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TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br /> MEMORANDUM <br />Mayor and City Council <br /> <br />Jmnes Norman, Administrator <br />Diana Lund, Finance Officer <br /> <br />Decc~nbcr 5, 2005 <br /> <br />Proposed 2006 General Fund Budget <br /> <br />Attached is the 2006 Proposed General Fund Budget in Brief. <br /> <br />In preparing thc 2006 Proposed General Fund Budget, the following objectives were established: <br /> <br />Recognize the limitations placed on City activities resulting from limited revenue <br />growth; and <br /> <br />b. Maintain or increase the existing level of City services and programs; and <br /> <br />Position the City financially such that stable revenues are identified for current and <br />fitture capital programming and equipment replacement; and <br /> <br />d. Avoid deferring costs to future years. <br /> <br />It is staf?s opinion that the above objectives were considered and met in the preparation of this budget. <br /> <br />The 2006 Proposed General Fund Budget, as presented, totals $10,162,600 with a proposed tax levy of <br />$6,072,674 (includes lost MVHC of $173,930 which we need to levy, but don't collect). When <br />combined with the special levies for the fire station capital improvement bond, municipal center lease <br />revenue bond, EDA levy and capital equipment certificates, the general property taxes proposed for <br />collection in 2006 total $7,102,066 [this number does not include the Mississippi Sub Drainage District <br />I,evy which was a special levy levied against 17 parcels in the City and the HRA levy which is market <br />va l ue based] The tax capacity rate equates to approximately 38.9418. <br /> <br /> <br />