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City Council Regular Meeting Minutes September 13, 2011 Page 3 B. Resolution 11 -054; Proposed 2012 Tax Levy and Budget in Compliance with the Truth in Taxation Act_ Roger Larson, Finance Director, presenting. 4 Finance Director Larson presented the proposed 2012 tax levy and budget and stated that eight 5 meetings have been held to date as part of the overall budget process. He advised that Truth in 6 Taxation notices will be mailed to property owners on November 15th and the final presentation 7 and approval of the 2012 budget and tax levy by the City Council will occur on December 13tH 8 He explained that the proposed 2012 budget of $5,498,650 represents an increase of $20,650 or 9 0.38% over the 2011 budget and the 2012 proposed general operating levy of $3,045,166 10 represents an increase of $99,655 from 2011. He reviewed the .proposed 2012 General Fund 11 revenues and expenditures as well as the 2012 total proposed levies. He advised that the 12 proposed increase in all levies to $5,223,089 represents an overall increase of $239,344 or 13 4.80 %, and noted that the City had the same levy for 2009, 2010, and 2011. He also explained 14 what the General Fund levy supports, the City's issuance of debtilevy impact, and grant monies 15 received by the City, and encouraged residents to contact him with any questions. 16 17 Councilmember Stille stated that the three year averaging method used by the City to prepare its 18 budget is intended as a tool to figure out what makes sense for budgeting purposes, and it is 19 important to recognize that the budget always contains some anomalies. He indicated that the 20 proposed capital equipment budget includes some big ticket items as well as some deferred 21 maintenance on other assets and this has been a challenge with the City's levy being kept flat. 22 He noted that the City resists debt and pays cash for things and added that the City staff has done 23 a good job in preparing the budget. 24 25 Mayor Faust stated that the City has been able to increase its bond rating to the highest possible 26 rating based on the City's size and this is because the City does not issue debt along with the 27 City's long range planning efforts. 28 29 Motion by Councilmember Gray, seconded by Councilmember Roth, to approve Resolution 11- 30 054; Setting the City of St. Anthony Village Proposed 2012 Tax Levy and General Operating 31 Budget. 32 33 Motion carried 4 -0. 34 35 VII. REPORTS FROM CITY MANAGER AND COUNCIL MEMBERS. 36 37 Interim City Manager Hartman reported on the following: 38 • A new outdoor warning siren has been installed and was funded through the Minnesota 39 Department of Homeland Security using FEMA grant funds. He noted that the old siren 40 was located on the south side of well house #4 and the new siren is 250 feet north of that 41 location to take advantage of the back -up generator at the fire station. He commended 42 Fire Chief Malenick for securing the $19,000 FEMA grant for the siren. 43 Staff will begin contract negotiations with the Police and Public Works bargaining units 44 and anticipate completing those negotiations the end of October. 45