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City of <br /> AGENDA ITEM #5.1 <br /> Pe not 410 Lakes= <br /> REPORT TO <br /> C ITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: September 1, 2015 <br /> Subject: 2016 Preliminary Levy <br /> Report: Attached are the 2016 preliminary budgets and <br /> levies. The preliminary levies are as follows. <br /> • General Revenue Tax Levy - $1,649,245 ($1 57,800 increase) <br /> • Tax Abatement Levy - $17,527 ($5,121 decrease) <br /> • HRA Special Levy - $38,250 (no change) <br /> The attached list of Proposed Budget Changes shows the <br /> budgetary changes that were made after the August 18th <br /> Special City Council meeting. Currently, the 2016 General <br /> Fund budget reflects the City using $82,500 of fund balance <br /> for one-time expenditures. <br /> If the Council wishes to reduce the preliminary General <br /> Revenue Tax Levy, staff is requesting direction to accomplish <br /> this. The deadline for setting the preliminary levy is <br />