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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: November 5, 2013 <br />Subiect: Preliminary Budget/Levy Review <br />Report: Since the October City Council meeting, the Mayor <br />and the City Clerk have met in an attempt to reduce the 2014 <br />preliminary general revenue tax 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 an $18,100 reduction in <br />the general revenue tax levy which results in a preliminary <br />levy of $1,501,418. This is an increase from the 2013 levy of <br />2.98%. <br />This preliminary levy would decrease the general city tax rate <br />by 2.372% and it would increase the rural service tax rate by <br />10.832%. <br />Council Action Reauested: 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 />