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CC Work Session 2.2. <br />Meeting Date: 08/27/2013 <br />By: Diana Lund, Finance <br />Title: <br />Discussion of Proposed 2014 Budgets and 2014 Levies. <br />Background: <br />This item is on the agenda to allow for continued discussion of 2014 budgets and levies before proposed budgets <br />and levies are presented for adoption at regular City Council and HRA meetings of September 10, 2013. The <br />proposed 2014 tax capacity rate is 43.37% in comparison to 44.29% in 2013. An $180,000 reduction in levy = 1% <br />decrease in tax capacity rate. The total Proposed General Fund budget is $9,894,184 compared to an adopted 2013 <br />General Fund Budget of $10,293,837 or a $399,653 reduction. <br />The budget as presented is now balanced with a proposed levy that would be the maximum per the levy limits <br />established for 2014. <br />Notification: <br />The following items are attached for review: <br />- 2014 Preliminary General Fund Budget <br />- 2014 Preliminary EDA Budget <br />- 2014 HRA Budget <br />Information <br />