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M <br />City of <br />Pequott <br />Lakes:-:.E:�— <br />REPORT TO <br />ITEM #5.3 <br />CITY COUNCIL <br />Date: October 4, 2011 <br />Subject: Proposed Budget Changes to Tax Levy Funds <br />Report: The Budget Committee met as directed by <br />Council and is proposing changes to the tax levy funds in <br />an effort to reduce the preliminary tax levy. The proposed <br />changes reduce the preliminary levy from 5.98% increase <br />to a 2.57% increase. (See attached worksheet prepared by <br />Nancy Malecha). <br />If the Council decides to make additional changes to the tax <br />levy funds, staff would like to receive these changes prior <br />to the November Council meeting. Staff will present any <br />additional changes made by Council at the November <br />Council meeting. <br />Council Action Requested: Council motion accepting the <br />budget committee recommendations. <br />