HomeMy WebLinkAbout2026-08-17 Long Range PlanAugust 3, 2026
City of Albertville
Long Term Plan
Assumptions
•No growth in population
•3% Increase in tax capacity
•LGA Increased to $271,025 in 2027 and maintained through plan. About a $7,000 increase from the 2026 budget.
•General fund balance goal at 50%
•1.00% rate of return on investments
•5% capital levy increase each year
•Revenues other than levy and utility revenue 1.50% increase
•Expenditures 5.00% increase
•Capital Outlay from CIP
•Sewer revenue increase 3%, Water 8.5% through 2029, Storm Water 14% through 2029
•Projecting fire contract with Otsego ends in 2026. $931,000 revenue in 2026 budget.
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3
Tax Levy
* See Schedule of Property Taxes Levies and Tax Rates on page 11
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
2025 2026 2027 2028 2029 2030 2031
Property Taxes -General Levy, Bonds and Potential Levies to Balance Projects
General Capital Fund Debt Service Funds
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Tax Rates Comparison
0%
10%
20%
30%
40%
50%
60%
2024 2025 2026
Tax Capacity Rates Comparison 2024 -2026
Albertville Buffalo Delano Monticello Otsego St. Michael
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Cash Balances
* See Schedule of Annual Fund Cash Balances on page 12
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
2025 2026 2027 2028 2029 2030 2031
Cash Balance by Planned Use
General fund working capital Debt service Capital projects TIF Enterprise funds Special revenue
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Governmental Bonds Outstanding
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
2025 2026 2027 2028 2029 2030 2031
Projected Governmental Debt Balances Based on Current Amortizations
GO Special Assessment Debt Potential Debt - Based on CIP
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Enterprise Bonds Outstanding
* See Schedule of Outstanding Debt on page 13
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
2025 2026 2027 2028 2029 2030 2031
Enterprise Funds Outstanding Debt Balances
Water fund Sewer fund Storm water Potential Debt - Based on CIP
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General Fund
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
Cash Balance Budget Target Fund Balance (50%)
General Fund Cash Balance as a Percent of Expenditures
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Schedule of
Capital Outlay
•See Schedule of Planned Capital Outlay on
page 14
Largest Projects
•Main Avenue - $5,935,000 in costs between
2026 - 2028
•Central Park - $1,920,000 in costs between
2026 – 2031
•2030 Street Improvement - $2,300,000
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Questions?