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06. Resolution 5580 - Budget Resolution - Mill LevyCity of Kalispell Post Office Box 1997 - Kalispell, Montana 59903-1997 Telephone (406) 758-7000 Fax - (406) 758-7758 REPORT TO: Doug Russell, City Manager 5s _ FROM: Rick Wills, Finance Director SUBJECT: Mill levy - FY2013 Budget MEETING DATE: August 20, 2012 BACKGROUND: This resolution is adopted annually to provide a levy to fund the City's budget for the General Fund, the voted levies for the refinanced Pool and Fire Hall G. O. Bond, and the mill levy authorized by the legislature to deal with the increased cost in health insurance premiums. The total City levy requested is 187.40 mills. The General City levy of 156.40 mills is based upon the calculation of the mill value provided by the State Department of Revenue. The City has a dollar cap which computes to a maximum allowed levy of 156.40 mills. The portion of this levy designated for the Parks & Recreation department is 22.4 mills. The G. O. Bond levy request is 12.5 mills, a reduction of I mill. The original levy for the 2 separate G.O. Bonds was 20.5 mills in 2006 and has been reduced due to annexations — more properties supporting the levy, and refinancing. The Health Insurance levy request is 18.5 mills, an increase of 1.95 mills. There was a 5% increase in premiums for Health insurance purchased through MMIA for this fiscal year. The permissive levy is only to finance the increased cost of premiums since 2003 and not the total cost of insurance as it relates to governmental fund employees. The General Fund budget health line items reflect the total cost of health insurance in each budget. The Parks & Recreation fund is designated 1.6 mills of this levy for insurance costs related to Parks and Recreation employees. RECOMMENDATION: Adoption of Resolution setting the mill levy at 187.40. FISCAL EFFECTS: Levy should generate approximately $7,233,752 of tax revenue for the City based on a mill value of $39,017. However, the mill value is subject to change as appeals and other adjustments are made throughout the year. ick Wills Finance Director Background: Mill levy calculation (see FY2013 Budget -Final Numbers Memo) 2012 Certified Taxable Valuation Information 5 Year History exhibit A RESOLUTION MAKING THE ANNUAL TAX LEVIES FOR THE CITY OF KALISPELL, MONTANA, FOR THE FISCAL YEAR 2012-2013. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AS FOLLOWS: SECTION I. That there is hereby levied upon each and every dollar of the taxable valuation of the City of Kalispell, Montana, for the fiscal year 2012-2013, the following levies: MILLS GENERAL FUND 134.00 Designated for Parks & Recreation 22.40 Total General Levy 156.40 Permissive Levies: HEALTH INSURANCE 16.90 Health Insurance —designated Parks & Recreation 1.60 Total Health levy 18.50 G. 0. BOND — REFINANCED POOL/FIRE HALL 12.50 TOTAL CITY LEVY — all funds MILLS 187.40 PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL THIS 20TH DAY OF AUGUST, 2012. Tammi Fisher Mayor ATTEST: Theresa White City Clerk