HomeMy WebLinkAbout1983-03-22 Public hearingCity of Iowa City
MEMORANDUM
DATE: March 21, 1983
TO: City .Council, City Manager, General Public
FROM: Rosemaryy Vitosh, Director of Finance
Marian K Karr, Acting City Clerk
RE: Agenda Item N3 for Special Meeting of March 22, 1983
CONSIDER RESOLUTION SETTING PUBLIC HEARING ON BUDGET ESTIMATE
FOR THE FISCAL YEAR JULY 1, 1983 THROUGH JUNE 30, 1984.
COMMENT: This second public hearing is being held at the
request of the State Comptroller's office, because the Public
Hearing Notice published for the first public hearing on the
Budget, held March 1, 1983, included the transit levy property
tax dollar amount as a receipt in the Transit Enterprise Fund
instead of in the General Fund. The State feels that the proper
method of budgeting for the Transit Levy is to receipt those
Property tax dollars into the General Fund and then to transfer
those monies from the General Fund to the Transit Enterprise
Fund. Eventhough the first public hearing notice correctly
gave the total levy amount per $1000 assessed valuation, the
State feels the public was not properly notified of the City's
intention to levy the Transit Levy since the tax dollar amount
was not included with the General Governmental property tax
amount. Therefore, the State has determined that the City
should republish the Public Hearing Notice,hold a second public
hearing and reapprove the FY84 Operating Budget, before it will
approve the City's Transit Levy. The public hearing is scheduled
for March 29, 1983, with final budget approval immediately
following the public hearing.