City of Harvard Finance Committee met Oct. 4.
Here is the minutes provided by the committee:
The Finance Committee meeting was called to order 6:00 p.m. Committee members present: Chairman Opper, Aldermen Williams and Burlingame. Also present were Mayor Kelly, Alderman Meza, City Administrator Nelson, and Matt Beran from Lauterbach & Amen.
Public Comment
None
Audit Review
Matt Beran went through the audit and management letter for the fiscal year ending 04-30-2018.
There was discussion and several questions concerning the audit.
Property Tax Levy
Administrator Nelson reviewed options with the committee on the property tax levy. The first option was just taking advantage of the increase in the referendum approved increase of 14%. The second option was a balloon option of a 50% increase in order to capture all new growth. He noted that the levy will be capped at 14% not including any new growth. Both options will require a public hearing through Truth in Taxation. Motion by Alderman Burlingame seconded by Alderman Williams to conduct a public hearing at the 10-23-18 City Council meeting and to include the balloon levy option. All ayes motion passed.
Motion by Alderman Williams to adjourn the meeting seconded by Alderman Burlingame. All ayes
Meeting adjourned at 7:00 p.m
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