HomeMy WebLinkAbout09/02/1997 Council Minutes•
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COUNCIL BUDGET WORK SESSION SEPTEMBER 2,1997
CITY OF LINO LAKES
MINUTES
DATE September 2, 1997
TIME STARTED • 4:00 p.m.
TIME ENDED ▪ 5:22 p.m.
MEMBERS PRESENT Council Members Bergeson, Kuether Neal
and Mayor Landers
MEMBERS ABSENT Council Member Lyden
Staff members present: Finance Director, Mary Vaske, City Administrator, Randy
Schumacher and Clerk -Treasurer Marilyn Anderson.
Staff presented their budget proposals at the August 7th budget work session. The
purpose of this meeting is to determine a preliminary budget for certification to the
County by September 15th.
Since the first budget work session, staff has worked together ' o ., ooperative
and creative way to prepare a balanced budget for Counci a ed with
three (3) goals in mind: 1) meet goals of the departm he s; in financing for
the Village, and 3) tax reduction.
Over $1,000,000 in expenditures hav
addition, $162,000 was added t
balance. Staff plans to pa
Staff noted that t
franchise fees. St
franchise fees.
e August 7th budget proposal. In
t 997 General Fund reserve fund
fu ''d from reserves in the TIF fund balances.
roposal does not address road reconstruction or
sing to prepare a street improvement plan financed by
Ms. Vaske noted that the Truth in Taxation public hearing has been scheduled for
December 14, 1997 and the final 1998 Budget will be adopted by the Council at their last
Council meeting of the year.
Council directed staff to prepare an estimate of the amount of taxes collectable due
entirely to the addition of new construction and the automatic increase in property values.
Staff noted that Tax Increment Districts 1-1 and 1-2 will be eliminated. This will bring
another $120,000 into the general fund. Staff also noted that building permit revenues
will continue to decline due to the reduction in new home building permits.
Staff presented a handout showing all of the new requests for funding requested by the
department heads at the August 7th budget meeting. This list shows the amount of dollars
requested for the items and the items proposed by the City Administrator for funding.
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COUNCIL BUDGET WORK SESSION SEPTEMBER 2,1997
Council reviewed the City Administrators recommendations and discussed several items.
Staff asked that the Council take some time to review the recommendations and bring
their comments and proposals to the Council meeting on Monday evening.
Council discussed the financing of the civic buildings. Ms. Vaske noted that the City
would not be selling bonds in 1997 unless bonding is needed for the civic buildings. She
presented a proposal to avoid arbitrage. Ms Vaske also proposed that the 1996 and the
1997 Certificates of Indebtedness be paid off early. This will free additional dollars to be
used to fund the civic complex.
Council will review the staff recommendation and call either Mr. Schumacher or Ms.
Vaske if they have further questions.
The meeting was adjourned at 5:22 p.m.
These minutes were considered, corrected and approved at . lar Cou , cil meeting held
on June 14, 1999.
M ilyn G. Anderson, Clerk -Treasurer
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