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<br /> I <br /> I CITY OF ARDEN HILLS <br /> It MEMORANDUM <br /> DATE: August 20, 1997 <br /> I TO: Brian Fritsinger, City Administrator <br /> I FROM: Terrance Post, City Accountant@D <br /> SUBJECT: August 1997 Finance Department Report <br /> I <br /> I Department Activities <br /> . There continues to be an extraordinary number of "final utility billings" as residents <br /> appear to be taking advantage of the strong real estate market. This has created a <br /> I workload spike for part-time Utility Clerk, Celine Syfko. <br /> . Jane Lund will be providing administrative clerical support to the commercial water <br /> meter replacement project. <br /> I . The summary of the proposed 1998 budget presented to Council at the August 18, 1997 <br /> Worksession relates to a net levy increase of $35,000 (1.91 %) - within the levy increase <br /> limit 0[$40,528 (2.22%) <br /> Ie . Additional budget work to be done includes a detailed chart of accounts that reflects <br /> Economic Development Authority (EDA) activities. <br /> I September Priority Projects <br /> . Provide Council with adequate 1998 Budget supporting detail for them to approve a <br /> I Preliminary Levy, Preliminary Budget, and selection of Truth-In-Taxation hearing dates <br /> at the September 8, 1997 Council meeting. After these actions, certify results to the <br /> I County and Department of Revenue as required. <br /> . Work closely with Ehlers, Standard & Poors, and Arden Hills staff to support a planned <br /> September bond issuance. Attempt to obtain a higher comfort level for estimated <br /> I Highway 96 intersection improvement costs. <br /> . Analyze and document impacts of possible utility rate changes on customer base. <br /> I Finance Committee Update <br /> . The Committee plans to meet on August 21, 1997 and reach some consensus on <br /> I Assessment Policy changes in order to present to the Council at the September <br /> Worksession. <br /> I <br /> it <br /> I <br />