09-12 Resolution No. 12123RESOLUTION NO.
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 2024
WHEREAS, the Minnesota Truth in Taxation law provides for a proposed tax levy
to be certified to the County Auditor by September 30, 2023 and then recertified before
December 28, 2023.
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 2024 is hereby approved and
adopted with appropriations for each of the departments to be as follows:
General Fund
Legislative/Executive $ 1,265,380
Administrative Services 1,263,950
Finance 912,618
Public Safety 11,817,265
Fire Services 5,552,889
Community Development 1,849,550
Public Works 5,182,120
Recreation Services 2,326,037
Transfers Out
Special Projects
330,000
399,401
TOTAL GENERAL FUND $30,899,210
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
2024 which are more fully detailed in the City Manager’s official copy of the
2024 budget, are hereby found and determined to be as follows:
TOTAL GENERAL FUND $30,899,210
3.There is hereby levied upon all taxable property in the City of Richfield a
direct ad valorem tax in the year 2023, payable in 2024 for the following
purposes and in the following amounts:
PURPOSE AMOUNT
General Fund1 $22,442,2512
Equipment 1,208,000
Economic Development Authority 599,364
Debt Service 4,113,543
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.
12123
Res. 12123
4.The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2015A will be reduced from $633,419.07
to $284,569.69 due to the utilization of gas and electric franchise fees.
5.The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2018A will be reduced from $700,586.25
to $284,393 due to the utilization of gas and electric franchise fees.
6.The debt service tax levy as established in the bond documents for the G.O.
Bonds, Series 2019A will be decreased from $386,190 to $382,410.
7.The debt service tax levy for the year 2024 as established in the bond
documents for the G.O. Bonds, Series 2022A shall be $430,710.
8.The budget for the Housing and Redevelopment Authority of Richfield for the
year 2024 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
2023, payable in 2024 for the following purposes:
PURPOSE AMOUNT
Housing and Redevelopment Authority $699,617
9.A certified copy of this resolution shall be transmitted to the County Auditor.
10. The Truth in Taxation public meeting shall be set for 6:30 p.m. November 28,
2023.
Adopted by the City Council of the City of Richfield, Minnesota this 12th day of
September 2023.
Mary B. Supple, Mayor
ATTEST:
Dustin Leslie, City Clerk