2008 Tax Levy Set
At the December 18 City Council meeting, the City Council approved a tax levy of $9,194,380, which is a 4.41% increase over 2007, yet represents a rate decrease of 1.025% due to the overall market growth in Hopkins tax base. The increase is a result of increased demand for City services and increases in the City’s debt levies.
The City Council also approved a balanced budget for 2008 of $9,572,167, which is an increase of 3.26% over 2007. Budgeted expenditures rose as demand for City services increased, especially for police and fire services. Other factors impacting the 2008 budget include inflationary increases for fuel, fuel-related products, property, and liability insurance and utilities. For more information, download the 2008 Budget Presentation [
6MB].
Hopkins Finance Department Receives Recognition
December 21, 2007 – The City of Hopkins Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for its 2006 Comprehensive Annual Financial Report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. This is the 18th consecutive year the city has received this award.
May 28, 2007 —The City of Hopkins Finance Department has been awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association for its 2007 Budget. The award represents a significant achievement by the entity. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, an entity had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity's budget serves as a policy document, a financial plan, an operational guide and a communications device. The budget must be rated proficient in all four categories to receive this award. This is the sixth year the City of Hopkins has received this recognition.