warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/glencoenews.com/httpdocs/../ad_/ad_cache_.inc) is not within the allowed path(s): (/var/www/vhosts/glencoenews.com/httpdocs/:/tmp/) in /var/www/vhosts/glencoenews.com/httpdocs/sites/all/modules/ad/adserve.inc on line 160.

City of Glencoe not expecting to raise levy for 2017 budget

Right now, the city of Glencoe isn’t planning a levy increase for 2017, according to City Administrator Mark Larson.
The mayor and City Council met last Wednesday, July 27, as the city’s finance committee.
Larson did note, while presenting a preliminary 2017 budget, that he does not yet have figures for bond payments on city projects. Larson said the city is still waiting for information from the county and its bond counsel.
“But right now, we’re not anticipating any levy increase,” Larson said.
Larson said the city is anticipating a $67,000 increase in local government aid (LGA) from the state of Minnesota. The city also had the unusual news of hearing that its health insurance premiums will decline about 1 percent.
The Light and Power Association also is increasing its contribution in lieu of paying property taxes, and will pay $90,000 in 2017, as compared to the $87,500 that will be paid in 2016.
Another factor that needs to be considered is the city’s contribution to the fire relief association. Right now, the city owes no money to the fund, but Larson said the last actuarial of the association, which provides a retirement benefit to firefighters, was based on a roster of 32 members. The department now as 37 members, and that impact whether or not the department requests a contribution, Larson explained.
As of right now, though, the preliminary budget is showing the city finishing 2017 with a positive balance of $38,136.

For more, including planned capital expenditures, see the Aug. 3 print edition of The Chronicle.