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12/01/1993 Council Minutes
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12/01/1993 Council Minutes
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City Council
Council Document Type
Council Minutes
Meeting Date
12/01/1993
Council Meeting Type
Board of Appeal
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1 <br />1 <br />1 <br />TRUTH IN TAXATION PUBLIC HEARING DECEMBER 1, 1993 <br />personnel. Other areas show an increase in spending because the <br />City is growing in population which require added services such <br />as police protection and street maintenance. In the area of <br />Economic Development, the City is planning to contract with a <br />full time director. Currently the Director is part time. <br />The 1994 Operating Fund Revenue Budget was outlined by Mr. <br />Schumacher. He noted that 58.3% of the revenues needed to <br />operate the City come from taxes. Other sources of revenues <br />include intergovernmental revenues (State Aid), licenses and <br />permits, fines and forfeits, investments and other miscellaneous <br />charges for services. <br />Mr. Schumacher noted that recently the Governor and many other <br />state officials are saying that the State revenue forecast is <br />very good and there is a possibility of returning some of the <br />revenues to the tax payers. However, this bright forecast does <br />not include the "pot" containing state aid funds for <br />municipalities and school districts. There is a possibility the <br />state aid for municipalities could be reduced. If this happens, <br />Lino Lakes would be forced to take money from the Reserve Fund to <br />balance the 1994 Operating Budget. <br />Mr. Schumacher explained that a new requirement of "Truth in <br />Taxation" requires that each municipality list separately all new <br />proposed personnel and employee services. He noted that <br />approximately 57.01% of the 1994 Operating Budget is planned for <br />personnel services. The metropolitan area average is 64%. <br />The City Council did not have any questions for Mr. Schumacher to <br />answer. Mayor Reinert opened the public hearing at 7:00 P.M. He <br />asked all persons wishing to speak to come forward to the podium, <br />give their name and address and state their question. <br />Mike Wells, 7200 Snow Owl Lane asked what makes up the bulk of <br />the $1,955,862.00 recommended 1994 levy? Mr. Schumacher <br />explained this is the General Fund levy. This makes up the. bulk <br />of the operating funding. He referred to the Summary on Exhibit <br />7 which details where the revenues are spent. Mr. Wells said <br />that nothing adds up to $1,955,862.00. Ms. Vaske explained that <br />$3,352,449.00 is needed to operate the City for 1994.. Staff has <br />determined the dollars that can be generated by service charges, <br />fines, license and permits, State Aid and other sources (see <br />Exhibit 8) and the difference ($1,955,862.00) is the amount that <br />the City must levy on the property taxes. She also explained <br />that the City must prepare a balanced budget whereexpenditures <br />equal revenues. Ms. Vaske explained that it was also determined <br />that a levy $1,955,862.00 would not increase taxes. <br />PAGE 3 <br />3�. 4.4 <br />
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