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AGENDA ITEM #10.2 <br /> City of <br /> Pe not <br /> Lakes <br /> REPORT TO <br /> CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: November 12, 2014 <br /> Subiect: 2015 Preliminary Budget Review <br /> Report: The attached report entitled "2015 Proposed Budget <br /> Changes" lists the changes that are being proposed to the 2015 <br /> budgets. The first table represents a $114,480 decrease in the Tax <br /> Levy budgets which results in an overall preliminary levy of <br /> $1,514,093. This is an increase of 1.73% from the 2014 levy of <br /> $1,488,373. Also, this equates to a General City tax rate decrease <br /> of 8.321% and a Rural Service tax rate increase of 4.816%. <br /> The second table represents a $1,039,960 increase in the Special <br /> Revenue and Enterprise budgets mainly due to the addition of the <br /> bonding projects to the 2015 Capital Improvement budget. <br /> Council Action Requested: Staff would like to know whether the <br /> attached budgets are what the Council would like presented at the <br /> Final Tax Levy Hearing in December. If not, staff would like the <br /> Council to provide direction on further changes. <br />