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2025 General Fund Budget: $20,373,610 ($20,799,768 -Year 2024) <br /> 2025 EDA Budget: $91,367 ($92,390-Year 2024) <br /> All EDA and General Fund documents are included together, as the EDA levy calculates into the total general <br /> levy calculation of the city. <br /> Notification: <br /> City Council agreed upon November 26, 2024, at 7:00 PM to hold a public meeting on the 2025 levy and budget. <br /> This date and time was printed on the proposed tax statements that were sent to each taxable property and public <br /> hearing notice was also posted in the Anoka County Union Hearald. <br /> Time Frame/Observations/Alternatives: <br /> Option#1 -Motion for City Council to Adopt Resolutions#24-3 3 5 Adopting the 2024 Payable 2025 Municipal <br /> Tax Levies(General,Pavement Management,EDA and Debt Service) in the amount of$21,950,694;Adopt <br /> Resolution#24-336 Adopting the 2025 General Fund Budget in the amount of$20,373,610; and Adopt <br /> Resolution#24-3 3 7 Adopting the 2025 EDA Budget in the amount of$91,367. <br /> Option#2 -Motion for City Council to Adopt Resolutions as stated above in Option 1,but with the following <br /> modifications: <br /> Option#3 -Motion for City Council to not adopt the attached resolutions. If a final levy is not adopted it reverts <br /> back to the final levy of 2024 in the amount of$20,279,701. <br /> Funding Source: <br /> The EDA levy supports the EDA budget,the General Levy supports the General Fund Budget and debt service <br /> levy supports the respective annual debt service payments and the Pavement Management Levy supports the <br /> City's pavement management program. <br /> Recommendation: <br /> Staff recommends Option#1 as outlined above. <br /> Outcome/Action: <br /> Motion to Adopt Resolution#24-3 3 5 Adopting the 2024,Payable 2025 Municipal Tax Levies (General, Pavement <br /> Management, EDA and debt service) in the amount of$21,950,694; <br /> and <br /> Motion to Adopt Resolution#24-336 Adopting the 2025 General Fund Budget in the amount of$20,373,610 <br /> and <br /> Motion to Adopt Resolution#24-337 Adopting the 2025 EDA Budget in the amount of$91,367. <br /> Attachments <br /> Reso#24-355 Adopting the 2024/Payable 2025 Municipal Tax Levy <br /> Reso#24-3 3 6 Adopting the 2025 General Fund Budget <br /> Reso#24-3 3 7 Adopting the 2025 EDA Budget <br /> 2025 EDA Budget <br /> 2025 General Fund Budget <br /> Form Review <br /> Inbox Reviewed By Date <br />