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PUBLIC HEARING F1 <br />i 12/8/03 <br />ITEM: Truth in Taxation Hearing <br />SUBMITTED BY: Heather Worthington, City Administrator <br />Roland Olson, Finance Director <br />EXPLANATION: <br />Summary: Each year, cities over 5,000 in population are required by the State Legislature to <br />hold Truth in Taxation Hearings to explain their proposed budget and levy for the following <br />year, and the tax notices that are mailed in mid-Fall each year by the County. Each taxing <br />authority (County, City, School District) is required to hold these hearings. <br />Staff will present information related to the 0% increase in Falcon Heights' levy for 2004, the <br />proposed budget of $1,429,919 for 2004, and answer questions from the Council and residents. <br />City Council action on the proposed levy and budget for 2004 will take place at the Council <br />meeting on December 10, 2003. <br />ATTACHMENTS: <br />• Information Packet about the Proposed 2004 Budget <br />• Resolution 03-24 -Proposed Levy for 2004 <br />• Resolution 03-25 -Proposed Budget for 2004 <br />ACTION REQUESTED: <br />• Request staff report <br />• Open Public Hearing <br />• Take Testimony <br />• Close Public Hearing <br />• Questions <br />• There will be no City Council action this evening. Council action will take place at the <br />Council meeting on December 10, 2003. <br />• <br />