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2014 Finance Department Annual Report
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2014 Finance Department Annual Report
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16 V. Long Term Financial Management <br />2014 Annual Report · Public Works Department · St. Anthony Village, Minnesota <br />“PEAK TO PLATEAU” <br />City Council and Staff again held workshops to review progress on the City’s Street improvement program <br />and the options available for the years remaining. This analysis included: <br /> · Planning use of debt service funds not required for debt retirement <br /> · Reviewing future construction costs adequacy <br /> · Evaluating Streets reconstruction dates and options <br /> · Identifying additional resources for the streets program <br />The process resulted in a reaffi rmation of the scheduled reconstruction dates. Resources totaling <br />$147,500 were identifi ed and assigned to mitigating the increase in the 2015 Road Debt Levy. The <br />Street Levy reduction plan as developed will lower the unchecked high point of the levy until the point <br />the City benefi ts from prior road debt retirement. Thus replacing a peaking levy with a plateauing levy as <br />demonstrated by the graph below.
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