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enforcement. He did not feel that crime in the City of Mounds View was on the rise. The numbers were a direct result to the diligent actions of the police officers. <br /> <br /> Finance Department Quarterly Report. <br /> <br />Finance Director Beer reviewed the Finance Department’s first quarter report with the Council. He stated the expenditures were on track for the first quarter and the fund balance would <br /> assist with covering these expenses until property taxes were collected in June. He reviewed the revenues collected from the Community Center in detail. <br /> <br />Finance Director Beer commented the Street Improvement Project Fund had a $7 million fund balance and the City could accelerate Project Areas G and H. He noted the cable television <br /> fund may have to be used to assist with technology changes for the City. He indicated franchise renewals were being negotiated at this time. <br /> <br />Finance Director Beer stated interest income was down for the City’s investments. The economy was not improving and the Federal Reserve has been influencing interest rates. He reviewed <br /> the new rates stating there was a significant yield rate loss on the City’s behalf. He anticipated that the Federal Reserve would keep interest rates low until 2014. <br /> <br />Finance Director Beer indicated the State Legislature passed a stadium bill and bonding bill, in addition to a 2012 tax bill. He discussed further how the 2012 tax bill would affect <br /> the City of Mounds View. He noted the housing market has bottomed out and the economy would begin to improve as the housing stock begins to be purchased again. <br /> <br />Mayor Flaherty commented the housing market was beginning to move and houses were selling more quickly than in the past. Finance Director Beer agreed stating the number of calls from <br /> title companies was increasing. <br /> <br />City Administrator Ericson reported today was the end date for applications for the Building Official position. The City received more than 30 applications and Staff will be reviewing <br /> this information with interviews beginning next week. <br /> <br />City Administrator Ericson indicated the 2013 budget priorities would be discussed at the June 4th work session meeting along with long-range planning. He reviewed additional items <br /> planned for the Council to discuss at that meeting. <br /> <br />Mayor Flaherty noted the former Pak building has been repainted. He was pleased to see that this site was being redeveloped. <br /> <br />Council Member Mueller asked when the employee appreciation luncheon would be held. City Administrator Ericson stated the event was scheduled for Wednesday, June 13th at 11:30 a.m. <br /> He invited the City Council to attend the luncheon. <br /> <br />C. Reports of City Attorney.