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AGENDA ITEM #10.2 <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: November 6, 2007 <br /> Subject: General Fund Budget (Reduce Levy — Council <br /> Contingency) <br /> Report: At the October 2nd Council meeting, the Council <br /> moved to leave the preliminary general fund budget at <br /> `., $1,482,830 which represented a 8.28% increase from the <br /> 2007 levy. <br /> I am aware of the fact that although the proposed budget <br /> represents a decrease in the city tax rate from 2007, <br /> Council members are concerned about keeping the budgets <br /> as low as possible. <br /> After further review of the budget, it has been determined <br /> that the 2007 Council contingency funds of $25,000 have <br /> not been spent so far this year. Granted, there may be some <br /> need to spend a portion of this yet, however, I don't believe <br /> that all of the funds will be spent. In the 2008 budget, there <br /> is a council contingency line item of $25,000. <br />