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2008 Proposed Levies & Unified Operating Budget

2008 Proposed Levies & Unified Operating Budget. Metropolitan Council August 8, 2007. Budget Presentation. Overview – Tom Weaver Levies & Regional Administration – Beth Widstrom-Anderson Transportation Division – Brian Lamb & Arlene McCarthy Environmental Services – Bill Moore

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2008 Proposed Levies & Unified Operating Budget

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  1. 2008 Proposed Levies & Unified Operating Budget Metropolitan Council August 8, 2007

  2. Budget Presentation • Overview – Tom Weaver • Levies & Regional Administration – Beth Widstrom-Anderson • Transportation Division – Brian Lamb & Arlene McCarthy • Environmental Services – Bill Moore • Community Development – Guy Peterson

  3. Council Mission Statement To develop, in cooperation with local communities, a comprehensive regional planning framework Focusing on transportation, wastewater, parks and aviation systems That guides the efficient growth of the metropolitan area The Council operates transit and wastewater services and administers housing and other grant programs

  4. Budget Principles & Assumptions • Maintain AAA Bond Rating • Hold property tax impact flat for tax payers • Maintain adequate reserves to mitigate risk • Improve service levels

  5. Significant Achievements Since January 2003: • Staffing levels are down • Reduced exposure on retiree medical benefits • Property tax rates down significantly • AAA Bond Rating has been retained

  6. Staffing LevelsFull-Time Equivalents - FTE(s) Adopted Budget Proposed * * Includes Central Corridor and NorthStar Staff

  7. Retiree Medical Benefits Fully Funded Dollars in Millions

  8. Metropolitan CouncilFinal Payable Property Tax Rates

  9. Proposed Unified Budget SummaryOperating, Passthrough & Debt Service

  10. Proposed Levy vs. Limit

  11. 72.788 71.067 to 72.788 Represents a 2.42% Increase 72.067 71.778 Without Reduction of $1M 1% Growth 1% Growth w/o Reduction Council Levy Amounts (in Millions)

  12. Property Tax Levy Options

  13. Estimated Tax Impact of Regional Taxing District Levies Based on Levies as Proposed

  14. General Fund SummaryRevenues and Expenditures

  15. General Fund Balances

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