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MINUTES <br />CITY OF HUGO <br />CITY COUNCIL MID -YEAR BUDGET REVIEW WORKSHOP <br />TUESDAY, AUGUST 19, 2014 <br />7:00 PM <br />Mayor Weidt called the meeting to order at 7:04 pm <br />Present: Bronk, Haas, Klein, Petryk, Weidt <br />Absent: None <br />Also Present: City Administrator Bryan Bear, Finance Director Ron Otkin, Fire Chief <br />Kevin Colvard, Deputy Fire Chief Jim Compton, Jr., Assistant Fire Chief Jim Fordham, <br />Public Works Director Scott Anderson, Accounting Clerk Anna Wobse, and City Clerk <br />Michele Lindau <br />Presentation of Budget <br />Finance Director Ron Otkin presented a PowerPoint slideshow to the Council to review <br />the 2014 mid -year budget and to lay the groundwork for the 2015 budget and tax levy. <br />Ron explained that the Council's policy of keeping a flat tax rate means that taxes fall <br />when property values decline and vice -versa. With rising values, additional taxes can be <br />levied for payable 2015. He suggested that this additional tax revenue be used to fund <br />the city's Capital Improvement Program and to add a deputy to the law enforcement <br />contract. He also suggested a long-term plan for paying off the city's bonded debt. Ron <br />explained that the budget is balanced and the proposed tax levy keeps the urban tax rate <br />the same, based on staff's estimate of tax capacity. <br />The Council made inquiries of staff pertaining to the chip seal program and property tax <br />rebate programs available from the state. <br />Council directed staff to prepare a preliminary tax levy resolution for consideration at the <br />September 15, 2014 meeting. <br />The meeting adjourned at 8:05 p.m. <br />Respectfully Submitted, <br />Michele Lindau <br />City Clerk <br />