Monona's 2011 Operating Budget

Monona Mayor RobbKahl issued this statement about his proposed 2011 operating budget. The council is scheduled to start the budget review tonight after the regular council meeting. The budget review will continue tomorrow, October 19 at 6:30 PM.

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SUBJECT: 2011 Executive Budget

DATE: Monday, October 18, 2010

CONTACT PERSON: Robb Kahl, Mayor

Patrick Marsh, City Administrator

608-222-2525


Mayor Kahl will be presenting his 2011 Executive Budget to the City Council this evening with a total City property tax levy of $ 5,390,409, representing a 0% increase over the 2010 budget. The average home in Monona assessed at $263,000 would see a decrease of $21.13 on the City portion of their tax bill.

Over the coming weeks the City Council will be reviewing the budget prior to final approval in late November or early December.

“We are very proud of what we have achieved with our 2011 operating budget. In a time of economic instability, staff and I strived to keep the tax burden as low as possible while balancing the need to maintain quality core services and prepare for future budget uncertainty. At this point, all of those objectives have been achieved. We also added two new staff in the Parks and Recreation Department and Senior Center, due to the increased programs and participation,” said Mayor Kahl.

Mayor Kahl’s budget also does not tap into the city’s undesignated fund balance or “rainy day fund” which Mayor Kahl and the City Council have built up from $274,398 or 8.05% of the General Fund in 2003 when Mayor Kahl was first elected to $906,415 or 19.86% of the General Fund today. “These healthy reserves are essential to ensuring Monona maintain its’ excellent credit rating of AA ( S&P Rating), which in turn ensures we receive favorable rates when borrowing for important capital projects,” concluded Kahl.