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Budget Levy Memo - 12/7/2010 <br />Page 2 of 5 <br />staff with the intent of reducing the levy amount to no more than a 3% increase <br />prior to setting the final levy in December. <br />• 10 -5 -10 Council Meeting: Budget changes were reviewed by the Council. The <br />Council made extra suggestions for cuts and directed staff to include the extra <br />suggestions and to review the proposed budgets at the November meeting. <br />• 11 -9 -10 Council Meeting: Staff provided a complete list of the proposed budget <br />changes for Council review. The Council moved that budget changes presented <br />and the levy amount of $1,477,460 (2.13% increase from 2010) be presented at <br />the December council meeting. Nancy Malecha informed the Council that the <br />$25 per month cut for the council's salary will have to be added back to the <br />budget and the budget numbers will change. <br />------------------ - - - - -- <br />The chart below shows how the proposed levy (Tax Generated column) affects <br />the City's tax rate for 2011. The City has two taxing districts. Both tax districts will <br />see a tax rate increase. <br />2011 PROPERTY TAX LEVY - $1,479,000 <br />2010 PROPERTY TAX LEVY - $1,446,000 <br />(for comparison purposes) <br />TAX DISTRICT <br />NET TAX <br />CAPACITY <br />TAX RATE <br />TAX <br />GENERATED <br />TAX RATE <br />TAX DISTRICT <br />NET TAX <br />TAX RATE <br />TAX <br />PERCENTAGE <br />33.595% <br />CAPACITY <br />Total <br />GENERATED <br />INCREASE FROM <br />1,446,000 <br />2010 <br />General <br />1,277,633 <br />69.218% <br />884,347 <br />2.028% <br />Rural Service <br />1,718,211 <br />34.609% <br />594,653 <br />1.014% <br />Total <br />2,995,844 <br />1,479,000 <br />2010 PROPERTY TAX LEVY - $1,446,000 <br />(for comparison purposes) <br />TAX DISTRICT <br />NET TAX <br />CAPACITY <br />TAX RATE <br />TAX <br />GENERATED <br />General <br />1,297,762 <br />67.190% <br />871,965 <br />Rural Service <br />1,708,693 <br />33.595% <br />574,035 <br />Total <br />3,006,455 <br />1,446,000 <br />GENERAL FUND BUDGET EXPENDITURES (Comparison to 2010) <br />`- • Council - Decrease of $1,385 <br />