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CC Work Session 2. 2. <br /> Meeting Date: 09/08/2020 <br /> Information <br /> Title: <br /> Continued Discussion of 2021 Budget/Levy <br /> Purpose/Background: <br /> At the July 14, 2020 budget worksession the council was presented with the 2021 General Fund budget and its <br /> effect on the tax levy. This was the first look at the budget which included all department requests. At this <br /> worksession, it was requested to take a look at the COLA and to reduce the levy to a six percent increase over <br /> 2020. <br /> At the August 10,2020 budget worksession, the July 14 worksession requests were presented and a preliminary <br /> review of the 2021 personnel requests began. <br /> The direction at the worksession of August 25, 2020 was for staff to bring back a proposed 2021 tax levy increase <br /> of 5%. This represented a reduction of approximately$91,000 from what was presented at the August 10 <br /> worksession. <br /> Staff has reduced the levy in the amount of$91,613 of which all reductions from the first worksession of July 14, <br /> 2020 are documented in the attachment entitled Levy Changes since 7-14-20. <br /> The following items are attached for your review. <br /> 1. 2021 Preliminary Budget Levy Notes <br /> 2. Changes since the 7-14-20 Budget Worksession: General Fund Levy/Budget, EDA Levy&Debt Levy <br /> 3. Tax Capacity Calculations -Estimated Tax Capacity Rates <br /> 4. 2021 Personnel Request. <br /> 5. 2021 Capital Equipment Requests <br /> 6. 2021 Requested General Fund Budget <br /> 7. 2021 Requested EDA Budget <br /> 8. Tax Effect on Home Values <br /> Timeframe: <br /> 30 minutes <br /> Funding Source: <br /> Responsible Party(ies): <br /> City Administrator&Finance Director <br /> Outcome: <br /> Review of preliminary budget and levies to determine a preliminary levy and budget for the meeting of September <br /> 22, 2020. <br /> Attachments <br /> 2021 Budget/Levy Notes <br />