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si Q <br /> MAYOR <br /> ~~,``a <br /> t r.,, v ~ Hill nlesencr <br /> ~ couNrn, <br /> ~ <br /> a4 RIC.i< Monk»ll' <br /> v'• <br /> n John ]Sots <br /> ~ ~ ~ -~.GGGGG 4/a~a~a MI~-hacl McG~aw <br /> ~ Shelly Boss <br /> <br /> 515 LiYUe Canada Road, Lilile Canada, MN 55 1 1 7-1600 AIJMINISI72ATOR <br /> (651) 766-4029 /FAX: (651) 766-4048 Joel R. Manson <br /> www.ci.little-canada. nm.us <br /> M~MORANllUM <br /> TO: Mayor 131esener & Members of the City Council <br /> r12OM: ,loel Hanson, City Administratm• <br /> DAT'1;: rebruary 19, 2010 <br /> RT: Additional Local Government Aid Cuts/Canadian Days Firewa•Ics <br /> Attached is a projection of the Governor's proposed additional I,GA reductions for 2010 as part of his <br /> efforts to balance the current state budget. As you will note, all of our LCiA will be eliminated <br /> ($196,537). We will also absorb a reduction in our Market Value Homestead Credit of $47,047. This <br /> totals $243,584 for our 201013udget. While this is only the Governor's recommendation, it is safe to <br /> say that a cut of a significant magnitude will be forthcoming. Staff will be putting together <br /> recommendations to address the reductions for your consideration. We are recommending you call <br /> for a workshop for Monday, March 8th at 6:00 p.m. to review this information. <br /> Along those lines, Canadian Days is asking where we stand with our contribution for the fireworks <br /> display. "They are aware of om• budget issues, but would like to get some plans finalised for this year's <br /> event. In recent years, the (reworks display has cost $7,000 with Canadian Days paying $1,000 of this <br /> amount and the City, through our 10% Gambling Fund, paying the balance. <br /> As you will recall, the 10% Fund has some statutory restrictions that iimit how the money can be used. <br /> Given the dramatic reduction in revenues associated with the decline in charitable gaming, this fiord <br /> only has a balance of $71,000 with annual revenues projected $12,000. At our last meeting, we <br /> committed $37,500 to the Thunder Bay Park upgrade. <br /> While Canadian Days would like to see the fireworks continue, I do not believe they would be willing <br /> to take over the entire funding. As a result, we need to decide if this expenditure should Ue continued <br /> given the limited availability of revenues and the other financial pressul•es we will be facing. <br /> Cc: Canadian Days Committee <br /> <br />