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Regular City Council Meeting <br />Monday, March 30, 2009 <br />Page 7 <br />Further discussion included operational savings realized beyond extra revenue; <br />budgetary controls at the fund level, but not line items and discretion specific to <br />City Council directives; use of reserves due to unforeseen circumstances that arise <br />periodically and short reaction times; assumptions used in creating a budget with <br />forecasting expenses and revenues 12 - 16 months in advance; and the fluidity of <br />the budget document based on City Council discretion to amend that budget, and <br />based on day-to-day operations and policies in place. <br />Additional discussion included investment income allocation between depart- <br />ments based on cash holdings on hand and wide fluctuations from fund to fund <br />and among 40 funds, and based on past practice and operations; lower than antici- <br />pated collection of property taxes, based on some reductions in long-term values, <br />but also based on successful petitioning of property owners to Ramsey County to <br />lower their values for a period of three years, but taken out of the current tax levy; <br />and anticipation that additional commercial property owners will petition for simi- <br />lar valuation reductions in 2009. <br />Further discussion was related to final budget set by the City Council in Decem- <br />ber used to calculate the tax burden; and seeing the budget as a process with <br />amendment possible by the Council at any time to its budget, with the Truth in <br />Taxation Hearing designed to provide taxpayers a general spending plan. <br />City Attorney Anderson clarified and separated the budget and levy, with the <br />Truth in Taxation Hearing focused on what taxes will be; with a maximum levy <br />established, no limitation on budget amendments, but no increases above that es- <br />tablished levy amount. <br />Mayor Klausing opined that, while the City Council had no legal limitations on <br />budget amendments, it would be a breach of faith to change the budget dramati- <br />cally. <br />Johnson moved, Klausing seconded, approval of year-end amendments to the <br />2008 Budget in the General Fund and the Recreation Fund, as detailed in the Re- <br />quest for Council Action dated March 30, 2009. <br />Roll Call <br />Ayes: Pust; Ihlan; Johnson; Roe; and Klausing. <br />Nays: None. <br />9. General Ordinances for Adoption <br />10. Presentations <br />11. Public Hearings <br />