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FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKACOUNTY <br />STATE OF MINNESOTA <br /> <br />The Finance Committee conducted a regular meeting on Tuesday, December 13, 2005, at the <br />Ramsey Fire Station Number 1, 15050 Nowthen Boulevard, NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Chairperson Sarah Strommen <br />Councilmember David Elvig <br />Mayor Gamec (alternate) <br /> <br />Members Absent: <br /> <br />Councilmember Mary Jo Olson <br /> <br />Also Present: <br /> <br />Finance Officer Diana Lund <br />City Administrator James E. Norman <br />Paul Donna, Northland Securities <br /> <br />CALL TO ORDER <br /> <br />Chairperson Strommen called the regular meeting of the Finance Committee to order at 5:33 <br />p.m. <br /> <br />CITIZEN INPUT <br /> <br />There was none. <br /> <br />APPROVEAGENDA <br /> <br />Motion by Councilmember Elvig, seconded by Mayor Gamec, to approve the agenda as <br />submitted. <br /> <br />Motion carried. Voting Yes: Chairperson Strommen, Councilmember Elvig and Mayor Gamec. <br />Voting No: None. Absent: Councilmember Olson. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #1: Review and Adopt 2006 Tax Levy and General Fund Budget <br /> <br />Finance Officer Lund reviewed that the 2006 Proposed General Fund Budget, as it has been <br />presented and reviewed in the past several months, is based on the collection of tax dollars and <br />results in an estimated 39.20 tax capacity rate. This budget was balanced through staff <br />recommended adjustments and resulted in a total contingency in the amount of $237,287. The <br />overall certified levies for assessed 2005, payable 2006, totals $7,145,414. Ms. Lund indicated <br />the Troth in Taxation hearing was held on Monday, December 5, 2005. Approximately 20 <br />residents spoke at the hearing; the majority regarding the market value increase of their property. <br /> <br />Finance Committee / December 13, 2005 <br /> Page 1 of 6 <br /> <br /> <br />