CC WORKSESSION 09021997 - Laserfiche WebLink

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MEMORANDUM DATE: August 20, 1997 TO: Mike Morrison, City Manager FROM: Roger Larson, Finance Director ITEM: 1998 LEVY /BUDGET St. Anthony received final notification from the State of Minnesota regards the City's 1998 levy limit, Local Government Aid and HACA distributions. The proposed levy limit that was discussed at the July work session totaled $1,566,767. This amounted to a $36,371 increase or 2.4 %. Final notification from the State sets the levy limit at $1,589,609 ($59,603 or 3.9 %). 1998 Local Government Aid totals $140,979 which is down $496 dollars from 1997. HACA remained the same amount as last year at $334,378 while Local Performance Aid increased $1,706 dollars to $11,134. The public hearing dates for Hennepin/Ramsey Counties, School District #282 and the Special Taxing Districts have been set. I have attached a calendar, which indicates the open dates, which the City can hold its truth in taxation hearing and continuation hearing. In addition to the levy limit restriction, the Truth in Taxation Notice publishing the hearing date has been revised. In previous years, the notice primarily said, "Attend the Public Hearing ", giving the date, time and place of the hearing. This year, the notice must include the percentage of budget increase and the percentage of levy increase in the notification. Recommendation 1) Council set the 1998 levy (2.4% to 3.9% increase). 2) Council select the Truth in Taxation public hear date (proposed December 3rd) and the continuation hearing date (proposed December 17th).