Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Taxes topic
No spam. Unsubscribe anytime.
Ryland Heights commission approves compensating tax rates, accepts July treasurer's report
Summary
The Ryland Heights City Commission unanimously approved compensating tax rates for 2024 (Real Property 0.115; Personal Property 0.113) and accepted the July treasurer's financial report, which included budget vs. actuals and a reminder about the multipurpose building contract deadline.
Mayor John Cole called the Ryland Heights City Commission to order on Aug. 13, 2024, and the commission unanimously accepted the treasurer's July financial report and approved tax-rate calculations used for property assessments. Treasurer Rod Rigacci presented bank statements, checking and savings balances and a budget-vs.-actual report and reported the Northern Kentucky Area Development District's compensating-rate calculations: Real Property 0.115 and Personal Property 0.113. Commissioners voted to accept the treasurer's report (motion by Commissioner Bowman, seconded by Commissioner Collins; Ayes 3, Nays 0).
The treasurer also reminded the commission that the planned multipurpose building must be “under contract with Contractors before December 31, 2024,” a procurement deadline noted during the presentation. No specific funding sources for the building or contractor names were recorded in the minutes.
Commissioner Collins moved to approve the compensating rates recommended by the regional district; Commissioner Bowman seconded and the motion passed unanimously (Ayes 3, Nays 0). These rates are administrative inputs used in setting local tax bills and do not themselves change tax levies; the minutes do not record any subsequent change to the commission's levy rates.
The commission took no further formal action on capital funding at the meeting. The meeting adjourned at 8:50 p.m.
