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GENERAL FUND BUDGET AND LEVYPROPOSED AMENDMENTS <br /> The Council set the preliminary levy and preliminary general fund budget at the August <br /> 8`h Council meeting. The preliminary General Fund budget was set at$1,654,990 and the <br /> preliminary levy was set at $1,384,700. <br /> The City does not receive the tax capacity numbers from the County until mid November. <br /> However,the County did give us some preliminary tax capacity figures. With our current <br /> budget and levy, these preliminary figures reflect a reduction in the City's tax rate. <br /> Staff is requesting Council to consider the following budget amendments. <br /> STA FF RECOMMENDA TIONS FOR THE GENERAL FUND BUDGETILEVY: <br /> 1. Reduction of$15,200—Park Budget(Use the fund balance that was generated <br /> from Sibley Township until it is depleted. When it is depleted, include the park <br /> budget in the general fund budget). <br /> 2. Reduction of$10,000—Street Budget/Capital Outlay for trailer purchased in 2006 <br /> (if approved by Council) <br /> 3. Addition of$2,000—to insurance budget for Employee Assistance Program(If <br /> approved by Council) <br /> 4. Reduction of$1,500—Council contingency to round the budget <br /> • These amendments lower the levy to $1,360,000 <br /> • These amendments lower the general fund levy to $1,630,290 <br /> The Truth in Taxation Hearing is scheduled for December 14''. The proposed final levy, <br /> general fund budget, and enterprise fund budgets will be presented to the public at that <br /> time. <br /> C:\My Documents\City Clerk\Council Meetings\2006 CC Agenda Items\110806 Sp Mtg\Budget Levy.doc <br />