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� <br />� <br />City of <br />Pequot <br />Lakes . <br />Date: <br />AGENDA ITEM #5.3 <br />REPORT TO <br />CITY COUNCIL <br />November 13, 2012 <br />Subiect: Preliminary Budget/Levy Review <br />Report: Since the time the Council set the preliminary <br />budget, Department Heads have met with the Mayor and <br />Council Member Pederson in an attempt to reduce the <br />proposed preliminary levy of a 6.86% increase from the <br />2012 levy. <br />The attached form entitled "2013 Proposed Budget <br />Changes to Tax Levy Funds" lists the changes that are <br />being proposed to the budgets. These changes present a <br />$109,362 reduction in the general revenue tax levy funds <br />which results in a proposed levy of $1,454,000. This is a <br />decrease from the 2012 levy of a-0.62%. <br />Council Action Requested: There is no formal action <br />requested of the Council. <br />Staff would like the Council to provide direction regarding <br />`- whether the attached budgets are what the Council would <br />like presented at the Final Tax Levy Hearing in December. <br />