5.8. SR 09-13-1999 - Laserfiche WebLink

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rCI ---'\) ( )j ~ll< ITEM #5.8. MEMORANDUM River FROM: Mayor & City Council Pat Klaers, City Administra~ September 13,1999 TO: DATE: SUBJECT: City Budget The City Council has held 3 worksessions on the 2000 budget. The results of these worksessions produced a balanced general fund budget in the amount of $5,862,500. The largest revenue category in the general fund, taxes, increased by $317,150. Due to an approximately 5 percent increase in the net tax capacity of the city (excluding decertified TIF districts), it is estimated that the impact on homeowners for the city's share of the property tax bill will be minor. . The largest expenditure category, personal services, increased substantially due to the addition of a number of employees including a police officer, a half- time building maintenance employee, a seasonal building inspector, a fire department employee, and a half-time street maintenance employee. This category comprises approximately 72 percent of the total general fund expenditures. At the September 7, 1999, budget worksession the council decided to hold a public hearing tonight on the tax rate increase for 2000 per the new state law. However, staff became aware that a newspaper article on this public hearing would not get published in the 9/8 Star News, so staff is requesting that this public hearing be held on Monday, October 11, 1999. In this manner, a newspaper article on the budget and the public hearing can appear in the Star News prior to this meeting. We will forego a formal public hearing notice and hope that the general newspaper article will make everyone aware of the public hearing. . 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420. Fax: (612) 441-7425