CC RES 03-075 A RESOLUTION SETTING THE CITY OF ST. ANTHONY PROPOSED 2004 TAX LEVY AND BUDGET IN COMPLIANCE WITH THE TRUTH IN TAXATION ACT

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• MEMORANDUM DATE: September 2, 2003 TO: Mayor and Councilmembers FROM: Michael Mornson, City Manager SUBJECT: 2004 CITY TAX LEVY Enclosed please find Resolution 03-075, prepared by the Finance Director setting the City's 2004 levy. As you know, the levy is impacted this year by changes made at the State level which effected revenue that the City received in the LGA program. The City will receive $267,348 less in State Aid in 2004 than the City was to receive in 2003. The State is allowing cities to make up 60% of the loss in revenue by authorizing levy increases. This would provide the City with$160,409 of the $267,348 reduction. There is no other authority given to cities to adjust for inflation increases, cost of living increases, etc. is The debt levy for roads equipment, Public Works and Fire Station are exempt from levy limits. The following changes have been or will be implemented to balance the 2004 budget: 1. Budget line item cuts (VillageFest fire works. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $26,500 volunteer dinner, ACTION contribution) 2. Staff reductions (4 vacancies have not been replaced . . . . . . . . . . . . . . . . . . . . . $100,000 1 Public Works employee 1 Community Service officer 2 full time liquor clerks 3. Future staff reduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . est. $64,000 1 equivalent full time not to be replaced, restructure 1 full time office position to 3/4 4. 0% increase in salaries for 2004 (needs to be negotiated with the unions. 5. Capital equipment budget reduced from $500,000 annual to $150,000. This is funded by liquor store profits and revenue from Lauderdale and Falcon Heights contracts. We're not sure how much revenue will get from liquor operations in 2004 because of the shut down of one store for 6 months.