4. SR 12-11-1995 - Laserfiche WebLink

Home Browse Search

( ty of� k lRiver • TO: INTRODUCTION ITEM 4. MEMORANDUM MAYOR AND CITY COUNCIL FROM: PAT KLAERS, CITY AD TR DATE: DECEMBER 7, 1995 SUBJECT: 1996 BUDGET AND TRUTH IN TAXATION HEARING The City of Elk River General Fund Budget public hearing is scheduled for 7:00 p.m., Monday, December 11, 1995, at the Elk River City Hall. This budget public hearing will follow the Economic Development Authority meeting. This public hearing is required by the Truth in Taxation law. The • purpose of the public hearing is to receive citizen input on the proposed 1996 City of Elk River budget and tax levy. Notice of this public hearing has been sent out by the county to each property owner within the city. Along with this notice for the public hearing was information on the property owners' proposed taxes. Additionally, a public hearing notice for this meeting was published in the 12/6/95 Elk River Star News. Information on the 1996 proposed budget, the tax levy, and this public hearing was also published in the October and December 1995 city newsletters. In September 1995, the City Council adopted the proposed maximum budget and levy. In accordance with these previous decisions, a balanced budget in the amount of $4,094,750 is proposed. This 1996 budget proposal reflects a 9.71 percent or $362,500 increase over the adopted 1995 budget. The proposed city net tax levy for 1996 is $2,570,439. Of this total, approximately 82.8 percent or $2,128,501 is for General Fund activities. The balance (17.2 percent of the total net tax levy) is used for special assessments, equipment certificates, previous bond issues, the dam loan, the library, and the surface water management program. The proposed net levy increase for 1996 is $347,092. Of this net tax levy increase, $337,400 is for the General Fund. 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441 -7420 • Fax: (612) 441 -7425