Agenda - Council - 11/26/2013 - Laserfiche WebLink

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CC Regular Session Meeting Date: 11/26/2013 By: Diana Lund, Finance Information 4. 16. Title Report From the Finance Committee of November 12, 2013 Ratify the recommendations of the Finance Committee with the following actions: 1. Recommend to forward to City Council worksession 2014 General Fund Budget Options to meet designated tax capacity rates and long-term budget options to lower the estimated tax capacity rates for 2015-2018. 2. Recommend to forward to City Council worksession the draft document of the 2014-2018 Capital Improvement Plan (CIP) for review. Purpose/Background: Purpose: To ratify the recommendations of the Finance Committee of November 12, 2013. The Finance Committee met on November 12, 2013 to consider the following two cases: Case 1 of 2: Discussion and Review of 2014 Proposed General Fund Budget and 5-Year Budget: 2014-2018 Case 2 of 2: Review of Draft 2014-2018 Capital Improvement Plan (CIP) Notification: The Finance Committee agenda is attached. Funding Source: Not Applicable. Recommendation: Case 1 of 2: The Finance Committee motioned to recommend for staff to bring to a future City Council worksession 2014 General Fund Budget Options that would meet the following estimated tax capacity rates: 2013 adopted, 2014 originally estimated at preliminary adoption and current rate as presented by Anoka County on November 4, 2013. The Finance Committee also motioned for staff to prepare other budget options to reduce the estimated tax capacity rates on the draft 5-Year budget of 2014-2018. Case 2 of 2: The Flnance Committee motioned to recommend that staff bring the draft 2014-2018 to a future City Council worksession for review. Action: Case 1 of 2: Motion to confirm the recommendation of the Finance Committee to bring to a future City Council worksession the 2014 General Fund Budget with options of meeting the three tax capacity rates of Final 2013 Adopted, Estimated 2014 and as presented by Anoka County in November 2013. Also, to bring to a future City Council worksession, budget options to reduce the estimated tax capacity rates for the budgets of 2015-2018. Case 2 of 2: Motion to accept the recommendation of the Finance Committee to bring the draft 2014-2018 CIP document to a future City Council Worksession for review.