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CC Work Session 2.2. <br />Meeting Date: 09/28/2021 <br />Information <br />Title: <br />Final 2022 Budget/Levy Review Before Preliminary Adoption on 9-28-2021 <br />Purpose/Background: <br />At the last budget worksession of August 24, 2021, there were questions related to what the levy and tax effect <br />would be if the full $1.9M needed for road funding was added to the levy. <br />The two levy options pertaining to the road are as follows: <br />1. 15% of last year's General Fund levy or $1,673,227 <br />2. 17.03% of last year's General Fund levy or $1.9M <br />Staff would like to go over the tax effect of these two options. <br />The preliminary levy is on the agenda for adoption at the regular meeting of September 28, 2021. Preliminary levy <br />numbers need to be sent to Anoka County by September 30, 2021, or the 2022 preliminary levy will be set at 2021 <br />rates. For purposes of the presentation and adoption at the City Council meeting, staff will be presenting and <br />recommending option 1 above. <br />Timeframe: <br />20 minutes <br />Funding Source: <br />Responsible Party(ies): <br />Finance Director <br />Outcome: <br />Determination of final preliminary levy amount to be adopted at September 28, 2021 regular City Council meeting. <br />Tax Effect <br />tax capacity calculation <br />2022 General Fund Prelim Budget <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 09/22/2021 04:34 PM <br />Form Started By: Diana Lund Started On: 09/22/2021 09:43 AM <br />Final Approval Date: 09/22/2021 <br />