12-14-2015 Councill Packet - Laserfiche WebLink

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REQUEST FOR COUNCIL ACTION DATE: December 14, 2015 ITEM NO: 4 ______________________________________________________________________________ Department Approval: Administrator Reviewed: Agenda Section: Name Ron Olson JML City Administrator’s Title Finance Director Report ______________________________________________________________________________ 2016 Budget Hearing ______________________________________________________________________________ Attachments: 1) Resolution Adopting the Final 2015 Tax levy collectible in 2016 2) Resolution Adopting the Final 2016 General Fund Budget 3) Resolution Adopting the 2016 Special Revenue Fund Budgets 4) Resolution Adopting the 2016 Enterprise Fund Budgets 5) General Budget and Tax Information 6) Updated CIP ______________________________________________________________________________ Prior to the adoption of the 2016 budget and tax levy, the City is required to hold a public hearing to allow public input on the budget and tax levy. By law, this hearing must occur between November 29th and December 20th. When the preliminary tax levy and budget was approved in September, the public hearing was set for December 14, 2015 at 6:30. This public hearing is the final step prior to adoption of the budget and tax levy. The budget process was begun by staff at the beginning of June. At a work session held on June 22nd the Council was provided background information on the budget and an overview of the budget challenges for 2016. Based on the Council’s input and goals, a draft budget was prepared and provided to the Council for their review at the July 20 work session. The draft budget was refined further and the updated draft was presented to the Council at the August 24 work session. Continuing the practice started with the 2015 budget, a public presentation of the preliminary budget was given at the first meeting of September. The purpose of this early presentation is to allow the public to see the preliminary budget prior to the meeting in which it is adopted. The preliminary budget and tax levy was adopted at the September 21 council meeting. In addition to the work on the actual budget, staff has been working on updating the Capital Improvement Plan (CIP). The CIP identifies the long-term infrastructure needs and is a valuable tool in the budgeting process. In conjunction with the budget process, staff has also reviewed the City’s fee schedule. Formal action on the tax levy, budget, fee schedule, and CIP will be taken this evening. Tax Levy The total tax levy required to fund the 2015 budget is $4,954,480. This is an increase of $182,480 or 3.8% over the 2015 levy. The entire increase to the levy is designated for funding the City’s Pavement Management Plan and will help to address the City’s aging road