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HomeMy WebLinkAbout11/30/1998 Council Packet TRUTH IN TAXATION HEARING NOVEMBER 30, 1998 - 6:00 P.M. AGENDA I. Opening Statement- Mayor Kim Sullivan II. Presentation of the 1999 Recommended General Fund Budget III. Open time for Public Questions and Comments IV. Reminder that 1999 Budget will be adopted on December 14, 1998 at the regular City Council Meeting. PUBLIC HEARING PROCEDURES 1. All comments and questions must be made at the podium in order to be recognized by the Council and to be made part of the record. 2. Please state your name and address. 3. Please limit your questions and comments to three (3) minutes. City of Lino Lakes General Fund Revenues Franchise Fees Miscellaneous Administrative Fees Intergovernmental Revenue Investment Interest Fines Licenses & Permits Charges for Services Public Safety Property Taxes Grand Total $5,112, 939. 00 Page 2 City of Lin© Lakes General Fund Expenditures Administration Public Services Community Development M Ails MAdmi 1istration �, �y OCommunity Development OPublic Safety WI Public Services All o �^ a Public Safety Grand Total $5112,93900 Page 3 Where Your Tax Dollars Go Other Districts 5% City of Lino Lakes 27% eClty of Lino Lakes (♦Anoka County ©Centennial School ®other Districts Centennial School Anoka County 45% 23% Page 4 CITY OF LINO LAKES COMPARISON OF FINAL 1998 AND PROPOSED 1999 TAX LEVY Final Proposed 1998 1999 Difference % Change General Fund Levy 3,274,526 3,505,964 231,438 7.07% Public Project Revenue Bond 125,882 122,417 (3,465) -2.75% Certificate of Indebtedness 1996 83,475 88,200 4,725 5.66% Certificate of Indebtedness 1997 105,896 88,200 (17,696) -16.71% Certificate of Indebtedness 1998 0 135,225 135,225 Civic Complex Bond 1998A ** 0 280,676 280,676 G.O. Improvement Bond 1998B 0 146,007 146,007 *** sub-total of bond payments 315,253 860,725 545,472 Total Levy 3,589,779 4,366,689 776,910 21.64% Less HACA 421,956 416,394 Net Levy 3,167,823 3,950,295 24.70% City Tax Rate 30.437 38.801 Proposed Tax Rate Constant Spending Levy Estimate 3,589,779 31.731 Additional Bond Payments 545,472 4.964 Additional General Fund 231,438 2.106 Total Levy 4,366,689 38.801 Page 5