Item Coversheet

*5.A.1.


Shakopee City Council
December 17, 2019


FROM:Nate Reinhardt, Finance Director
TO:Mayor and Council Members
Subject:
Consideration of 2019 Property Tax Levy Collectible in 2020, the 2020 Debt Service Cancellations Specific to Certain Debt Issuances and the 2020 Budget, Res. Nos. R2019-116, 117 and 118.
Policy/Action Requested:
Adopt Resolution Nos. R2019-116, 117 and 118, approving the 2019 property tax levy collectible in 2020, the 2020 budget, and the 2020 debt service cancellations specific to certain debt issuances.
Recommendation:
Approve the resolutions as requested.
Discussion:

The budget process for city covers an extensive period of the calendar year. The process began in May with public input meetings followed by a series of council work sessions throughout the summer and fall to review capital and operational budgets. The Truth-in-Taxation meeting was held a the December 3rd council meeting where a presentation on the levy and budget was presented to the Council and the public. 

 

The final step in the process is the Council approving the levy and budget. There have been no changes to the budget document since the last council meeting. Staff is recommending approval of a final 2019 levy collectible with 2020 property taxes of $20,380,500. This is a tax levy increase of $1,150,000 or 5.98% from the 2018 levy. Staff is also recommending approval of the 2020 budget, revised 2019 budget and the 2020 debt service cancellations.


Budget Impact:
The tax levy and budget provide the operational and capital funding for 2020.
ATTACHMENTS:
Description
Resolution No. R2019-116, Setting 2019 Property Tax Levy Collectible in 2020
Resolution No. R2019-117, Adopting 2020 Budget and Revised 2019 Budget
Resolution No. R2019-118, Canceling Certain Debt Service Levies for Taxes Payable in 2020
2020 Budget