part of the budget review we have looked at 10-year needs projections for street <br />improvements, equipment replacement, buildings and the Ice Arena. We have also reviewed our long term <br />needs for major maintenance for parking lots, playgrounds, etc. Staff also compiled long-range growth <br />projections in housing, population, and service requirements to generate future budget & levy projections <br />that the Council reviewed during the preparation of this Budget. <br /> <br />Finally, as has been the direction in year’s past, staff looked at the overall budget strategically for its overall <br />balance and consistency, effect on taxpayers, and long-term impacts on finances for 2020 and beyond. Our <br />intent was to develop the most conservative budget possible that: <br /> <br />(1) is consistent with Council goals <br />(2) is consistent with previous Council direction on levels of service <br />(3) does not weaken the City’s long range financial outlook <br />(4) is balanced not only between revenues and expenditures, but also is well balanced internally <br />between personnel, equipment, technology, operating needs and capital expenditures <br /> <br />According to state law, the preliminary budget and levy must be adopted by September 30th and the final <br />budget must be adopted by December 28th after a public hearing. <br /> <br /> <br />GENERAL FACTORS AFFECTING THE BUDGET <br /> <br />Tax Base <br />For the seventh consecutive year, the overall tax base in the community has increased. The overall tax <br />capacity value within the City is estimated to be 7.91% higher in 2020 than it was in 2019. The increase in <br />market value of the median home in Rosemount is 6.71%. <br /> <br />State Budget and Legislative Impacts <br />There were no significant changes in State legislation in 2020 impacting the Budget, and there are no levy <br />limits in place for 2020. <br /> <br /> <br />
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