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REVIEW PROPOSED 1997 - 1998 GENERAL FUND BUDGETS <br />AND TAX LEVY IMPACTS <br /> By: Jessie Hart, Finance Officer <br /> <br />Background: <br /> <br />This case is being brought to the Finance Committee at this time so that emphasis can be placed <br />on "where is the City headed" as it pertains to taxes and taxing levels. Some discussion is <br />necessary at this time so that a level of taxes can be determined and certified to Anoka County at <br />the September 10, 1996 regular City Council meeting. <br /> <br />Staff and the Finance Committee met on two evenings to discuss the "raw" requests that were <br />made by the various departments. Based on these and other meetings, staff will provide the <br />Finance Committee detailed information on how the requests can be revised in a manner so that <br />there would be no tax increase knowing that if a tax increase is palatable, it is easier to put things <br />back then to find additional areas to cut. This information will be provided at the meeting. <br /> <br />Staff had a budget meeting on Thursday, August 22, 1996 to discuss various areas where <br />adjustments could be made to the original requests. We will be meeting again on Monday, <br />August 26, 1996 to develop a list for consideration and again on Tuesday morning to review the <br />accumulated information. This list may well include cuts, additions and possibly revenue <br />enhancements. <br /> <br />The dollar level that we are aiming for for a no tax increase still carries an unknown factor on the <br />tax increment captured value used in calculating the tax capacity rate. This no tax increase does <br />not include the issue of how the Haubrich Addition assessment should be handled and does <br />impact the numbers. It is anticipated that a "better" number for the tax increment captured value <br />will be available the morning of the meeting. If it is, the information will be adjusted <br />accordingly. <br /> <br />Committee Action: <br /> <br />Based on discussion. <br /> <br />Reviewed By: <br /> <br />City Administrator <br />Finance Officer <br /> <br />Copies also distributed to: <br /> <br />Administrative Services Manager <br />Police Chief <br />Fire Chief <br />City Engineer <br />Public Works Supervisor <br />Parks/Utilities Supervisor <br />Zoning Administrator <br />Economic Development Coordinator <br /> <br />FC: 08/27/96 <br /> <br /> <br />