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CC Work Session 2. 1. <br />Meeting Date: 11/26/2013 <br />Title: <br />Review of 2014 General Fund Budget and tax levy <br />Purpose /Background: <br />Purpose: To come to a final determination of the 2014 General Fund Budget and Levy prior to final adoption on <br />December 10, 2013. <br />The Finance Committee reviewed the 2014 General Fund Budget at its meeting of November 12, 2013. They made <br />the recommendation that staff bring three budget options to the next budget worksession based on various tax <br />capacity rate options. Those options are as follows: <br />Option A: Hold City Tax Rate Constant with 2013 Adopted rate of 44.288% ($159,000 levy decrease from prelim <br />levy adopted) <br />Option B: Hold City Tax Rate to Preliminary Staff Rate Estimate of 43.37% ($341,000 levy decrease from prelim <br />levy adopted) <br />Option C: Hold City Tax Rate to Preliminary Rate From County of 45.095% ($0 levy decrease from prelim levy <br />adopted) <br />Timeframe: <br />45 -60 minutes <br />Funding Source: <br />Responsible Party(ies): <br />City Administrator & Finance Director <br />Information <br />Outcome: <br />Determination of final 2014 General Fund Budget and 2014 Payable. <br />2014 Preliminary General Fund Budget <br />Levy Options <br />Total tax rates all options <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 11/21/2013 02:57 PM <br />Form Started By: Diana Lund Started On: 11/14/2013 11:20 AM <br />Final Approval Date: 11/21/2013 <br />