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Item No. 7H <br />Type of Business: CB <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; CB: Council Business City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Charles Hansen, Finance Director <br />Item Title/Subject: Resolution Authorizing Certification of the <br />Proposed General Fund Budget & Property Tax <br />Levy for the Fiscal Year 2003 <br />Date of Report: September 5, 2002 <br /> <br /> <br />Attached is Resolution 5837 that approves the proposed General Fund Budget <br />and preliminary property tax levy for the year 2003. The preliminary property tax <br />levy will be certified to Ramsey County for use in the Truth in Taxation notices <br />mailed to property owners in November. <br /> <br />The preliminary property tax levy is the maximum allowed under the State of <br />Minnesota levy limitation law. Later in the budget process, the City Council may <br />lower the property tax from the amount established here. However, if the <br />property tax approved now is less than the maximum allowed by the levy <br />limitation law, the City Council will not have the option of raising it later. <br /> <br />The City Council has the authority to change or adjust all other amounts in the <br />budget between now and the time of its final adoption in December. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Charles Hansen