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AGENDA ITEM #3 <br /> City Of <br /> q <br /> Pe not <br /> Lakes <br /> REPORT TO <br /> CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: August 15, 2017 <br /> Subiect: 2018 Preliminary Budget Review <br /> Report: The proposed 2018 Preliminary Budgets are <br /> attached. The Tax Levy Fund Budgets project a <br /> preliminary tax levy of$1,688,705. This represents a <br /> $91,475 levy increase or 5.73% from 2017 and an <br /> estimated tax rate increase of 1.592%. At the April 4, 2017 <br /> City Council Meeting, the consensus of the Council <br /> directed Staff to compile 2018 budgets using a 1% tax rate <br /> increase and no increase in operating costs, which does not <br /> include capital outlay expenditures and wages and benefits. <br /> To give you perspective, past levy increases are listed <br /> below. <br /> • 2012-2013 = ($5,094) levy decrease <br /> • 2013-2014 = $1,941 levy increase <br /> • 2014-2015 = $25,720 levy increase <br />