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Money and budgets brings us to the Finance Committee, Ward Hanson, Chairman; Members; Leland Starr, Kenneth Boss, LaVonne James, Louis Labeck, Rodney Schumacher and Gary Thorn; Council Liaison, William Feyereisen; Committee Advisors, Donald Lamb and Clerk/Administrator Charlotte McNiesh. The Com- mittee meets the 2nd Thursday of the month, 8:00 P.M. at the Village Hall. Chairman Hanson wishes residents would drop in at these meetings. Residents are not only welcome, their interest and input is solicited. Mrs. McNiesh says the Finance Committee and Council look long and critically at the proposed budgets submitted from departments and committees, examining details, evaluating priorities and looking for areas to economize. The Gen- eral Fund itemized on the previous page comprises less than 1/3 of total village expenditures. About 29/ of the General Fund is supported by proper- ty taxes; the remainder of income to cover these expenses comes from licens- es, permits, fines, investments and local government aids, etc. The 1976 property taxes of $229,426 will result in an estimated mill rate of 8.44 mills, down 6.6/ from last year. The tax rate reduction is possible because of an increased assessed valuation in Arden Hills of 13/.* Approximate distribution of your 1975.tax dollars is as follows: Schools County (excluding Library) Village Metro Transit Metro Council County Library Mosquito Control Rice Creek Watershed District 621 59.1/ 27.9 7.4 2.8 0.6 1.8 0.2 0.2 District 623 57.5% 29.0 7.7 2.9 0.7 1.9 0.2 0.2 *The assessed valuation of a community is established by the County. It is the assessed value which determines the mill rate for the Village. Thus with an estimated assessed value of Arden Hills of $27,185,165, each mill will produce $27,185; or to calculate it another way: Tax Levy x 1,000 = Mill Rate Assessed Value Final figures on assessed valuation are not available until the end of the year when adjustments are made by the County according to the Fiscal Dispar- ities Law, which allows redistribution of funds to municipalities based on population and assessed valuation. Growing communities with a high per cap- ita valuation "lose assessed valuation base". In 1975 Arden Hills lost about 67/ of what was contributed. If the same ratio applies for 1976, we will contribute $1,107,600 and get back about $336.000.