City Council Meeting Date: October 17, 2023
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Discussion of 2024-2025 Budget and 2025+ Long Range Financial Planning Forecast.
Body
Action Requested:
Discussion only although staff would like to receive direction and feedback from Council to continue to finalize the 2024 levy.
Summary Report:
At the October 10, 2023 City Council Work Session, staff presented additional budget information including budget reductions impacting preliminary 2024 levy along with options impacting 2024 and future forecast. Due to the presentation not being provided in advance of the meeting, the Council will continue to discuss the information provided at the October 10th Work Session. The October 10th presentation (attachment #1), and the most recent CIP (attachment #2), CEP (attachment #3) are attached.
Alternative Options:
Not applicable
Financial Impacts:
Not applicable
Tentative Timelines:
ü October 10, 2023 - Initial Feedback on 2024 Budget and Levy to be presented for approval on December 5, 2023
• October 17, 2023 - Additional Feedback on 2024 Budget and Levy to be presented for approval on December 5, 2023
• Late October/Early November - Public Education and Information for 2024 Budget.
• November 14, 2023 - Final 2024-2025 Budget and Levy Adjustments.
• December 5, 2023 - Public Hearing on 2024 Budget and Levy and CIP
• December 5, 2023 - Consider Adopting 2024 Budget and Levy