City Council Meeting Date: September 20, 2016
To: Mayor and City Council
City Administrator
From: Melanie Lammers, Finance Director
Title
Consideration of a Preliminary General Fund Budget and Establishing a Date and Time for the Public Hearing.
Body
Action Requested:
Staff recommends approval of Resolution Adopting a Proposed 2017 General Fund Budget and Setting the Date and time for the Public Hearing.
Summary Report:
On August 23, the City Council had a budget work session and reviewed the preliminary budgets, CIP and where the City was at for a preliminary levy. The discussion continued at the September 13th work session. Staff presented a recommendation of a preliminary property tax levy increase of three percent, and discussed projects department wide.
The attached budget reflects the preliminary revenues and expenditures for funds, and corresponds with the recommended property tax levy with a three percent levy increase. The resolution also establishes the time and date for our public hearing for December 6th at 7:00 pm. The hearing is required by State statute and the City has coordinated the hearings with Rice County.
Alternative Options:
a. Consider alternative resolution (Attachment 2) corresponding to a two percent preliminary property tax levy increase.
b. Consider alternative resolution (Attachment 3) corresponding to a one percent preliminary property tax levy increase.
Financial Impacts:
The attached resolution provides the summary budget information for the recommended and alternate budgets.
Tentative Timelines:
The City must submit the resolution including the public meeting time to the County by September 30, 2016.