Agenda - Council - 09/26/2017 - Laserfiche WebLink

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debt due to offsetting bond funds to help reduce levy for 2017 payable.. 3. Revenue Reduction - Interest & Other Financing Sources - $164,304 4. Contracted Services - $80,955 for Bi-Annual Survey and Professional services in Building and Engineering. As noted, the EDA levy is included in the overall levy amount of $11,374,395. 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 was determined by the majority of the council at the work session of September 12, 2017. After discussion, the city council elected to authorize a higher preliminary levy increase at this time with the understanding that all avenues for levy reductions will be perused during the months leading up to final levy adoption in December. The proposed levy must be certified to Anoka County by Friday, September 29, 2017. Therefore, the Council must make a decision at tonight's meeting as to the amount of this levy. Schedule Budget Public Hearing Date: The Truth -in -Taxation (TNT) 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 25 and December 29 and held after 6:00 P.M. Staff is recommending that the public meeting be held at its regularly scheduled meeting of December 12, 2017, with adoption of the 2018 General Fund Budget and levy to immediately follow. The public meeting date must be certified to Anoka County by Friday, September 29, 2017; therefore, the City Council must make a decision as to the date selected for the 2018 payable public meeting at tonight's meeting. Observations/Alternatives: As this is the adoption of a preliminary levy that can be amended (only lowered) no alternatives are being listed. Budget work sessions until final adoption in December will allow for alternations if needed Funding Source: No funding required. Recommendation: Based on the recommendation of the City Council at its work session of September 12, 2017, recommend authorization of preliminary levy in the amount of $11,374,395 with the possibility of reduction prior to City Council adoption of the final levy on December 12, 2017 and to schedule the city of Ramsey's budget/levy public meeting on Tuesday, December 12, 2017 at 7:00 P.M. Action: