09-25-2017 Council Packet - Laserfiche WebLink

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AGENDA ITEM Item No.: 15 Date: September 25, 2017 Item Description: Adoption of 2018 Preliminary Budget and Levy Presenter: Ron Olson Agenda City Administrator's Finance Director Section: Report 1. Purpose. The purpose of this agenda item is adopt the 2018 Preliminary General Fund Budget and the Preliminary 2018 Tax levy. 2. Background. Staff has been working on the 2018 General Fund budget since early June. As part of the budget process, there have also been three Council work sessions where the City Council has had the opportunity to provide input and direction to staff. At the Council meeting dated September 11', 2017, the preliminary budget was presented to the public. The budget that is being presented for approval tonight includes an increase in expenditures of 2.5%. This increase is the result of a 4.1% increase in wages and benefits which includes: a COLA increase of 2.5%, step increases for eligible employees, and a.5 increase in FTE's. The increase in FTE's is due to the addition of a Parks/Golf Course Supervisor position. This position replaces the current Golf Course Supervisor which is a half-time position. The preliminary tax levy required to fund the 2018 budget is increasing by 4.5%. This increase is split between the General Fund and the Pavement Management Fund. The General Fund increase is needed to cover the increases in wages and benefits as discussed above. The Pavement Management Levy is needed to fund the City's Pavement Management Plan. COUNCIL ACTION REQUESTED A motion to adopt the attached resolution adopting the 2018 Preliminary General Fund Budget and the resolution adopting the 2018 Preliminary Tax Levy. Exhibits Exhibit A. 2018 Revenues Exhibit B. 2018 Expenditures Exhibit C. Tax Impact Exhibit D. Resolutions Prepared By: jw1a Reviewed By: 1b)X1 Approved By: �bV