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02. Resolution 5133 - Budget Resolution - Annual Tax LeviesCity cif' Kalispell Post Office B .. 997 -- Kalispell- ll- Montana -59 0 w 9 - T )758T 0 Fax 6 - T * Mayor Kennedy and City Council Members FROM; SUBJECT: MEETING DATE Amy Robertson, Finance Director .lames H. Patrick, City Manager Mill levy - FY2006 Budget August 21, 2006 BACKGROUND: The resolution is adopted annually to provide a levy to fund the C ty' budget for the General Fund, the voted levies for the pool G. 0. Bond, the Fire Station G. 0. 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 166.9 mills. The General fund levy of 134.9 mills is based upon the calculation ofthe mill value provided by the State Department of Revenue. The City has a dollar cap which computes to a maximum allowed levy of 134.9 mills The Pool debt service G. 0. Bond levy is reduced from 10.0 mills to 9 mills. The increased vale of the mill mans more people are helping to pay for the pool. The Health Insurance levy request is 13.5 mills, an increase of one mill due to the Increase in premiums for Health insurance .purchased through MMIA. The increased costs were split with the employees. The cost of insurance for new employees is not considered in the permissive levy. The legislature required that this levy be shown as a separate item on the tax notice. The permissive levy is only to finance the increased cost in premiums since 2003 and not the total cost of insurance as it relates to General ftmd employees. The General Fund budget reflects the total cost of health insurance in each budget. The permissive fund levy money is transferred t the General fund (another instance of double budgeting for the same expenditure). The Fire Station #62 G. 0. Bond levy request is 9.5 mills. This is a reductin of l mill. RECOMMENDATION: Adoption of Resolution setting the mill levy at 166.9. FISCAL EFFECT'S: Levy will generate approximately $5,306,252 in tax revenue for the City based on a mill value of $3 l �793. The 'nil value is subject to change as appeals and other adjustments are made this fall. Amy H. Robertson ames H. atric Finance Director City Manager RJE.SOLU ION NO.5133 RESOLUTION MAKING THE ANNUAL `AX LEVIES FOR THE CITY OF KAIS EL , MON ANA, FOR THE FISCAL YEAR 2006-2007. E IT RESOLVES J BY THE CITY COUNCIL THE CITY Y OF KALISPELL AS FOLLOWS, SECTION 1. That there is hereby levied upon each and every dollar of the taxable valuation of the City of Kalispell, .tan, for the fiscal year 2006-2007, the following levies: GENE. FUND MILLS 134.9 Permissive HEALTH fNSURANCE 13.5 G. 0. BOND - FOOL 9.0 G. 0. BOND — FfRE HALL 9.5 SUBTOTAL CITY LEVY 166.9 MU-S PASSED AND APPROVED Y THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL THIS 21 Ste" DAY OF AUGUST, 2006. Parnela B. Kennedy Mayor AS": Theresa White City Clerk