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Mounds View City Council December 3, 2007 <br />Truth-in-Taxation Meeting Page 2 <br /> <br /> 1 <br />Finance Director Beer explained that these are ongoing transfers over the years. Staff uses a 2 <br />transfer to the utility fund and there is a large transfer from the levy reduction fund. The total 3 <br />transfers are approximately $600,000. 4 <br /> 5 <br />Brian Amundsen of 3048 Wooddale Drive asked whether the 22% includes the capital projects 6 <br />for contract services. 7 <br /> 8 <br />Finance Director Beer indicated it does not. 9 <br /> 10 <br />Mr. Amundsen said that the Staff had said to expect 15% increase in 2009. 11 <br /> 12 <br />Finance Director Beer indicated that, based upon 2008 figures, there would be about a 10.5% 13 <br />increase for the street improvement fund. 14 <br /> 15 <br />Council Member Flaherty asked the size of the levy reduction fund. 16 <br /> 17 <br />Finance Director Beer indicated that the fund balance is $6.5 million with interest income of 18 <br />$225,000 for this year. 19 <br /> 20 <br />Council Member Flaherty said that the City is using principal of $100,000 from the fund. 21 <br /> 22 <br />Finance Director Beer pointed out that the 14 or 15% is a one year thing so in 2010 it could be 23 <br />only a 3% increase. 24 <br /> 25 <br />Council Member Mueller asked for the criteria that local government aid is based upon. 26 <br /> 27 <br />Finance Director Beer explained that the formula has been a source of controversy. He then 28 <br />provided information on the criteria. 29 <br /> 30 <br />Council Member Mueller asked what per capita means. 31 <br /> 32 <br />Finance Director Beer explained that it means per person. 33 <br /> 34 <br />Council Member Mueller pointed out that the price per person within the City is very low 35 <br />compared to other cities. 36 <br /> 37 <br />Council Member Mueller noted that personnel is 60% of the budget and she would like 38 <br />information on the number of full time employees. 39 <br /> 40 <br />Finance Director Beer indicated that there are 51 full time employees, and 22, of which are in the 41 <br />police department. 42 <br /> 43 <br />Council Member Mueller said that she was under the impression that taxes were based upon 44 <br />valuation of your home. 45