05-24-1972 Board of Review - Laserfiche WebLink

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� � "�/jt � • � I - � I ! T0: Village Administrator FROI�I: Village '��as.0 SUBJECT: 1971 Tax Advances DATE: June 4, 1970 According to Stanly R. Cowle , Hennepin County Administrator in his letter of May 12, 1970, the tax advances f or 1971 will be delayed approximately 30 days. The schedule is as f ollows: Niarch 30, 19?1 (personal property tax advance of approximately �p2, �00) , June 20, 1971 and lv'ovember 20, 1971. It is m� opinion that if the �ounty wishes to revise the tax advance schedule they should �.11ow the Villages at least or�e r_��p�e year to prepare f or this change. As you know every March we have to make a temporary transfer of �20,000 to y�25, 000 from the Liquor Store to the General Fund to finance expenditures until we receive our May taz advance. If the county should follow through on the proposed schedule it would mean the Village of Orono would have to transfer at least �$45,000 from the Liquor Store , which is not feasible at this time. Our only other alternative would be to write warrants against our 1971 tax collections. Should the county delay the schedule until 1972 it is my recommendation we bud�et �20,000. 00 contingency fund this year� this would enable us to handle the 30 day delay in tax advances. I would suggest the County �dministrator receive a letter in regard to this matter as well as a copy of the letter be sent to County Commissioner E. C. Robb. REMA_:KS: The County �roposal will create a serious pro}�lem for Orono to finance village operations from 1971 on. I sug�est we w ite a letter or adopt a resolution requesting that the� ' dvances be continued on the present basis. If this is not continued, then the village will be forced to levy th $20,000 to use for permanant ca�ital funds to use ' until tax advances arrive each year or write tax warrents and b ow and nay`nterest to the bank every ye�,r. /�_�7T� �°� /�-�,,°i,j,�-�-o /i Ralph H. Martin 6/17/70 3 f