Money comes and money goes.

But Mayor Tom Stiehm plans to stress the importance of money coming — in the form of Local Government Aid — during his State of the City address set for Monday at 4:30 p.m.

Stiehm said he wants to inform Austin residents of the need for LGA and how a state slash in funding could cause an increase in property taxes and decrease in public-funded programs.

“I’m going to talk a lot about the uncertainties of LGA, the highlights of 2010 and what we’re looking for in 2011,” he said. “People need to know what’s going on in the city.”

The mayor will touch on flood mitigation projects that are set to begin in 2011. Three phases of the North Main flood mitigation plan are scheduled for this year, and Stiehm said its important for people to know the project is in effect.

Stiehm will present his address before the City Council meeting, which is set for 5:30 p.m. in Council Chambers at City Hall.

Council members will vote to provide property owners with actual costs, as opposed to estimates, on street reconstruction projects. If the measure passes, property owners can receive credit for curb and gutter and life expectancy of the street; they will be assessed a minimum of 20 percent of the project costs and a maximum of 50 percent for reconstruction projects.

After the meeting, members will meet for a work session in which they will discuss temporarily sharing financial services with the City of Albert Lea. Director of Administrative Services Tom Dankert would split his time between the two cities until the end of summer.

This move could save Austin up to $5,000 per month. Members will not hold an official vote Monday, however.

City Engineer Jon Erichson will be recognized at a 5:00 reception prior to the council meeting for being named 2010 City Engineer of the Year. He was presented with the honor at the annual City Engineers Association of Minnesota conference Jan. 26.

Stiehm’s address, Erichson’s reception and the City Council meeting will all be held in Council Chambers.