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TO; <br />FROM: <br />DATE: <br />Mayor and City Council <br />Ron Moorse, City Administrator 7 <br />June 25,1999 <br />COUNCIL MEETING <br />JUN 2 6 1999 <br />Cn Y <br />SUBJECT; LMCD Year 2000 Budget and Levy <br />As part of her monthly LMCD report, Lili McMillan will review the LMCD's Year 2000 budget and <br />levy. The City of Orono's share of the levy for the Year 2000 is $32,998.54. This is a $6,537.14 or <br />24.7% increase over the 1999 levy. The main reason for this increase is that in 1999 the LMCD used <br />$15,000 of Administrative Fund reserves and $30,000 of Exotics Management Fund reserves to <br />reduce the levy. For the Year 2000, there are no reserves being used from the Administrative Fund <br />and $10,000 of reserves being used from the Exotics Management Fund.