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The Council spent considerable time in March and April discussing goals and objectives. In <br />addition to the Vista 2000 goals, the following additional objectives were discussed for <br />supplementing the City's directions for 2002: <br />Provide for a smooth transition for Management changes. <br />Continue to work toward intercity cooperation where to the advantage of Roseville citizens. <br />Focus on transportation improvements (I35 -I36, T.H. 280, N.E. Diagonal, County Road C). <br />Establish a 2010 Visioning process. <br />Work toward a positive Community decision on improved public service and Community <br />Center facilities. <br />II. BUDGET OVERVIEW <br />This overview is to provide a summary of the approved 2002 Budget, noting significant changes from <br />the 2001 Budget. The overview addresses four major areas: Tax Capacity, Levy and Tax Capacity <br />Rates, Revenues, and Expenditures. <br />Tax Capacity <br />The Net Tax Capacity (NTC) represents the taxable value within the city. The legislature made <br />very significant class rate changes as well as school funding changes which will impact the tax <br />levy calculation in 2002. In addition, a levy limit on cities has been instituted for the 2002 fiscal <br />year. <br />Below is a comparison of the City's tax capacity for estimated for 2001 as compared to the 2000 <br />actual. <br />Values <br />2001 <br />Actual <br />2002 <br />Estimated* <br />Gross Net Tax Capacity <br />$50,162,011 <br />$36,948,631 <br />Less: Fiscal Disparities <br />value <br />$8,470,931 <br />$5,724,012 <br />Tax Increment value <br />$8,049,57 <br />$5,50404 <br />Net Tax Capacity for Levy <br />$33,642,046 <br />$25,719,935 <br />*Even though property values are continuing to rise, the tax capacity is shown as decreasing because of the tax class rate changes made by the 2001 <br />legislature. <br />I -2 <br />