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<br /> - <br /> ,- -. -- <br /> Arden Hills council 2 March 17, 1994 . <br /> DISCUSSION OF PRELIMINARY <br /> UNAUDITED 1993 OPERATING RESULTS <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 /> 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 /> 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 /> COMMERCIAL/INDUSTRIAL . <br /> VALUATION UPDATE <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 /> January's reduction is based primarily on MSI 1992 <br /> petitions. The July 1994 reduction is based on January 1994 <br /> four properties inOMSI Corporate complex - $91,825.66. <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 /> -- <br /> --------- ..--- -- <br />