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*11 <br />REQUEST FOR COLHS'CIL ACTION ^I^CILUmiG <br />DATE: AueusU^. ?9^ <br />fORQNQ <br />iimst litrry <br />ITEM NO: <br />Department Approval:Administrator Reviewed:Agenda Section: <br />Name Ron Moorse i ' <br />City Administrators <br />Title City Administrator <br />///'; <br />Report <br />Item Description: <br />Adoption of 1995 Budget and Tax Levy <br />Background <br />State law requires cities to adopt a preliminary budget and tax levy by September 15 of each <br />year. The levy approved as of this date will be reflected in the Truth In Taxation information <br />provided to all property owners. However, this levy can be reduced prior to final budget <br />adoption after the Truth In Taxation hearings in December. The budget itself can also be <br />changed during this same time period. <br />Budget Overview <br />The proposed 1995 Budget holds the line on funding for current services while positioning the <br />city to address a number of long term issues with substantial fiscal impacts. The proposed tax <br />levy to fund the budget is $2,016,170. This is an increase of $39,534 or 2.0% over the 1994 <br />levy. <br />The General Fund budget which has the most significant impact on the tax levy is proposed at <br />$3,276,890. This is an increase of $124,222 or 3.9% over 1994. The most significant change <br />in the General Fund budget is the addition of a sixteenth patrol officer in the Police Department. <br />i <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt a resolution approving the 1995 collectible tax levy at $2,016,170 and to <br />establish the proposed 1995 General Fund Expenditure Budget at $3,276,890.