HomeMy WebLinkAboutResolution No. 244-23 - Resolution - 2024-2025 City of Rochester Operating Budget
RESOLUTION
Adopting the 2024-2025 Operating Budget.
WHEREAS, the adoption of the City of Rochester’s budget is the single most important
policy action taken annually by the Common Council of the City of Rochester, Minnesota;
and
WHEREAS, the City of Rochester has a history of strong financial management and has
consistently received a AAA bond rating; and
WHEREAS, the City of Rochester team started developing the budget in February 2023;
and
WHEREAS, the City of Rochester has elected to leverage holistic budget stability funds to
help minimize the impact on tax levy; and
WHEREAS, the Common Council of the City of Rochester has adopted strategic priorities
and this budget attempts to align with those strategic priorities; and
WHEREAS, the 2024 tax levy, necessary in order to align strategic priorities, provide quality
services, and assure continued strong financial management through structural integrity of
operating and capital plans, requires a 9.44% increase, which was preliminarily approved
on September 18, 2023.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Rochester
that the 2024 annual budget of the City of Rochester, Minnesota for the fiscal year beginning
January 1, 2024, which has been submitted by the departments and modified and approved
by the City Council is hereby adopted:
The total of said budget and major divisions thereof being as follows:
REVENUE TO SUPPORT THE 2024
BUDGET
City of Rochester
General Property Tax Levy $99,530,873
Park Referendum Tax Levy 2,000,000
Tax Abatement Levy 0
Non-property Taxes 8,256,098
Licenses and Permits 5,242,810
Fines, Forfeits and Penalties 779,817
Intergovernmental Revenue 77,250,121
Charges for Services 57,287,921
Miscellaneous Revenues 115,229,849
Prior Year Revenues -170,922
$365,406,567
RPU Board Authority
Charges for Services $205,271,000
Private Funds 6,672,000
Intergovernmental Revenue 3,000,000
Prior Year Revenues -1,293,000
$213,650,000
TOTAL REVENUE $579,056,567
APPROPRIATIONS
City of Rochester
Employee Services $110,740,038
Other Current Expenses 97,369,203
Capital Outlay 4,748,625
Capital Improvements 143,899,175
Debt Service 8,649,526
$365,406,567
RPU Board Authority
Employee Services $32,794,000
Contractual Services 109,043,000
Other Current Expenses 19,845,000
Capital Improvements 39,100,000
Debt Service 12,868,000
$213,650,000
TOTAL APPROPRIATIONS $579,056,567
BE IT FURTHER RESOLVED that the modified, approved and adopted copy marked
"Adopted 2024-2025 Budget" be placed on file in the Rochester Public Library and the
Office of the City Clerk, and that effective January 1, 2024, the Director of
Finance/Treasurer is hereby directed to cause the appropriate accounting entries to be
made in the books of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2023.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2023.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)