The Taconite Capital of the World

City of Mountain Iron, Minnesota



Finance & Budget

2006 Budget Summary

EXPENDITURES 2005 Budget 2006 Budget Difference Percent
Administration $ 451,000.00 $ 476,500.00 $ 25,500.00 5.7%
Public Safety $ 494,300.00 $ 512,500.00 $ 18,200.00 3.7%
Public Works $ 670,000.00 $ 705,000.00 $ 35,000.00 5.2%
Culture and Rec $ 343,080.00 $ 366,000.00 $ 22,920.00 6.7%
General Government $ 687,894.00 $ 768,250.00 $ 80,356.00 11.7%
TOTAL $ 2,646,274.00 $ 2,828,250.00 $ 181,976.00 6.9%
REVENUE 2005 Budget 2006 Budget Difference Percent
Taxes $ 113,625.00 $ 117,504.00 $ 3,879.00 3.4%
Intergovernmental Aid $ 1,388,747.00 $ 1,536,882.00 $ 148,135.00 10.7%
General Revenue $ 228,500.00 $ 231,000.00 $ 2,500.00 1.1%
TOTAL $ 1,730,872.00 $ 1,885,386.00 $ 154,514.00 8.9%
GENERAL LEVY $ 915,402.00 $ 942,864.00 $ 27,462.00 3%
DEPARTMENT 2005 Budget 2006 Budget Difference Percent
City Council $ 13,000.00 $ 13,500.00 $ 500.00 3.8%
Administration $ 393,000.00 $ 407,000.00 $ 14,000.00 3.6%
Election $ 0.00 $ 9,000.00 $ 9,000.00 -%
Assessing $ 24,000.00 $ 26,000.00 $ 2,000.00 8.3%
Planning & Zoning $ 21,000.00 $ 21,000.00 $ 0.00 0%
Sheriffs $ 416,000.00 $ 427,000.00 $ 11,000.00 2.6%
Fire Protection $ 66,300.00 $ 67,000.00 $ 700.00 1.1%
Emergency Management $ 1,000.00 $ 6,000.00 $ 5,000.00 500%
Animal Control $ 11,000.00 $ 12,500.00 $ 1,500.00 13.6%
Streets $ 520,000.00 $ 550,000.00 $ 30,000.00 5.8%
Buildings $ 150,000.00 $ 155,000.00 $ 5,000.00 3.3%
Campground $ 42,780.00 $ 50,500.00 $ 7,720.00 18%
Recreation $ 189,600.00 $ 201,500.00 $ 11,900.00 6.3%
Government $ 158,730.00 $ 182,220.00 $ 23,490.00 14.8%
Library $ 110,700.00 $ 114,000.00 $ 3,300.00 3%
Transfers $ 529,164.00 $ 586,030.00 $ 56,866.00 10.7%
TOTAL $ 2,646,274.00 $ 2,828,250.00 $ 181,976.00 6.9%
GENERAL REVENUE 2005 Budget 2006 Budget Difference Percent
Lic. & Permits $ 21,500.00 $ 21,500.00 $ 0.00 0%
Charges for Service $ 28,000.00 $ 40,000.00 $ 12,000.00 42.9%
Fines $ 9,000.00 $ 9,500.00 $ 500.00 5.6%
Interest $ 40,000.00 $ 35,000.00 $ -5,000.00 -12.5%
Refunds $ 100,000.00 $ 100,000.00 $ 0.00 0%
General $ 30,000.00 $ 25,000.00 $ -5,000.00 -16.7%
Subtotal $ 228,500.00 $ 231,000.00 $ 2,500.00 1.1%
INTERGOVERNMENTAL REVELUE
Local Government Aid $ 526,247.00 $ 623,882.00 $ 97,635.00 18.6%
Taconite Production Tax $ 450,000.00 $ 500,000.00 $ 50,000.00 11.1%
Taconite Municipal Aid $ 300,000.00 $ 300,000.00 $ 0.00 0%
Mining Effects Tax $ 100,000.00 $ 100,000.00 $ 0.00 0%
Other $ 12,500.00 $ 13,000.00 $ 500.00 4%
Subtotal $ 1,388,747.00 $ 1,536,882.00 $ 148,135.00 10.7%
TAXES
Tax Levy $ 915,402.00 $ 942,864.00 $ 27,462.00 3%
Market Rate Levy $ 83,125.00 $ 86,504.00 $ 3,379.00 4.1%
Misc. Taxes $ 10,500.00 $ 11,000.00 $ 500.00 4.8%
Franchise $ 20,000.00 $ 20,000.00 $ 0.00 0%
Subtotal $ 1,029,027.00 $ 1,060,368.00 $ 31,341.00 3%
TOTAL $ 3,675,301.00 $ 3,888,618.00 $ 213,317.00 5.8%

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