Laserfiche WebLink
Mounds View City Council September 11, 2006 <br />Regular Meeting. Page 4 <br />years of no levy increases. <br />Mayor Marty stated that once the levy is approved, it cannot be raised, and it is being approved at <br />a 0% increase. <br />MOTION/SECOND: MARTY/FLAHERTY. To waive the reading and adopt Resolution 6933 <br />Authorizing Certification of the Proposed General Fund Budget and Property Tax Levy for Fiscal <br />Year 2007. <br />Councilmember Stigney stated the City has used Medtronic revenue in the levy reduction fund <br />prior to reducing the budget, which he hopes will be reduced. <br />Councilmember Stigney also noted his confusion about the numbers. He said one of the major <br />items, the $188,000 for the street reconstruction fund, is not shown in the report and asked that <br />everything be reflected in the report. He stated the number is part of tax levies the City provides <br />to the residents and he is having difficulty seeing how it balances. <br />Finance Director Beer replied that all taxes could be recorded in the general fund, then <br />transferred to the debt service fund so all taxes are shown in one fund. He stated if the City <br />issues more bonds as the street improvement projects are increased, the amounts moved in and <br />out of the general fund may be quite large. <br />Finance Director Beer stated the proper accounting practice is to record the tax revenue in the <br />fund from which the City will pay the debt service. He stated one fund could be established for <br />all of the taxes so citizens could understand it better, however. Councilmember Stigney stated he <br />would appreciate such action. Mayor Marry suggested an addendum be added to the report <br />indicating the taxes. <br />Ayes - 5 Nays - 0 Motion carried. <br />D. Resolution 6932 Establishing Public Hearing Dates for the Proposed General <br />Fund Budget and Property Taz Levy for Fiscal Year 2007. <br />Finance Director Beer stated that as a result of certifying a 0% levy increase, the City could hold <br />a truth-in-taxation hearing. He stated that the City is not required to hold such a hearing, but they <br />could do so to provide an opportunity for citizens to comment on the budget. He recommended <br />that the Council approve a preliminary hearing on December 4, 2006, and December 11, 2006 as <br />the follow-up hearing. He stated the approval of the budget will happen at the December 11 <br />meeting. <br />Mayor Marty noted that he and the Council support a hearing even though there is a 0% levy <br />increase. Finance Director Beer noted that the City does not have to comply with the full <br />notification process, and that would save the City money. <br />r MOTION/SECOND: THOMAS/STIGNEY. To waive the reading and adopt Resolution 6932 <br />