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City of <br />)req ot <br />Lakes— <br />AGENDA ITEMS #6.1 - 6.4. <br />REPORT TO <br />CITY COUNCIL <br />Date: December 7, 2010 <br />Sub'ect: <br />2011 BUDGET AND LEVY PUBLIC HEARING <br />THE CITY OF PEQUOT LAKES <br />7:00 p.m. <br />The purpose of the Public Hearing is to discuss and seek public comment on the City's <br />proposed budgets and proposed property tax levy for 2011. <br />6.1. Budget and Lew Presentations: <br />General Fund Tax Lew <br />The City Council set a preliminary tax levy of $1,619,000. Following several <br />meetings, the Council reduced the levy to $1,479,000. This is the number that is <br />being presented at the Public Hearing for the Final Tax Levy. <br />Background Information <br />• 8 -17 -10 Council Budget Work Session: Proposed preliminary levy at $1,619,000 <br />which is a 10.69% increase from 2010. The Council directed staff to make <br />budget cuts. The Mayor noted that she does not want to see a levy increase of <br />more than 3 %. Council Member Ryan stated that he would like a 0% levy <br />increase. <br />• 9 -7 -10 Council Meeting: Preliminary levy set at $1,619,000 which is a 10.69% <br />�, increase from 2010. The Council formed a committee to work on the budget with <br />