City Council Meeting Date: September 18, 2018
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, 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 one of the attached Resolutions adopting a proposed 2019 General Fund Budget corresponding to levy increases ranging from 4.9% to 9.86% and setting the date and time for the Public Hearing.
Summary Report:
On August 6, the City Council had a budget work session and reviewed the preliminary budgets and preliminary levy increase. The discussion continued at the September 11th work session. Staff presented a preliminary property tax levy increase of 4.9% as the baseline and discussed projects department wide.
The attached budgets reflect the preliminary revenues and expenditures for the general fund, each corresponding with the property tax levies, ranging from a 4.9% to 9.86% levy increase. The resolution also establishes the time and date for our public hearing for December 4th at 6:00 pm. The hearing is required by State statute and the City has coordinated the hearings with Rice County.
Alternative Options:
* Consider alternative resolution (Attachment 1) corresponding to a 4.9% preliminary property tax levy increase.
* Consider alternative resolution (Attachment 2) corresponding to a 6.0% preliminary property tax levy increase.
* Consider alternative resolution (Attachment 3) corresponding to a 7.0% preliminary property tax levy increase.
* Consider alternative resolution (Attachment 4) corresponding to an 8.85% preliminary property tax levy increase.
* Consider alternative resolution (Attachment 5) corresponding to a 9.86% 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 ...
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