Laserfiche WebLink
11488.4 A <br />TO: Mayor and City Council <br />FROM: Mark Bernhardson, City Administratorjv <br />DATE: January 14, 1988 <br />SUBJECT: 1986 Financial Health Report <br />Attachment A. City of Orono Financial Healt’i Profile 1982-1986 <br />ISSUE — Acceptance of information from the State Auditor <br />re^a"rding the City's financial profile. <br />INTRODUCTION - For the last several years the State Auditor's <br />offrce'”jra~s*”been working to develop a format for information to <br />which they have, access regarding local communities over 2500. <br />This is based principally on the community's audit report in <br />order to inform local government officials and the community as <br />to how their community rates on a state wide basis. The value of <br />this report has been improving with each addition. The State's <br />lack of familiarity with each city however does require the local <br />community to closely examine the information as to its validity. <br />DISCUSSION - The following represent staff comments regarding the <br />various indicators. <br />9 <br />i " This figure is base.'* on the <br />Metropolitan Council estimate as of April 1, li. The <br />City's 12/31 estir“te for that year was 7,310. The <br />Metro Counci I's Apr 1 1, 1987 estimate was 7,212. The <br />difference is the result of the City's estimating single <br />family additions having a higher per house rate than the <br />2.3 estimated by the Metro Council. <br />^ downturn in market value for <br />1986 was the result principally of the revaluation of <br />lakeshore property. The downturn in assessed value was <br />in part due to that coupled with changes in <br />classifications. The assessed value for 1987 was $103.6 <br />million and for 1988 is estimated to be $107.5 million. <br />3. Building^ Permits - The estimated value of building <br />permits~F<Tr "l9^7 is expected to be $20.7 million. <br />4. Retail Sales Activity - This indicator is generated <br />from~gross sales tax receipts by the State. The staff <br />has no idea as to why their are great fluctuations <br />between 1982 and 1986 as the number of businesses listed <br />for the reports have not changed markedly since 1983. <br />It is also felt this is not significant when related to <br />the City's general financial health at this time.