Budget MessageCity of Golden Valley, Minnesota
2017 - 2018 Adopted Biennial Budget
Adopted December 6, 2016
City Officials
Mayor
Shep Harris
Council Members (at-large)
Joanie Clausen
Larry Fonnest
Steve Schmidgall
Andy Snope
Management Team
Tim Cruikshank, City Manager
Rick Birno, Director of Parks and Recreation
John Crelly, Fire Chief
Chantell Knauss, Assistant City Manager
Marc Nevinski, Physical Development Director
Jason Sturgis, Police Chief
Sue Virnig, Finance Director
Cheryl Weiler, Communications Manager
city of
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Organization Chart valvalley
Citizens of
Golden Valley
City Council/
HRA
Board of Zoning Civil Service
Appeals Commission
Environmental Human Rights
Commission Commission
Human Services Open Space&
Fund Recreation Commission
Planning Teen Committee
Commission
City Manager
Finance Park&Recreation
Physical
Police FireDevelopment
Accounting Golf Maintenance Engineering
Recycling
Computer Services Golf Operations Inspections
Elections Recreation Planning
General Services Maintenance
Motor Vehicle
Licensing Park Street Utilities Vehicle
Maintenance Maintenance Maintenance Maintenance
Building ForestryOperations
Date: December 31, 2016
To:Mayor and Council
From: Tim Cruikshank, City Manager
Re: 2017 -2018 Adopted Biennial Budget
On December 6, 2016, the Golden Valley City Council adopted the biennial 2017-2018 Budget. During
the first year of the two-year process, both years' budgets are developed and reviewed. Only the first
year's budget was adopted and the levy approved by the City Council. The second year's budget was
approved in concept and will be reviewed in detail in 2017. The two-year budget gives staff and City
Council a future picture and the tool to examine impacts from the State Legislature and economic
climate change from property values.
The Budget represents the collective effort of City elected officials and staff, combined with input from
many public meetings, for decisions on providing quality services in Golden Valley. The City remains
on sound financial footing and continues to receive a bond rating of AA1 from Moody's Investors
Services. The City takes pride in the services it offers its taxpayers.
Levy limits were not in place for the 2017 budget process. This allowed the City to increase the transfer
monies from the General Fund to fund the overlay program that would help maintain the street system
in a long-term effective manner as presented with the Pavement Management Program, and additional
monies will be transferred to the building and park improvement funds to maintain the City's buildings
and park infrastructure.
This Budget is a balanced budget and uses no source of fund balance (except for cash flow purposes)
until the tax payments are received in July and December. The General Fund fund balance is projected
to be $10,688,064 as of December 31, 2017. This level will be adequate to finance the City's cash flow
and contingency needs and is equal to approximately 58.5 percent of adopted expenditures. The
concept budget for 2018 will need additional property tax revenue for it to be balanced and will be
discussed with the upcoming biennial budget for 2018-2019.
Continued work to finish the Pavement Management Program will require additional debt levies for
payment of future bonds. In 2017, the replacement of the Community Center was financed with a lease
revenue bond from the Housing and Redevelopment Authority. Discussion of financing future needs of
assets and infrastructure were held. Maintenance of infrastructure and reinvesting in the City is a high
priority of the Council along with the impact on the taxpayer.
As we look forward to 2017, there are still many challenges ahead. I look forward to working with you in
the coming year to execute this adopted budget.
Sincerely,
Tim Cruikshank
City Manager
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