HomeMy WebLinkAbout08 25 2008_Budget Hearing for Fiscal Year 2009
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Anna Rosenberry, Finance Director
Chris Kukulski, City Manager
SUBJECT: Budget Hearing for FY2009
MEETING DATE: August 25, 2008
RECOMMENDATION: Open and Continue the Budget Hearing to September 2, 2008
BACKGROUND: The Budget Hearing was opened in July and continued to August 25,
2008. This was to accommodate for the statutory requirement that taxable values be certified to
Cities by the Department of Revenue (DOR) on the first Monday in August (August 4, 2008.)
The City has received two certifications; one dated August 5, 2008 that contained no values for
newly taxable property (new construction), un-reasonable valuations for our Tax Increment
Financing (TIF) districts, and said one mill was worth $9,520; a second was dated August 7,
2008 that included an extremely low valuation for newly taxable property (30% of our recent 5-
year average), un-reasonable valuations for our TIF districts, and said one mill was worth
$74,374.
On Tuesday, August 12, the Deputy Mayor and I met with Department of Revenue (DOR) and
Gallatin County officials to address these taxable valuation inconsistencies, which Gallatin
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County shares with the City of Bozeman. The meeting was successful in getting DOR to re-
examine their records for the City of Bozeman tax parcels and tax increment districts.
Department of Revenue has indicated that they will have corrected taxable valuations to the City
of Bozeman by Thursday, August 21st. If we receive accurate numbers, we will be able to hold
the City’s Budget Hearing on September 2, 2008. If inaccurate numbers are once again
presented, or the DOR cannot meet the August 21st
deadline, the City will likely need to continue
the Budget Hearing to September 8, 2008.
FISCAL EFFECTS: None at this time. Changes and adjustments to elements of the
budget may be proposed for adoption at later public hearing dates.
ALTERNATIVES: As suggested by the City Commission.
Respectfully submitted,
Anna Rosenberry, Finance Director Chris A. Kukulski, City Manager
Report compiled on August 19, 2008
Attachments: none
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