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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />December 18, 1989 <br /> <br />Page 2 <br /> <br />Public Hearing, continued <br /> <br />A combination of four revenues: property taxes, state aid, service <br />fees, and internal dollars, are used to finance the 1990 budget. <br />The City's financial policy reserves property taxes and State aid <br />for programs which are of general benefit. Service fee revenues are <br />used for situations where there is a direct benefit to a particular <br />customer and a determi nati on of cost per customer. The fi na 1 <br />revenue type consists of interest earnings and transfers. <br /> <br />The 1990 budget requ i res a tax amount of $2,780,400. The 1989 <br />amount was $2,347,200 which represents 15% of total revenues. <br /> <br />The State Auditor's report was briefly discussed. The report shows <br />that the 1988 revenues per capita in New Brighton were $383.20, as <br />compared to a revenue average of $671.00 for the Metropolitan area. <br />The New Brighton 1988 expe~ditures were $272.11, as compared to the <br />Metro Area average of $453.07. <br /> <br />Benke noted that generally duri ng any gi ven year, unanti ci pated <br />costs and adjustments usually require the budget to be revised. <br /> <br />Williams reviewed several examples of proposed residential property <br />tax increases, and concluded that most residents' overall 1990 tax <br />increase will be around 3%. <br /> <br />Brandt confirmed that Municipal State Aid funds are located within <br />the "other" category. <br /> <br />Egan revi ewed the fund summary wh i ch is a requ i rement of pub 1 i c <br />account; ng standards. A fund is a groupi n9 of revenues and <br />expenditures which is determined by covenants on the revenues and <br />by guidelines imposed on expenditures. <br /> <br />Walter Martin, 2439--17th Avenue NW, asked what percentage of the <br />tax increase can be attributed to City taxes. Benke said the first <br />estimate for the City levy was 1%, but future work sessions may find <br />that this amount can be lowered. <br /> <br />Danny Dahms, 675--4th Avenue NW, said a recent newspaper article <br />noted the Ci ty made a fi na 1 payment for the Ci ty Hall remode 1 i n9 <br />project. Childs said the newspaper article referred to a final <br />deferred payment to the project's contractor. Childs noted the debt <br />payment for the remodeling is included in the 1990 budget. <br /> <br />Public Hearing <br /> <br />Review of the 1990 <br />Budget <br />Report 89-303 <br />