Unallotment
The word has come down on unallotments. Rather than only cutting from cities that get Local Government Aid, the governor has decided to also take money from cities that get Market Value Homestead Credit to offset property taxes.
Information is available on the Department of Revenue web page, including a PDF with a list of Minnesota cities and how much of their funding is being taken away this month.
In Maplewood's case -- if I am reading the chart right... they are taking it all. The entire payment of $244,473 that was supposed to be paid by December 26th, 2008. This was part of the 2008 budget approved back in 2007 -- but now it will never be paid at all. It's not even two weeks until the end of the year, and we will have to account for the loss of almost a quarter million dollars of money from the current year's budget.
Information is available on the Department of Revenue web page, including a PDF with a list of Minnesota cities and how much of their funding is being taken away this month.
In Maplewood's case -- if I am reading the chart right... they are taking it all. The entire payment of $244,473 that was supposed to be paid by December 26th, 2008. This was part of the 2008 budget approved back in 2007 -- but now it will never be paid at all. It's not even two weeks until the end of the year, and we will have to account for the loss of almost a quarter million dollars of money from the current year's budget.
Labels: finance
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