03/20/2001 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 3/20/2001 „~, communities. So you would have to consider what other communities are doing with that ;,~ credit. Also, you need to consider the stability of careers of our own residents in this economic climate. She really thought long and hard about this and felt it very important to budget no increase. Councilwoman Kesler thanked Mrs. Copfer for her response and noted that she had other questions regarding estate tax and property tax revenues due to the reappraisal. However, regarding the income tax, she noted that Bay Village had budget a 3.5% increase, Lakewood budgeted 2.4%, North Ridgeville budgeted 1%, North Royalton budgeted 2%, Westlake budgeted 3% and Olmsted Falls takes the average of the last three years. She understands Mrs. Copfer's conservative point of view and her reasoning. However, she thinks that it can be a problem to under estimate as well as to over estimate because Council is responsible for the "purse strings." If Council does not know what money is available, then their hands are tied as to providing services for the city, which is where that money is supposed to go. Her request of the Finance Director would be that. all three of those items be watched carefully and that Mrs. Copfer prepare a monthly report so that Council knows where each item stands. That way, if there is an increase, that money can be infused back into services to the city. Council needs to know how to appropriate, and they need to know what money is available to do so. Mrs. Copfer noted that the percentage for income tax can fluctuate monthly. For example, last year in March it was at 9% but it was down to 3.3% later in the year. Estate tax comes in at the end of April, and she did budget that on the conservative side. The Mayor and Law Director, who are lawyers who practice estate planning, thought it might be two-thirds of last year's, but she felt it important to go to only half because the whole premise of the estate tax is dependent on people dying. Regarding real estate taxes, the assessed valuation went up 11%. She does not determine that number, the county tells her what to certify. Last year, we only collected 99.3% of what was budgeted. She does not recommend watching every line item singly because there may be shortfalls in some and increases in othersr-it meshes. She would be happy to supply a report for Council. Mrs. Kesler responded that, when she said she wanted to watch the items singly, she wanted to see them singly so that she can put it together as a whole and make sure that there is not an extreme amount of money left over at the end of the year which did no good to the city all year. She respects Mrs. Copfer's position and is glad to have her cooperation with the report. With regard to the real estate tax amount, she is questioning that because for the past four years the amounts were $418,000, $634,000, $450,000 and $591,000. This year it is budgeted for $200,000. She will follow the monthly reports to make sure that there is not a large amount of money left at the end of the year that wasn't properly used. 6) Councilman McKay continued his report regarding the following items: • Resolution 2001-23, which authorizes the Director of Public Service to advertise for bids for the purchase of a biosolids transportation trailer to be used at the WWTP. The cost of the trailer is expected to be approximately $55,000. The estimated savings to the City of North Olmsted would be $100,000 per year. The committee recommended approval. • Resolution 2001-25, which authorizes the Duector of Public Service to advertise for bids for the repair of the roof area in the lobby of the Recreation complex at a cost ~"" estimated at $105,000. The committee recommended approval. 6