07-14-1997 CC (2) - Laserfiche WebLink

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recommendations for programs which would be a good start for the City. I have collected information on business loan programs from Hopkins, Brooklyn Park, Ramsey County, Detroit Lakes and Columbia Heights. At the next meeting on November 17th Vandais Heights Economic Development Corporation and City Administration will discuss the process their City went through to make a hotel development a reality. Cathy FINANCE • The City Council reduced the City's proposed 1995 property tax levy at the November 7 Agenda Session from a 4.30% increase to a 2.67% increase over the 1994 property tax levy. The City's portion of the 1995 property tax bill on the average home in Mounds View($87,060) is estimated to increase by 2.65%, or $6.82. The City's final property tax levy will be considered by the Council at a public hearing on the 1995 budget to be held November 30, 1994. • It is time to start thinking about 1995 flexible spending accounts. Finance staff is in the process of preparing information to be distributed to all City employees regarding 1995 enrollment. Accounts may be used for medical expenses not reimbursed by health care plans and/or child care expenses. • Finance staff is busy preparing financial reporting and payroll software systems for the 1995 debut of the many new programs added with the 1995 program performance budgeting system. Information regarding new program account numbers will be distributed to City staff soon. • At the November 7, 1994 Agenda Session I was given direction by the Council to contact the auditors and to negotiate a new proposal for auditing services. The new proposal results in a savings to the City of $1,850. The new proposal is included in Council packets for consideration at the November 14, 1994 Council meeting. Don