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ITEM ~5. <br /> <br />ity of <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Mayor & City Council <br /> Administrato (< <br />Pat Klaers, City .to ,/~~ <br />August 31, 1998 <br /> <br />SUBJECT: 1999 Budget <br /> <br />The first City Council worksession on the 1999 budget is scheduled for <br />Monday, August 31, 1998, in the Training Room following the completion of <br />some regular city business items. The proposed maximum levy must be <br />approved by the City Council and certified to the county no later than <br />Tuesday, September 15, 1998. Additionally, by September 15, the City <br />Council must establish its December public hearing dates for consideration of <br />the 1999 tax levy and budget. <br /> <br />Almost all of the August 31 evening will be dedicated to reviewing and <br />discussing issues related to the 1999 proposed budget. An additional <br />Council worksession to complete the budget review is anticipated to be <br />necessary. The agenda for the budget worksessions looks something like the <br />following: <br /> <br />· Discuss and review 1999 proposed revenues; including the tax class <br /> compression impact on the net tax capacity. <br />· Discuss the 1999 proposed expenditures concentrating on personnel <br /> and capital outlay items. <br />· Discuss the 1998 budget gap. <br />· Review the special levy and special revenue budgets. <br />· Review miscellaneous financial issues. <br />· Review required City Council action before September 15, 1998. <br /> <br />The city budget issues in 1999 are similar to what the city has had to deal <br />with in the past few years. As before, the challenge facing us in 1999 relates <br />to how the city can finance the increased demand for services. The budget <br />concerns in 1999 include how the city can finance the necessary additional <br />personnel, capital outlay items, increases in services, and new programs <br />when the only substantial increase in revenues comes from taxes. This will <br />be especially challenging in 1999 with the continued compression of the tax <br />classes and this impact on the city's net tax capacity (NTC) growth. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />