CITY OF PARK RAPIDS SUMMARY BUDGET STATE
CITY OF PARK RAPIDS SUMMARY BUDGET STATEMENT The purpose of this report is to provide summary 2023 budget information concerning the City of Park Rapids to interested citizens. The budget is published in accordance with Minnesota State Statute, Sec 471.6965. This is not the complete city budget. The complete city budget may be examined in the Clerk/Treasurer’s Office, in City Hall. The City Council approved this budget on December 13, 2022. GOVERNMENT FUNDS REVENUES 2022 BUDGET 2023 BUDGET TAXES $2,935,066.00 $3,035,096.00 TAX INCREMENT $0.00 $0.00 FRANCHISE & OTHER TAXES $252,000.00 $199,000.00 SPECIAL ASSESSMENTS $0.00 $0.00 LICENSES & PERMITS $117,750.00 $118,950.00 FEDERAL GRANTS $666,270.00 $0.00 STATE GENERAL PURPOSE AID $670,620.00 $855,456.00 STATE CATEGORICAL AID $163,000.00 $163,000.00 GRANTS FROM COUNTY AND OTHERS $1,250,000.00 $250,000.00 CHARGES FOR SERVICES $105,000.00 $32,000.00 FINES & FORFEITS $30,000.00 $15,000.00 INTEREST ON INVESTMENTS $40,000.00 $40,000.00 MISCELLANEOUS $41,000.00 $26,800.00 TRANSFER FROM OTHER FUNDS $0.00 $450,000.00 TOTAL REVENUE $6,270,706.00 $5,185,302.00 EXPENDITURES GENERAL GOVERNMENT $694,323.00 $800,187.00 PUBLIC SAFETY $1,785,995.00 $1,907,686.00 STREETS & HIGHWAYS $711,035.00 $614,503.00 SANITATION $0.00 $0.00 CULTURE & RECREATION $284,501.00 $226,423.00 CONSERVATION NATURAL RESOURCES $12,253.00 ECONOMIC DEVELOPMENT $349,700.00 $293,317.00 MISCELLANEOUS $80,000.00 $104,600.00 TOTAL EXPENDITURES $3,905,554.00 $3,958,969.00 EXCESS OF REVENUES OVER EXPENDITURES $2,365,152.00 $1,226,333.00 ($858,358.50) OTHER FINANCING SOURCES PROCEEDS FROM BONDS $0.00 $0.00 OPERATING TRANSFERS $0.00 $0.00 OTHER FINANCING USES DEBT SERVICE - PRINCIPAL $0.00 $960,000.00 DEBT SERVICE - INTEREST & FISCAL CHARGES $0.00 $217,887.50 $1,177,887.50 STREET & HIGHWAY CONSTRUCTION $0.00 $72,000.00 CAPITAL OUTLAY $0.00 $834,804.00 $2,084,691.50 NET PROPERTY TAX LEVY REQUIRED TO FUND THIS BUDGET $2,935,066.00 $3,035,096.00 ENTERPRISE FUNDS 2022 2023 WATER SEWER BUDGET BUDGET REVENUES OPERATING REVENUE $723,830.00 $466,100.00 $723,830.00 $1,189,930.00 EXPENSES OPERATING EXPENSES $1,149,457.00 $957,331.00 $2,236,329.00 $2,106,788.00 OPERATING INCOME -$425,627.00 -$491,231.00 -$1,512,499.00 -$916,858.00 NON-OPERATING INCOME TAXES $0.00 $0.00 $0.00 $0.00 INTERGOVERNMENTAL $0.00 $0.00 $0.00 $0.00 NON-OPERATING EXPENSES DEBT RETIREMENT $0.00 $0.00 $0.00 $0.00 TOTAL NET PROPERTY TAX LEVY TO FUND TOTAL BUDGET $2,935,066.00 $3,035,096.00 3.50 % INCREASE (April 5, 2023) 210665