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2. 1. <br />CC Work Session <br />Meeting Date: <br />Primary Strategic Plan Initiative: <br />07/11/2023 <br />Identify and implement operational efficiencies, cost savings and additional <br />funding sources. <br />Information <br />Title: <br />Preliminary 2024 General Fund Budget/Levy Review <br />Purpose/Background: <br />First review of the 2024 General Fund budget and overall levy increase. <br />The City Council has expressed a desire to target a maximum percentage levy increase, but to date consensus <br />direction has not been given to staff. Staff has opted to present the 2024 budget/levy differently this year. The <br />budget document attached reflects a status quo budget from 2023, additional authorized expenditures by City <br />Council, and capital requests that had other funding sources (all requests are subject to review and approval) - <br />mostly attributed to police and fire whose funding will be from 2023 legislative funds that are to be used for <br />public safety. These budget numbers alone reflect a 14.06% increase in the General Fund tax levy. Overall, the <br />total levy, including pavement management, EDA & debt levies would reflect a 10.35% levy increase. <br />Staff has presented several items related to capital, personnel, misc items such as pothole patching requests that <br />have not been included in the budget document at this time. It is the intention to have staff present to City <br />Council why their requests should be "added" into the budget and thus increase the tax levy. <br />A General Fund levy summary is attached which reflects what the impact would be on the tax levy starting with <br />the all -in requests, down to the current status quo budget noted above at the 14.06% increase. <br />Tax capacity values are not yet available from the County (have been given a July 14 date). Staff is not proposing <br />estimated tax rates at this time, as preliminary estimates on market value from the county showed extremely large <br />increases in tax value on commercial businesses and relatively flat for residential. Staff prefers to wait until <br />actual data is received from the county. <br />Additional items will be handed out at the meeting. For example, detailed personnel requests, capital requests <br />and a further detailed General Fund budget/levy notes. <br />Timeframe: <br />1 1/2 hours <br />Funding Source: <br />Responsible Party(ies): <br />Finance Director and City Administrator <br />Outcome: <br />Review of preliminary budget/levies and additional requests. <br />