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<br />I <br />I <br />I- <br />I <br />I <br />I <br />I <br />I <br />I <br />I. <br />I <br />I <br />I <br />I <br />I <br />. <br />. <br />.. <br />. <br /> <br />Arden Hills Council <br /> <br />2 <br /> <br />March 17, 1994 <br /> <br />DISCUSSION OF PRELIMINARY <br />UNAUDITED 1993 OPERATING RESULTS <br /> <br />Treasurer Terry Post presented a preliminary synopsis of <br />1993 General Fund results. The revenues are expected to <br />fall $50,000 under budget due to property taxes ($125,000) <br />less than expected; fiscal disparities at ($25,000) less; <br />while MSA (Minnesota State Aids) for road maintenance by <br />$45,000; DOT (Department of Transportation) by $10,000; Fund <br />225 (Community Services) transfer ($12,000) all exceeded <br />budget. <br /> <br />Expenditures beyond budget expectations in Management <br />Consultants ($8,000); Unused sick and vacation ($36,000); <br />Oak Grove settlement ($27,000); Government Building <br />($13,000); Building ($18,000). Council agreed it was <br />appropriate to accrue the $14,000 ordinance codification in <br />1993. <br /> <br />Expenditures under budget - Planning ($7,000); Police <br />($31,000); Fire ($14,000); Park Maintenance ($18,000); <br />Streets ($3,000); OP Transfer to 224 - Community Services <br />($3,000) . <br /> <br />COMMERCIAL/INDUSTRIAL <br />VALUATION UPDATE <br /> <br />Terry Post also reviewed the Commercial/Industrial <br />valuations for Arden Hills. valuations have continued to <br />decrease (see attached listing) on some properties. <br />Pharmacia Deltec at 1265 Grey Fox Road reduced from <br />$8,715,400 to 1994 EMV $6,570,000 (24.6%). City share is <br />12.9%. This equates to a City income decrease of $18,325 <br />(1.1% of total 1994 net levy). December and January tax <br />settlements were reduced by $13,000 and $47,000 for tax <br />abatement and accrued interest. December's reduction was <br />based primarily on Northpark group from 1992 petition (1210 <br />County Road E; 1200 County Road E; 8 pine Tree Drive; and 6 <br />Pine Tree Drive) . <br /> <br />January's reduction is based primarily on MSI 1992 <br />petitions. The July 1994 reduction is based on January 1994 <br />four properties in MSI Corporate complex - $91,825.66. <br /> <br />From the County Property Revenue Department, 30% of <br />petitions on average are resolved in one year, 70% in two <br />years and the balance in three or more years; these <br />reductions are considered to be a structural change and <br />apart from delinquency, ie: a "shrinkage" statistic; 1994 <br />