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police officer which is a recommended permanent increase in operational costs within the <br />1994 budget and beyond. She noted that the 1994 Proposed General Fund Budget is <br />reliant on a number of factors that are being addressed in the establishment or revision of <br />various revenue and expenditure policies for a number of the City's funds. Ms. Hart <br />reminded Council of the concerns expressed about increasing property taxes for 1994 when <br />surrounding communities and Anoka County have publicized how they are not increasing <br />taxes. In response to this concern, Staff has proposed alternatives to the 1994 Proposed <br />General. Fund Budget which she presented. She stated the proposed reduction of $26,978 <br />in the tax levy would bring the amount of general property taxes levied to $953,685. This <br />would result in a tax capacity rate for 1994 of approximately 17.2617 percent compared to <br />the 17.750 percent which was originally proposed. She addressed some of the variables <br />that could have significant impacts on the 1994 and future years budgets also. Some of <br />those variables could be: Additional officers, additional public works workers, additional <br />squads, additional equipment for Fire Department, etc. <br /> <br />Couneilmembers Beyer and Zimmerman expressed concern with reducing the tax levy as <br />they felt it would be difficult to maintain the same level of service to such a growing <br />community. <br /> <br />Consensus of the Committee was to agree with Staffs recommendation with regard to the <br />levy limit and to authorize the search for the police officer to begin January 1, 1994. <br /> <br />Councilmember Hardin extended a thank you to Staff for all the work done on the budget. <br />COMMITTEE INPUT <br /> <br />1) Bond Rating <br /> <br />Finance Officer Hart announced that the City's bond rating was raised from A to Al. She <br />added that the representative from Moody's Investors Service expressed that he was very <br />impressed with the City of Ramsey's plan for the future as opposed to steady spending. <br /> <br />ADJOURNMENT <br /> <br />Motion by Councilmember Beyer and seconded by Councilmember Hardin to adjourn the <br />meeting. <br /> <br />Motion carried. Voting Yes: Mayor Gilbertson, Councilmembers Beyer, Hardin, Peterson <br />and Zimmerman. Voting No: None. <br /> <br />The regular meeting of the Finance Committee adjourned at 6:30 p.m. <br /> <br /> Respectfully submitted, <br /> <br />/"~ J~ Ti{ielin-g -' ~ ~ <br />(.~?Recording Secretary ~/ <br /> <br />Jessie Hart <br />Finance Officer <br /> <br />Finance Committee/October 12, 1993 <br /> Page 3 of 3 <br /> <br /> <br />