08-29-2023 WS City Council AgendaC ITY C O U N C IL AN D D IR EC TO R S W O R K S E S S IO N
R IC H F IE L D MU N IC IPAL C E N TE R, B AR TH O LO ME W R O O M
AU G U S T 29, 2023
4:15 P M
C all to order
1.P resentation of the 2023 Revised/2024 P roposed B udget and Tax L evy.
A djournment
Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at least 96
hours in advance to the City Clerk at 612-861-9739.
AGENDA SECTION:Work Session Items
AGENDA ITEM #1.
STAFF RE P ORT NO. 30
WORK SESSION
8/29/2023
RE P O RT P RE PA RE D B Y: K umud Verma, F inance D irector
D E PA RTME NT D IRE C TO R RE V IE W:
O THE R D E PA RTM E NT RE V IE W:
C ITY MA NA G E R RE V IE W:
I T E M F O R WO RK S E S S IO N:
Presentation of the 2023 Revised/2024 Proposed Budget and Tax Levy.
E X E C UT IV E S UM M ARY:
At the August 2, 2023 City Council study session, staff provided the City Council with a preview of the
preliminary 2024 Budget summary and levy, proposed 2024 Capital I mprovement Budget (C I B) and 2025-
2028 Capital I mprovement Plan (C I P), proposed utility rates, and a review of City fees.
The 2023 Revised and 2024 Proposed Budget and Tax Levy have been completed and will be presented for
City Council for review.
The proposed 2024 tax levy is a 5.90% increase over the 2023 tax levy. The budget includes a balanced
General Fund budget and also includes Special Revenue funds, Enterprise funds, I nternal Service funds,
Debt Service funds, and Capital I mprovement projects budgets.
The City Council will be asked to approve the 2023 Revised/2024 Proposed budget and preliminary tax levy at
the September 12, 2023 City Council meeting.
D IRE C T I O N NE E D E D:
The work session is an opportunity for the City Council to review the 2023 Revised/2024 Proposed
budget, ask questions and provide direction to staff for any needed changes.
B AC K G RO UND INF O RM AT I O N:
A.H IS TOR IC AL C ON T E X T
Staff has typically presented the proposed budget and tax levy to the City Council at a special budget
work session prior to approval at the first City Council meeting in September.
B.P OL IC IE S (resolutions, ordinances, regulations, statutes, etc):
The 2023 Revised/2024 Proposed budget and preliminary tax levy will be presented to the City Council
at the September 12, 2023 City Council meeting for approval.
C.C R IT IC AL T IMIN G IS S U E S:
The proposed 2024 tax levy is a 5.90% increase over the 2023 adopted levy.
The increase in the City’s General Fund budget for 2024 is a 6.76% over the 2023 adopted
budgeted level.
D.F IN AN C IAL IMPAC T:
N/A
E.L E GAL C ON S ID E R AT ION:
ALTE R N AT IV E(S):
P R IN C IPAL PAR TIE S E X P E C TE D AT ME E TIN G: