City and Borough of Juneau

Finance Committee Meeting

Wednesday April 12, 2006

5:00 p.m.

Assembly Chambers


I. Call to Order

II. Roll Call

III. Approval of Minutes

April 5, 2006


IV. Increments

The Manager is recommending two increments for inclusion in the FY07 and FY08 budgets.

A. Comprehensive Plan Update: The Comprehensive Plan Update is a stated goal of the Assembly.  The first year of this increment is for $150,600, which provides funding for a part-time GIS technician, geotechnical assessment, wetland determination and a survey to measure community values for policy formation.  The second year of the increment provides $53,200 for the GIS technician and public information notices and mailings.

 B. Two additional Sworn Patrol Officers: The first year of increment authorizes JPD to begin the hiring of two new officers but provides no funding.  Due to the length of time needed to recruit, it was determined funding would not be necessary until FY08.  The second year of the increment provides funding at $185,000 for the two officers, which cover salaries, overtime, benefits and a uniform allowance.


Chief Browning will provide additional information in support of this increment to the Assembly Finance Committee.


V. Overview of Property Assessment Changes between calendar years 2005 and 2006 (FY07)

The Assessor has projected the FY07 (calendar 2006) taxable assessed values at $3.65 billion.  This represents a value increase of $407 million or 12.6% over the previous year.  This amount includes new construction.  The City Assessor attributes a significant part of the assessment growth to increases to last year’s historically low mortgage interest rates.  The low interest rates increased the demand for housing which in turn resulted in increases in home values and new construction.  In addition, the Assessor continued made commercial property assessment adjustments in some specific areas of the Borough, to bring the assessment into line with current market values.


Jim Canary, Assessor, will give a presentation on the 2006 property assessments.


VI. Information Item

Contained in the packet is the Assembly Finance Committee budget meeting schedule and Assembly action dates.


VII. Adjournment