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<br />ARDEN HILLS CITY COUNCIL - September 8, 2008 <br /> <br />5 <br /> <br />A. Adopt Resolution 2008-044.. Settin2: the Preliminary Levv Taxes <br />Payable in 2009. <br /> <br />Adopt Resolution 2008-045.. Adoptin2: Truth-In-Taxation Public <br />Hearin2: dates for Proposed Taxes Payable in 2009. <br /> <br />Finance Director Susan Iverson stated that by September 15, 2008, the City is <br />required to adopt and certify to Ramsey County a preliminary levy and Truth-In- <br />Taxation hearing dates. She also stated that based on Council direction at the <br />August 18, 2008 Work Session, Staff had prepared a preliminary levy of <br />$3,003,434. The proposed 2009 budget reflects the 3.9% state mandated levy limit <br />plus allowable special levies. The impact on the average medium home valued at <br />$280,950 is an increase of $4.89 or 0.9%. She stated that this also includes <br />$110,000 in contingency funds to allow the City Council an opportunity to take a <br />closer look at the budget and capital plan. The final levy cannot be increased <br />however, it can be decreased. <br /> <br />Mayor Harpstead clarified that the increase of $4.89 to the homeowner was a <br />yearly amount. <br /> <br />Finance Director Iverson stated that this was correct. <br /> <br />Councilmember Grant stated that the local increase was an increase of 7.2%. <br /> <br />Finance Director Iverson clarified that the overall increase in the proposed levy is <br />a 7.4% increase over the 2008 levy; however, the City's portion of the levy is <br />$2,747,913 after Fiscal Disparities which equates to a 7.2% increase over the 2008 <br />City portion of the levy of$2,563,635. <br /> <br />Councilmember Grant stated that the difference or increase was about $184,000. <br />He also clarified that there was a contingency of $110,000 built into the budget. <br /> <br />Finance Director Iverson clarified that of the $184,000 increase, $110,000 of this <br />was contingency. <br /> <br />Councilmember Grant stated that he had concerns about the contingency amount <br />and asked what types of things would be included in the contingency. <br /> <br />Finance Director Iverson stated that the Council still needed to go through the <br />capital improvement planning (Pavement Management Plan, parks infrastructure, <br />and capital equipment). She also stated that if the Council wanted to set up any <br />