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REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 9. <br /> 1111ONJf STAFF REPORT Report Number: 97-367WS <br /> 708 <br /> AGENDA SESSION DATE September 8, 1992 Report Date: 9-3-92 <br /> DISPOSITION <br /> Item Description: <br /> PROPOSED 1993 PROPERTY TAX LEVY <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> Pursuant to the State Truth In Taxation Law the following actions must be taken at the <br /> September 14, 1992 Council Meeting: <br /> 1) A Proposed 1993 Property Tax Levy must be certified to Ramsey County. The <br /> proposed levy may not be exceeded when adopting the Final Levy at the City's Budget <br /> Hearing. <br /> 2) The City must set a date for it's Budget Hearing and a date for a continuation of the <br /> Hearing if necessary. <br /> Setting a date for the City's Budget Hearing is the easy decision. It must be held between <br /> November 29 and December 20. The Hearing may not be held on the same day that the <br /> County or School District hold their hearings. The County and the School District choose <br /> their dates before the City. The County's Budget Hearing will be held on December 8, 1992 at <br /> 6:00 p.m. The School District's Hearing will be held on December 7, 1992 at 6:00 p.m. and if <br /> necessary a continuation of their Hearing will be held on December 14, 1992. Staff <br /> recommends that the City hold it's Budget Hearing on December 9, 1992 at 6:00 p.m. and if <br /> —neeessary-a-continuation---Hearing-on-December-16-1-992-at 6;00 p.m. <br /> At the present time the City's proposed General Fund Budget has been balanced using the <br /> following assumptions: <br /> • The proposed 1993 property tax levy will be approximately the same amount that was <br /> levied in 1992. <br /> • In 1993 the City will use $44,255 of Fund Balance to help achieve a balanced budget <br /> ($6,072 for squad cars & $38,183 from 1991 unappropriated Fund Balance). <br /> • A gas and electric franchise fee will be adopted and $154,561 of the franchise fees <br /> will be used to balance the Budget. <br /> RF,COMMENDATION; <br /> Donald Brager, Finan Director <br />