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2. 3. <br />CC Work Session <br />Meeting Date: <br />Primary Strategic Plan Initiative: <br />08/08/2023 <br />Identify and implement operational efficiencies, cost savings and additional <br />funding sources. <br />Information <br />Title: <br />Continued Discussion on 2024 Budget/Levies <br />Purpose/Background: <br />Continuation of the discussion pertaining to the 2024 General Fund Budget and tax levies of General, EDA, <br />Pavement Management and Debt. <br />Several of the attachments reflect a tax levy of a 9% increase - would need to reduce status quo (2023 budget + <br />city council authorizations in 2023 ) budget by approximately $247,000, 10.35% status quo budget & 12.67% <br />which adds back personnel requests and funds capital requests through the issuance of capital equipment <br />certificates. <br />The preliminary levy is proposed to be adopted on September 26, 2023. <br />Timeframe: <br />60 minutes <br />Funding Source: <br />Responsible Party(ies): <br />Finance Director and City Administrator <br />Outcome: <br />Continued discussion of the 2024 budget and levies. <br />Attachments <br />Calculation of General Fund Levy with Priorities <br />Non Discretionary budget items <br />Possible changes from status quo to 12.67% <br />Examples of % increase in Levy & effect on tax rate <br />Tax Capacity Rate Calculation - Estimated <br />Residential tax impact - 9%, 10.35% & 12.67% <br />Commercial tax impact - 9%, 10.35% & 12.67% <br />2024 Personnel Requests <br />2024 Capital Requests <br />2024-2026 Capital requests (equipment certificate option) <br />