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Finance Committee <br />Meeting Date: 07/16/2013 <br />By: Diana Lund, Finance <br />4. 3. <br />Information <br />Title: <br />2014 Preliminary Budgets Update <br />Background: <br />The City's adopted 2014 budget calendar calls for the 2014 Preliminary Budgets to be presented to the Finance <br />Committee on July 23, 2013, with full council worksessions after this date up up to preliminary levy adoption on <br />September 10, 2013. <br />The city annually adopts a preliminary levy for the General Fund, Economic & Development Authority (EDA) <br />Fund and the Housing and Redevelopment Authority (HRA) fund. <br />For 2014, the city is under levy limits and the tax rates presented reflect as such. The proposed budgets, as <br />presented, reflect a snapshot of where the budgets are today. Staff is currently working on the proposed budgets to <br />be in compliance of the levy limit and focusing on the strategic planning goals. <br />For 2014, due to levy limits, the city has the additional levy capacity of $156,493 over and above the adopted 2013 <br />budgets. This is net of debt levies and the HRA levy. The levy limit for 2014 is $7,482,518. <br />A July 23, 2013 worksession is planned with the full city council for review of all preliminary budgets. <br />Notification: <br />A brief summary of notable items in the prelimary budgets, 2014 Preliminary General Fund Budget, 2014 <br />Preliminary EDA Budget, Preliminary 2014 HRA budget and strategic goals are attached. <br />Funding Source: <br />N/A <br />Council Action: <br />Review of General Fund budget, EDA budget and HRA Budget. <br />Attachments <br />2014 Preliminary Budget Notes <br />2014 Preliminary General Fund Budget <br />2014 Preliminary EDA Budget <br />2014 Preliminary HRA Budget <br />Strategic Goals <br />Form Review <br />Inbox Reviewed By Date <br />KurtUlrich KurtUlrich 07/11/2013 03:35 PM <br />Form Started By: Diana Lund Started On: 07/08/2013 02:25 PM <br />