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City of <br />Pequott <br />Lakes— <br />AGENDA ITEM #5.2 <br />REPORT TO <br />CITY COUNCIL <br />Date: October 5, 2010 <br />Subiect: Review Proposal for Budget Reductions <br />Report: At the September Council meeting, the Council <br />set the preliminary general fund levy at $1,619,000, with <br />the understanding that this number would be reduced prior <br />to setting the final general fund levy. The Council also <br />appointed a committee of the Mayor, Council Member <br />Malecha and two staff persons to review the budgets with <br />the directive to cut the general fund levy to 3%. <br />This committee has met and has made some very difficult <br />recommendations for budget cuts. The recommendations <br />for the cuts are attached to this memo. <br />The recommended cuts bring the tax levy to $1,475,730 <br />which is a 2.01 % increase from last year. <br />Council Action Requested: Council decision on the <br />recommended budget cuts and proposed tax levy. <br />