Agenda - Council - 09/11/2012 - Laserfiche WebLink

Home

CC Regular Session 7. 4. Meeting Date: 09/11/2012 By: Diana Lund, Finance Information Title: Adopt Resolution Approving Proposed 2013 Payable Tax Levy Background: Proposed 2013 Payable Tax Levy: Proposed Tax Levies: General Fund Levy $ 7,248,829 $7,248,829 EDA Levy (Included in General Levy) 104,466 169,853 Recommendation of the EDA 9/6/12 Debt Service Levy — CIP Bond - (Fire Station #1) (Being Requested) 152,289 152,289 Debt Service Levy — CIP Bond (Municipal Center) (Being Requested) 492,629 492,629 TOTAL PROPOSED LEVY — 2013 $7,998,213 $8,063,600 The attached resolution, as it is presented, reflects a levy of $7,998,213 or $8,063,600 if the City Council is in agreement with the recommendation of the EDA. The proposed levy for 2013 reflects either a $415,585 (4.90% decrease) or $350,198 (or 4.16% decrease) from the adopted levy in 2012 of $8,413,798. While the proposed levy can always be reduced, it cannot be increased without "higher" level approval through an appeals process. The amount of the levy will be determined at the worksession prior to the formal adoption on September 11, 2012. The proposed levy must be certified to Anoka County by Monday, September 17, 2012. Therefore, the Council must make a decision at tonight's meeting as to the amount of this levy, or schedule a special meeting prior to the 17th.. Schedule Budget Public Hearing Date: The Truth -in- Taxation law was changed in 2009. The City is no longer required to hold a special TNT hearing or to publish a notice of the TNT hearing. In lieu of the eliminated formal TNT hearing, the City is required to hold a regularly scheduled meeting at which the budget and levy will be discussed. The City may adopt the budget and levy immediately following. The public meeting must be held between November 26 and December 28 and held after 6:00 P.M. Staff is recommending that the public meeting be held at its regularly scheduled meeting of December 11, 2012, with adoption of the 2013 General Fund Budget and levy to immediately follow. The public meeting date must be certified to Anoka County by Monday, September 17, 2012; therefore, the City Council must make a decision as to the date selected for the 2013 payable public meeting at tonight's meeting. Recommendation: