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<br />I <br />I <br />I- MINUTES <br /> CITY OF ARDEN lULLS, MINNESOTA <br /> TRUTH IN TAXATION HEARING <br /> NOVEMBER 3D, 1994 <br />I 7:30 P.M. - TCAAP, BLDG. 105 <br />I CALL TO ORDERlROLL CALL <br /> Pursuant to due call and notice thereof, Mayor Dennis Probst called to order the Truth-In- <br />I Taxation hearing at 7:31PM. <br /> Present: Mayor Dennis Probst; Councilmembers Beverly Aplikowski, Dale Hicks, Sqsan Keirn <br />I and Paul Malone. <br /> Also present were: Acting City Administrator/City Accountant Terrance Post and Community <br />I Planning Coordinator Brian Fritsinger. <br /> ADOPT AGENDA <br />I MOTION: Aplikowski moved and Keirn seconded a motion to adopt the agenda for the <br />I. November 30,1994 Truth-In-Taxation hearing as presented. The motion carried lmAnimously <br /> (5-0). <br />I DISCUSSION ITEMS <br /> In light of the sma1l attendance, Mayor Probst encouraged those at the hearing to ask questions as <br />I they have them rather than waiting for the public comments portion of the meeting. Mr. Post <br /> presented and discussed a series of eight overhead slides that dealt with the requested levy, <br /> property taxes by local jurisdiction, real property valuation historical information, general fund <br />I revenues by source, general fund expenditures by category, a budget narrative detailing operating <br /> and capital items and a summary comparison of general fund expenditures, revenues and levy <br /> historical information. <br />I Mr. Tom Mulcahy, 3530 Siems Court, asked how Council had determined a need to create <br />I additional capital funds beyond those currently existing. Councilmember Malone responded that <br /> there are currently no special capital reserve funds for future fire equipment needs or future <br /> general capital equipment needs. <br />I Mr. Mulcahy further inquired as to the correctness of his understanding that the funding of the <br /> various capital funds would not be used for 1995 expenditures but rather the build-up of a reserve <br />I for future large capital expenditures. Mayor Probst responded that his understanding was correct <br /> subject to the possible utilization of a portion of the facility capital funds which is dependent <br />I- upon 1995 activity at TCAAP. <br />I <br />