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AGENDA ITEM <br />is updated on a yearly basis. An updated copy of the CIP for 2020 is included with this memo and will be <br />approved tonight. The CIP is a planning document only and approval of the CIP does not constitute <br />approval of any expenditures. <br />There are two main focusses of the CIP. First is the CIP items that have been identified as needs by staff. <br />The Second is available funding for the CIP. Many funding sources are not adequate to fund the CIP <br />items so funding will need to be secured prior to moving forward with the projects. <br />The funding for the Street CIP includes an additional $300,000 in tax levy starting in 2023. In that year, <br />the levy needed for debt service will decrease by $300,000 and by transferring the levy to the CIP, there <br />will be adequate funding for roads. This increased levy for the CII' will require Council approval at that <br />time. <br />3. Staff Recommendation. Staff recommends approval of the attached budget resolutions setting the <br />2020 Property Tax Levy, the 2020 General Fund Budget, the 2020 Special Revenue Fund Budgets, and <br />the 2020 Enterprise Fund Budgets. <br />COUNCIL ACTION REQUESTED <br />Motions to approve the 2020 Property Tax Levy, the 2020 General Fund Budget, the 2020 Special <br />Revenue Fund Budgets, and the 2020 Enterprise Fund Budget. <br />Exhibits <br />A. Resolution Adopting the 2020 Property Tax Levy <br />B. Resolution Adopting the Final 2020 General Fund Budget <br />C. Resolution Adopting the 2020 Special Revenue Fund Budgets <br />D. Resolution Adopting the 2020 Enterprise Fund Budgets <br />E. Draft 2020 Budget Book <br />Prepared By:.MRU Reviewed By: JJV Approved By: �bV <br />