8/21/2023 - City Council - Work Session - Agendas CITY OF SPRING PARK
WORK SESSION AGENDA
AUGUST 21, 2023 — 5:30 PM
SPRING PARK SPRING PARK CITY HALL
On Lake Minnetonka
(Work Session discussion times are approximate)
1. 5:30:
2. 5:45:
3. 6:00: 2024 Budget
4. 6:20 Miscellaneous
5. 6:30: Adjourn
SPRING PARK
On Lake Minnetonka
Staff Memo: General Fund: 2024 Preliminary Levy
To: Spring Park—Mayor and Council
From: Mike Anderson,Administrator
Subject: 2024 Preliminary Levy Proposal
The purpose of this memorandum is to provide you with some information regarding the proposed 2024 preliminary levy
in preparation for Truth in Taxation in December.
At first glance, increases for services plus bond payments results in an estimated 7%increase for 2024.
The proposed increase includes:
- Police Contract—increase of 3%
- Public Works Contract—increase of 3%
- Fire Services—increase of 4%
- $68,000 in General Fund Bond Payments
- 5%COLA for Staff for 2024
Additional options to consider adding:
- City Hall Improvements(curb appeal,driveway,back parking area)
- Mill and Overlay of Warren Ave&City Hall Parking Area($70,000 approx.)
- Utility Billing Enhancements ($50,000 approx.)
- New fencing around Tennis and Pickleball Courts
- Additional Council improvement requests
Each 1%is roughly $14,000. Staff would like to discuss the additional options with the Council to establish the
Preliminary%increase for 2024. This will allow us to have the appropriate Resolution ready for final approval at the
December 5,2023,Truth in Taxation meeting.
Additional financial information: The budgeted revenue for 2024 is $295,050 and the budgeted expenditures are
$1,793,715. The 7%increase results in dollar amount of$116,730.
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4349 WARREN AJAVENUE, SPRING PARK, MINNESOTA 55384-9711 (952)471-9051 FAX (952)471-9160
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