Laserfiche WebLink
I CITY OF ST. ANTHONY <br />2 TRUTH IN TAXATION MEETING MINUTES <br />3 December 8, 2008 <br />4 <br />5 I. CALL TO ORDER, <br />Mayor Faust called the meeting to order at 7:00 p.m. <br />Ih PLEDGE OF ALLEGIANCE. <br />10 <br />11 Mayor Faust invited the Council and audience to join him in the Pledge of Allegiance. <br />12 <br />13 III. ROLL CALL,. <br />14 <br />15 Present: Mayor Faust; Councilmembers Gray, Roth, Stille, and Thuesen <br />16 Also Present: City Manager Mike Morrison and Finance Director Roger Larson <br />17 <br />1.8 CONSIDERATION, DISCUSSION, AND POSSIBLE ACTION ON ALL OF THE FOLLOWING <br />19 ITEms, <br />20 <br />21 IV. OPEN TRUTH IN TAXATION PUBLIC HEARING <br />22 <br />23 Mayor Faust opened the public hearing at '1:01 p.m. He stated the purpose of the meeting is to <br />24 review the 2009 budget and conduct a Truth in Taxation public hearing. <br />25 <br />26 V. PRESENTATION OF 2009 CITY BUDGET AND TAX LEVY BY MIKE MORNSON <br />27 CITY MANAGER, AND ROGER LARSON, FINANCE DIRECTOR. <br />28 <br />29 City Manager Morrison presented the highlights of the 2009 budget for the City of St. Anthony. <br />30 <br />31 City Manager Morrison explained the distribution of property tax dollars. He pointed out that tax <br />32 dollars are divided into four parts: 32.6% goes to the City, 26.4% goes to the County, 33.7% <br />33 goes to the School District, and 7.3% is allocated for other districts. <br />34 <br />35 City Manager Morrison explained the General Fund Budget stating there is a 5.58% increase of <br />36 $278,800 over 2008, resulting in a 2009 budget of $5,277,400. He stated to fund the budget, the <br />37 Levy increased by 5.31 % or $148,611 over the 2008 levy for a total General Fund levy of <br />38 $2,945,511 for 2009. <br />39 <br />40 The Capital Equipment Budget for 2009 consists of a Police Department allocation of $121,000, <br />41 a Fire Departments allocation of $35,200, a Public Works Department allocation of $217,000, <br />42 finance and administration's allocation of $26,800. <br />43 <br />44 The City had some debt activity in 2008. They issued a $1,910,000, 15 year Road Improvement <br />45 Bond for the Silver Lake Road Project and paid off the 1999A and 2003D Road Improvement <br />46 Bonds, which reduced the levy by $87,000. This offset the Silver Lake Road Levy by $37,000 <br />47 and the Emerald Park Tax Abatement by $50,000. The City has $12 million dollars outstanding <br />48 in Road Improvement Bonds, $10 million dollars funded through the increment, G.O. <br />49 Assessment Bonds for 39`x' Avenue equaling $670,000, storm water bonds in the amount of <br />