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AGENDA ITEM #10.4 <br /> Cil�► O,f <br /> Pequot <br /> Lakes— - <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Angie Duus <br /> Date: November 5, 2019 <br /> Subiect: 2020 Preliminary Budget <br /> Report: Attached is the revised 2020 Preliminary Budget. The only change is <br /> an increase to State Aid-Police Revenue. Also attached is the Loader analysis <br /> which was previously provided to the City Council by the Public Works <br /> Department. <br /> We received the proposed tax rate information from Crow Wing County. Utilizing <br /> the attached 2020 Preliminary Budget, the City's tax rate will decrease from <br /> 57.385% in 2019 to approximately 56.023% in 2020 which is a decrease of <br /> 1.362%. Also, the City's net tax capacity increased from $2,961,059 in 2019 to <br /> approximately $3,232,114 in 2020 which is a $271,055 increase. <br /> Council Action Requested: Council directive on changes, if any, to the 2020 <br /> Preliminary Budget. <br />