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City of <br />Pequot <br />Lakes - <br />AGENDA ITEM #5.2 <br />REPORT TO <br />CITY COUNCIL <br />Report Prepared by: Nancy Malecha <br />Date: <br />Subiect: <br />October l, 2013 <br />Preliminary Budget/Levy Review <br />Report: Since the time the Council set the preliminary <br />budget, Department Heads have met with the Mayor, City <br />Clerk, and Finance Administrator in an attempt to reduce the <br />2014 preliminary general revenue tax levy of an 8.91 % <br />increase from the 2013 levy. <br />The attached form entitled "2014 Proposed Budget Changes to <br />Tax Levy Funds" lists the changes that are being proposed to <br />the budgets. These changes present a$68,350 reduction in the <br />general revenue tax levy which results in a preliminary levy of <br />$1,519,518. This is an increase from the 2013 levy of 4.22%. <br />Council Action Requested: Staff would like to know whether <br />the attached budgets are what the Council would like presented <br />at the Final Tax Levy Hearing in December and if not, staff <br />would like the Council to provide direction on further changes. <br />