Agenda - Council Work Session - 12/10/2013

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CC Work Session 2. 2. Meeting Date: 12/10/2013 Title: Continued Discussion of 2014 General Fund Budget and Levy Purpose /Background: Purpose: Final discussion of the 2014 General Fund Budget and Levy prior to the Truth and Taxation public meeting and scheduled adoption at tonight's City Council meeting. At the last budget worksession staff had been directed to reduce the levy/budget by $159,000 to obtain the same tax rate as adopted 2013. Staff has met this direction and would like to go over the $159,000 in reductions to reach a proposed 2014 tax rate of 44.284% (44.288% in 2013). Proposed reductions are attached. Staff also received a summary of neighboring cities in regard to their proposed 2014 tax rates. You will note that Ramsey falls right in the middle and is close to the average proposed tax rate. Obviously, a variety of factors will impact the City's tax rate; including such things as service demand, taxable market value, level of local government aid, and other supplemental income such as franchise fees. A copy of the summary is attached. Timeframe: 15 minutes Funding Source: Responsible Party(ies): City Administrator and Finance Director $159,000 Reductions Tax Rate Comparisons Information Outcome: Accept the Proposed 2014 General Fund Budget and Levy as presented for adoption at tonight's City Council meeting. Attachments Form Review Inbox Reviewed By Date Kurt Ulrich Kurt Ulrich 12/05/2013 03:27 PM Form Started By: Diana Lund Started On: 12/03/2013 09:38 AM Final Approval Date: 12/05/2013