Laserfiche WebLink
CC Regular Session 6. 1. <br />Meeting Date: 12/11/2012 <br />By: Diana Lund, Finance <br />Information <br />Title: <br />Public Hearing on 2013 Tax Levy and General Fund Budget & Adoption of Final levies and budget <br />Background: <br />A budget/levy slide presentation will be provided that will outline the City's proposed 2013 Levies and General <br />Fund Budget. <br />A brief recap of this presentation are as follows: <br />2013 Final Overall Levy: $7,998,213 ($8,413,798 - 2012) <br />Levy Components: General Fund Levy: $7,248,829 <br />Debt Service Levies: $ 644,918 <br />EDA Levy: $ 104,466 <br />2013 Final Tax Capacity Rate: 44.19% (44.17% - 2012) <br />2013 General Fund Budget: $10,293,837 ($9,648,075 - 2012) <br />The 2013 General Fund Budget includes $463,000 in capital equipment. At a worksession on November 27, <br />2012, council was in agreement that capital equipment certificates would be issued in 2013 to fund these items. <br />Notification: <br />The City is required to hold a meeting where the City's budget and levy will be discussed and public can give <br />input. At its regular meeting of September 11, 2012, city council agreed upon December 11, 2012 at 7:00 and this <br />date and time was printed on the proposed tax statements that were sent to each taxable property. <br />Recommendation: <br />Staff recommends Council approval of the City's payable 2013 final EDA tax levy in the amount of $104,466, the <br />City's overall 2013 final tax levy in the amount of $7,998,213 (EDA levy is included in this amount) and the 2013 <br />General Fund Budget in the amount of $10,293,837. <br />Funding Source: <br />None Required. <br />Council Action: <br />