09-08-2004 Council Workshop Minutes

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MINUTES OF THE WORKSI~OP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA SEPTEMBER 8, 2004 Pursuant to due call and notice thereof a workshop meeting of the City Council of Little Canada, Minnesota was convened on the 8°i day of September, 2004 in the Council Chambers of the City Center located at 515 .Little Canada Road in said City. Mayor Michael I. Fahey called the meeting to order at 6:30 p.m. and the following members of the City Counci( were present at roll call: CITY COUNCIL: Mayor Mr. Michael I. Fahey Council Member Mr. Bill Blesener Council Member Mr. Jim LaValle Council Member Mr. Rick Montour ALSO PRESENT: City Administrator Mr. Joel R. Hanson Public Works Dir. Mr. Greg Schroeder Parks & Rec Dir. Mr. Jim Morelan Accounting Supvr. Ms. Shelly Rueckert Cable TV Producer Mr. Brandon Rickert Deputy Clerk Ms. I{athy Glanzer 2005 The purpose of tonight's workshop meeting is to review the proposed PRELIMINARY 2005 Preliminary Budget. The Accounting Supervisor presented the BUDGET proposed preliminary budget and reviewed it in detail. Key highlights of that presentation are as follows: • Our gross levy is projected to increase by 0.67% ($2,116,947 vs. $2,102,880). • Levy limits were eliminated for 2005. • Our net levy is projected to increase by 0.87% ($1,850,304 vs. $1,834,427). To attain a 0% net levy increase, we would have to reduce expenses/increase revenues by $15,877. • Our Fiscal Disparities distribution has decreased by $1,810 ($266,643 vs. $268,453) and has a slightly negative impact on the net levy. • Our Tax Capacity (tax base) has grown by over 14'%~ based on preliminary numbers submitted by the County ($9,544,755 vs. $8,337,269). • Our Tax Rate will drop from 26.289 to 22.7C8'%~ in 2005. This is 13.39% reduction in our tax rate! • We have implemented the levy for the Infrash~ucture Fund based on the amount originally recommended by the Debt Levy Reduction Committee (DLRC) ($157,200, representing a reduction