CC TRUTH IN TAXATION MINUTES 11301999

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1 - - - - CITY OF ST.ANTHONY. s TRUTH IN TAXATION HEARING —3 NOVEMBER 30, 1999 4 I. CALL TO ORDER/PLEDGE OF ALLEGIANCE. 5 The meeting was called to order at 7:00 p.m. followed by the Pledge of Allegiance led by Mayor 6 Ranallo. 7 II. ROLL CALL. 8 Councilmembers present: Mayor Ranallo, Cavanaugh, Marks, Faust and Thuesen 9 Councilmembers absent: None 10 Also present: Michael Mornson,-City Manager; William R. Soth, City Attorney. 11 III. OPEN TRUTH IN TAXATION PUBLIC HEARING 12 Mayor Ranallo opened the public hearing at 7:02 p.m. 13 Ranallo reviewed for the audience the budget process for the City. He stated that the Truth in 14 Taxation Hearing was not a meeting regarding the valuation of property, but rather a presentation 15 of the City's proposed budget for the next year. Ranallo reminded the audience that a hearing 16 regarding valuation of property would be held at the Board of Review in April 2000. Ranallo further stated that the City has extensively studied the budget, made modifications, and on September 14, 1999, a dollar figure for the budget was adopted. Ranallo mentioned that 1999 19 is the first year that a hearing has been required in order to adopt the City's budget. 20 Ranallo continued by stating that the City has proposed a tax increase of 1.8%. However, 21 residents could experience a decrease in taxes because the valuation of property has increased 22 over the last year. The residential tax base is at 74%; apartments, 12%; commercial, 12%; and 23 other all other tax bases are 2%. Ranallo clarified that only the City's portion of the total budget 24 is discussed at the Truth in Taxation meeting. Consequently,the School District and the County 25 has a separate hearing for each of those specific budgets. 26 IV. PRESENTATION OF 2000 CITY BUDGET AND TAX LEVY BY CITY MANAGER 27 AND FINANCE DIRECTOR 28 Ranallo introduced Roger Larson, City Finance Director, and Michael Momson, City Manager, 29 and invited them to address the Council. 30 Mornson stated that the Truth in Taxation hearing is held to receive input from the public about 31 the proposed budget for the following year. 32 Morrison presented the Second Draft of the City's proposed 2000 budget, and in particular, 33 directed the Council's attention to the General Fund Statement of Revenues, Expenditures, and 4 Changes in Fund Balance. This Statement reflected that the budget has revenues proposed at $3,527,450, which is a 4.91 % increase over 1999 budget.