Board of Estimate and Taxation

Wednesday, Nov. 13, 2024
4:00 p.m. CST

Location unavailable

Received and discussed the 2024 Second Quarter Financial Status Report. Key financial highlights included:
- Continued financial recovery from the pandemic
- Reaffirmation of AAA bond rating
- Rebounding parking revenues
- Local taxes are projected to exceed the 2023 amount and budget for the third consecutive year
- ARPA spending is on track to be fully obligated by the end of 2024
- Book value of cash and investments at approximately $1.1 billion
Discussed various fund balances, including the General Fund, Special Revenue Funds, Internal Service Funds, and Enterprise Funds.
Concerns were raised about the negative net position of the Self-Insurance Fund.
Postponed approval of the Information Request Protocol to the December 11th meeting pending legal review.
President Brandt announced ongoing delays in filling the Executive Secretary position for the Board.

Reporting

Edited and summarized by the Minneapolis - MN Documenters Team

Note-taking by Yoga Prakasa

Sets the City’s maximum tax levies and authorizes the issuance and sale of municipal bonds.