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4 <br />Gel <br />CITY OF ST. ANTHONY <br />TRUTH IN TAXATION MEETING MINUTES <br />December 8, 2008 <br />I. CALL TO ORDER. <br />Mayor Faust called the meeting to order at 7:00 p.m. <br />9 II. <br />10 <br />11 Mayor Faust invited the Council and audience to join him in the Pledge of Allegiance. <br />12 <br />13 III. <br />14 <br />15 Present: <br />16 Also Present: <br />17 <br />18 CONSIDERATION, DISCUSSION, AND POSSIBLE ACTION ON ALL OF THE FOLLOWING <br />19 ITEMS. <br />20 <br />21 IV. <br />22 <br />23 <br />24 <br />25 <br />PLEDGE OF ALLEGIANCE. <br />ROLL CALL. <br />Mayor Faust; Councihnembers Gray, Roth, Stille, and Thuesen <br />City Manager Mike Morrison and Finance Director Roger Larson <br />26 V. <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />OPEN TRUTH IN TAXATION PUBLIC HEARING <br />Mayor Faust opened the public hearing at 7:01 p.m. He stated the purpose of the meeting is to <br />review the 2009 budget and conduct a Truth in Taxation public hearing. <br />PRESENTATION OF 2009 CITY BUDGET AND TAX LEVY BY MIKE MORNSON <br />CITY MANAGER, AND ROGER LARSON, FINANCE DIRECTOR <br />City Manager Morrison presented the highlights of the 2009 budget for the City of St. Anthony. <br />City Manager Morrison explained the distribution of property tax dollars. He pointed out that tax <br />dollars are divided into four parts: 32.6% goes to the City, 26.4% goes to the County, 33.7% <br />goes to the School District, and 7.3% is allocated for other districts. <br />City Manager Morrison explained the General Fund Budget stating there is a 5.58% increase of <br />$278,800 over 2008, resulting in a 2009 budget of $5,277,400. He stated to fund the budget, the <br />Levy increased by 5.31% or $148,611 over the 2008 levy for a total General Fund levy of <br />$2,945,511 for 2009. <br />The Capital Equipment Budget for 2009 consists of a Police Department allocation of $121,000, <br />a Fire Departments allocation of $35,200, a Public Works Department allocation of $217,000, <br />finance and administration's allocation of $26,800. <br />The City had some debt activity in 2008. They issued a $1,910,000, 15 year Road Improvement <br />Bond for the Silver Lake Road Project and paid off the 1999A and 2003D Road Improvement <br />Bonds, which reduced the levy by $87,000. This offset the Silver Lake Road Levy by $37,000 <br />and the Emerald Park Tax Abatement by $50,000. The City has $12 million dollars outstanding <br />in Road Improvement Bonds, $10 million dollars funded through the increment, G.O. <br />Assessment Bonds for 39`h Avenue equaling $670,000, storm water bonds in the amount of <br />