15-11115r RESOLUTION NO. 11115
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 2016
WHEREAS, the Minnesota Truth in Taxation law provides for a proposed tax levy
to be certified to the County Auditor by September 30, 2015 and then recertified before
December 28, 2015.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. The budget for the City of Richfield for the year 2016 is hereby approved and
adopted with appropriations for each of the departments to be as follows:
General Fund
Legislative/Executive $ 847,420
Administrative Services 1,3.11,930
Public Safety 8,574,650
Fire Services 3,896,340
Community Development 1,394,410
Public Works 3,886,350
Recreation Services 1,838,320
Transfers Out 150,000
TOTAL GENERAL FUND - $21,899,420
2. The estimated gross revenue of the City of Richfield from all sources,
including general ad valorem tax levies as hereinafter set forth for the year
2016 which are more fully detailed in the City Manager's official copy of the
2016 budget, are hereby found and determined to be as follows:
TOTAL GENERAL FUND $21,899,420
3. There is hereby levied upon all taxable property in the City of Richfield a
direct ad valorem tax in the year 2015, payable in 2016 for the following
purposes and in the following amounts:
PURPOSE AMOUNT
General Fund' $15,365,3432
Equipment 750,000
Debt Service 2,406,043
Cedar Point Tax Abatement 299,190
1 Provision has been made in the General Fund for the payment of the City's
contributory share to Public Employees' Retirement Association.
2 General Fund Levy includes all fiscal disparities distribution amounts.
4. The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2012A, will be reduced from $144,071 to
$131,691 due to the use surplus bond proceeds from the issue.
5. The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2015A will be reduced from $634,154 to
$281,866 due to the utilization of gas and electric franchise fees.
6. The budget for the Housing and Redevelopment Authority of Richfield for the
year 2015 is hereby ratified and approved. There is hereby levied upon all
taxable property in the City of Richfield a direct ad valorem tax in the year
2015, payable in 2016 for the following purposes:
PURPOSE AMOUNT
Housing and Redevelopment Authority $508,759
7. A certified copy of this resolution shall be transmitted to the County Auditor.
8. The Truth in Taxation public meeting shall be set for 6:00 p.m. December 1,
2015.
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of
September 2015.
d t.
Debbie Goettel, Mayor
ATTEST:
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Elizabeth Van oose, City Clerk