09-12-1994 Council Packet - Laserfiche WebLink

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; r.t*• * 1 • 4 \ REQUEST FOR COUNCIL ACTION i ^ \ ^ DATE: Sept^Bber ^i99l\ ITEM NO: Department Approval: N mm R ob Moorse TMe City Adminifintor Administrator Reviewed:Afenda Section: City Adaiaistraton Report ItOB Deacription: Adoption of Preliminary 1995 Budget and Tax Levy 4 . ^ ^ ^atsi 1. 2. Resolution Adopting the Tax Levy Required to Fund the 1995 Budget Proposed 1995 General Fund Budget Expenditures and Revenues PicKgwiri Sute law requires cities to adopt a preliminary budget and tax levy by September 15 of each year. The levy apfnoved as of this date will be reflected in the Truth In Taxation information provided to all property owners. However, this levy can be reduced prior to final budget adoption after the Truth In Taxation hearings in December. The budget itself can also be changed during this same time period. The proposed 1995 budget is very fiscally conservative. The proposed tax levy to fund the budget is $2,016,170. This is an increase of $39,534 or 2.0% over the 1994 levy. The expenditures in the general fund which generally have the most significant in^iact on the tax levy are proposed at $3,230,240. This is an increase of $77,572 or 2.5% over 1994. Holding the general fund expenditures to this level enables the tax levy required to fund the general fund budget to remain unchanged from 1994. The budget does require an increase in the recycling fee from $16.00 per year to $23.20 per year. This increase will generate an additional $20,500 per year as a partial offset to the $31,000 reduction in the County’s recycling grant. The most significant change in the general fund expenditures is the addition of a 16th patrol officer in the Police Department. COUNCIL ACTION REQUESTED: Motion to adopt a resolution approving the 1995 collectible tax levy at $2,016,170 and to establish tlw proposed 1995 General Fund expenditure Budget at $3,230,240.