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City of <br />Yeq ot <br />Lakes— <br />L <br />L <br />AGENDA ITEMS #6.1- 6.4. <br />REPORT TO <br />CITY COUNCIL <br />Date: December 1, 2009 <br />Sub'ect: <br />2010 BUDGET AND LEVY PUBLIC HEARING <br />THE CITY OF PEQUOT LAKES <br />6:30 p.m. <br />The purpose of the Public Hearing is to discuss and seek public comment on the City's <br />proposed budgets and proposed property tax levy for 2010. <br />6.1. Budget and Levy Presentations: <br />General Fund Tax Lew <br />The City Council set a preliminary tax levy of $1,527,690. Following several <br />meetings, the Council reduced the levy to $1,446,000. This is the number that is <br />being presented at the Public Hearing for the Final Tax Levy. <br />Background Information <br />• 8 -11 -09 Council Budget Work Session: Proposed preliminary levy - $1,587,200 <br />(7.13% increase from 2009) (The Council directed staff to make certain budget <br />cuts to reduce the proposed levy). <br />• 9 -1 -09 Council Meeting: Preliminary Levy set - $1,527,690 - (3.51% increase <br />from 2009). <br />