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City of <br /> AGENDA ITEM #10.1 <br /> Pequot i° <br /> Lal�es — <br /> REPORT TO <br /> CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: November 3, 2015 <br /> Subject: 2016 Preliminary Budget Review <br /> Report: At the October 6th Council meeting, the Council <br /> directed me to work with staff to compile a list of budget <br /> changes to reach a general revenue tax levy of less than <br /> 3%. The attached report titled "2016 Proposed Budget <br /> Changes to Tax Levy Funds" lists the changes that are <br /> being proposed to the 2016 budgets to accomplish this <br /> directive. This report of changes presents a $67,400 <br /> reduction in the levy which results in a preliminary general <br /> revenue tax levy of $1,535,825. This is an increase of <br /> 2.98% from the 2015 levy. Also, this equates to a General <br /> City tax rate decrease of 5.640% and a Rural Service tax <br /> rate increase of 4.591%. <br /> The second report titled "2016 Proposed Budget Changes <br /> to Other Funds" lists the changes that are being proposed <br />