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<br /> ~ <br /> CITY OF ARDEN HILLS <br /> . MEMORANDUM <br /> DATE: August 27, 1998 <br /> TO: Brian Fritsinger, City Administrator <br /> FROM: Terrance R. Post, City Accountant @) <br /> SUBJECT: Preliminary Payable 1999 Levy <br /> Background <br /> Staff has been developing, reviewing and summarizing the proposed 1999 budget throughout the <br /> summer. At the outset of this process, Council gave general direction to staff with regard to <br /> communicating project priorities from the spring retreat, headcount implications of such <br /> priorities, and capital plan items. <br /> At this stage in the budget process, it appears that the City will need the maximum levy allowed <br /> ($1,923,937) as communicated from the Minnesota State Department of Revenue Property Tax <br /> Division (see enclosed State letter dated August 10, 1998), <br /> As discussed with Council at the August 17, 1998, Worksession, the preliminary 1999 General <br /> . Fund budget needs to utilize 97.5% of the maximum levy (assuming a 2.5% delinquency rate) to <br /> achieve a balanced budget situation. <br /> Historical Levy Information <br /> The City has maintained a relatively consistent levy percentage increase in the last several years. <br /> The following table summarizes recent net levy actions. <br /> Increase <br /> Year Dollars Percent <br /> 1994 $150,179 9.94% <br /> 1995 82,120 4.94% <br /> 1996 51,170 2.94% <br /> 1997 35,000 1.95% <br /> 1998 35,000 1.91% <br /> 1999 (Proposed) 59,617 3.20% <br /> Recommcndation <br /> Staff recommends that Council consider adopting Resolution No. 98-53, "Resolution ClarifYing <br /> Proposed Sums of Money to be Levied for Levy Year 1998: Payable in 1999," at the August 31, <br /> 1998 Council meeting. <br /> . <br />