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25474ceemaek <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City' Administrator <br />DATE: December 13, 1996 <br />RE: Adoption of 1997 Budget <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaVaile <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />We will need to open the public hearing at which time the updated 1997 budget information <br />will be presented. I will include a summary of the revised levy impact. At the conclusion of <br />public comment, the hearing should be closed and we can take the following steps: <br />* Adopt 1997 budget <br />* Certify tax levies (including those reducing debt levies) <br />* Ratify salary recommendations <br />* Ratify capital improvement plan <br />* Ratify 10% Fund prioritization <br />The revised budget document is included for your review. The General Fund levy has been <br />impacted in a positive manner. The total net levy has been reduced from 2.30% discussed at <br />our Truth in Taxation hearing to 1.86 %. Our projected tax capacity rate is 20.418 %, a <br />reduction of .16% from our payable 1996 rate of 20.452 %. The levy reduction is possible <br />due to the following: <br />* Increase in pawn shop license fee of $2,000 ($6,500 to $8,500 assuming <br />approval at Wednesday's meeting). <br />* General Fund insurance expense reduction of $1,050 based on 1997 renewal <br />rates. (Overall savings is about $4,000.) <br />* Reduction in administration salary and benefits of $420 based on recent hiring <br />decisions. <br />* Reduction in administration of $950 for health insurance costs based on recent <br />hiring decisions. <br />* Street Department reduction of $800 for health insurance costs based on recent <br />hiring decisions. <br />PAGE 53 <br />