6.0. SR 12-01-1997 - Laserfiche WebLink

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~.,ty of River Item #6. MEMORANDUM TO: FROM: DATE: SUBJECT: Mayor & City Council Pat Klaers, City Adm~ December 1, 1997 ~ 1998 Budget The City of Elk River tax levy and budget public hearing is scheduled for 6:00 p.m., Monday, December 1, 1997, at the Elk River City Hall. The public hearing on the budget and tax levy is required by the Truth in Taxation law. The purpose of this public hearing is to receive citizen input on the proposed 1998 city budget and tax levy. Notice of this public hearing has been sent out by the county to each property owner in the city. Part of this Truth in Taxation notice included information on the property owners proposed city, school, and county taxes for 1998. A public hearing notice for this meeting was published in the November 26, 1997, Elk River Star News. A budget and tax levy article was also in the Elk River city newsletter, The Current, which was distributed with the 11/26/97 edition of the Star News. In September 1997, the City Council adopted a resolution which established the proposed maximum tax levy and budget. The maximum levy is $3,300,759. Of this total, approximately 84 percent or $2,782,250 is for general fund activities. The balance, approximately 16 percent of the total net tax levy, is used for other City Council approved expenditures such as equipment certificates, operation and maintenance of the library, special assessments, the dam loan, etc. In September 1997, the City Council accepted expenditures in the amount of $4,977,200. This reflected a 9.73 percent increase from the adopted 1997 general fund expenditures. The tax levy in the general fund was projected to increase $341,100 or 14 percent. This increase was based on the maximum allowed by the state levy limits law. 13065 Orono Parkway ° P.O. Box 490 · Elk River, MN 55330 ° TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425