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FINANCE COMMITTEE CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Finance Committee conducted a regular meeting on Tuesday, December 10, 2002, at the Ramsey Fire Station Number II, 15050 Armstrong Boulevard NW, Ramsey, Minnesota. Members Present: Mayor Thomas Gamec Councilmember Susan E. Anderson Councilmember Patti Kurak Councilmember Terry Hendriksen Councilmember Gerald Zimmerman Also Present: City Administrator James E. Norman Assistant City Administrator Heidi Nelson Finance Officer Diana Lund CALL TO ORDER Chairperson Hendriksen called the regular meeting of the Finance Committee to order at 6:35 p.m. CITIZEN INPUT There was none. COMMITTEE BUSINESS Case #1: Review and Adopt 2003 Tax Levy and General Fund Budget Finance Officer Lurid stated that the 2003 proposed General Fund Budget, as it has been presented and reviewed in the past several months, is based on the collection of tax dollars and results in an estimated 38.846 tax capacity rate. This budget was balanced through staff recommended adjustments and resulted in a total contingency in the amount of $136,352. The 2003 budget does not include any additional personnel. The budget as presented includes $619,944 of capital outlay items (purchase cost and one year depreciation) of which $179,250 will be funded by the Equipment Revolving Fund and $151,098 will be funded from a FEMA fire grant. The remaining $289,596 will be funded via Capital Equipment Certificates, which will be added to the property tax levy over the next five years. State Statutes require that the 2003 levy and general fund budgets must be adopted at a meeting before December 30, 2002. Therefore, the 2003 Proposed Levy and General Fund Budget were being presented. Finance Committee/December 10, 2002 Page 1 of 4