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Respectfully submitted, <br />CITY OF RAMSEY <br />David R. Hartley <br />City Administrator <br />DRH:pjc <br />• Ramsey completed a detailed land use and transportation analysis <br />of the Highway #10 Corridor through Ramsey to identify the most <br />appropriate land uses that will provide the needed diversity in <br />economic growth. <br />• Tax increment financing continues to be a viable means of <br />encouraging and directing Ramsey's economic growth. <br />The City of Ramsey, like many local units of government, is very dependent upon <br />the actions of State and Federal governments to finance its operating and capital <br />programs. In the State of Minnesota, local government aid is a method used to <br />redistribute income tax revenues to lessen the burden of property taxes. The <br />City of Ramsey's portion of that local government aid has, in years past, been <br />substantially less per capita than other local units of government. In 1988, that <br />disparity was lessened substantially due to legislative action. <br />The housing stock in Ramsey is also experiencing a change to the "up scale" type <br />of housing. These homes take advantage of many of the natural amenities found in <br />Ramsey such as trees, river frontage, and wetlands. The result of this housing <br />stock suggests a possible demographic change from a Tabor /trade oriented <br />community to a more professional /technical oriented population. <br />The purpose of this document is to disclose accurately the financial transactions and financial <br />position of the City of Ramsey for calendar year 1988. Therefore, the format and much of the <br />content of this report is prepared consistent with accounting practices supported by the <br />professionals in the field of governmental accounting. Individuals reading this document may <br />wish to receive additional information or assistance in understanding the full meaning of this <br />document. An open invitation exists for any person to contact either myself or Finance Officer <br />Sandra Ashley for assistance regarding this document. <br />I would like to express appreciation and commendation to Miss Ashley and the Finance <br />Department staff for their efforts in maintaining the City's accounts and in preparing the <br />Comprehensive Annual Financial Report. Similarly, the efforts of the City's department heads <br />and City staff are appreciated as they relate to the development of this report. <br />iv <br />