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FINANCE COMMITTEE CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA The Ramsey Finance Committee conducted a regular meeting on Monday, September 12, 1994, at the Ramsey Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota. Members Present: Mayor James Gilbertson (arrived late) Councilmember Glen Hardin Councilmember Kenneth Peterson Councilmember Gerald Zimmerman Members Absent: Councilmember Sheila Beyer Also Present: City Administrator Ryan Schroeder Finance Officer Jessie Hart CALL TO ORDER Councilmember Peterson called the regular meeting of the Finance Committee to order at 6:05 p.m. CITIZEN INPUT none CONSENT AGENDA None APPROVE AGENDA Consensus of the Committee was to approve the agenda as presented. COMMITTEE BUSINESS Case #1: 1995 Budget Discussion and Resolution Approving Proposed Maximum 1995 Payable Tax Levy and Scheduling Budget Public Hearing Dates Finance Officer Hart stated that the Finance Committee should make a recommendation to Council with regard to the proposed levy. Ms. Hart stated that she was directed to provide additional information as to the impact of increasing the tax levy to a point higher than the proposed 4.5 percent dollar increase over the 1994 levy. A 4.5 percent increase over the 1994 levy amount results in an additional $43,012, an estimated tax capacity rate of 19.3898, and an increase of 3.78 percent in the City's share of taxes proposed for 1995 over those levied for 1994. The impact of the proposed increase in the City's share of taxes of 3.78 percent, based on a 4.5 percent dollar increase over the 1994 levy, is consistent with a cost of living increase. Ms. Hart suggested this is the minimum amount necessary to continue operations at an acceptable level. She reminded the Committee that once the levy is set by Council, it can be reduced; however, it cannot be increased. Therefore, it is Stafl% position that the maximum proposed levy be adopted at a level above Finance Committee/September 12, I994 Page 1 of 6