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REQUEST FOR ACTION <br />TQ ITEM NUMBER <br />Ma or and Ci Council 6.4 <br />AGENDA SECTION MEETING DATE PREPARED BY <br />Work Session une 11, 2012 Tim Simon, Finance Director <br />ITEM DESCRIPTION REVIEWED By <br />2013 Budget Discussion <br /> REVIEWED BY <br />ACTION REQUESTED <br />Discuss 2013 budget process and provide feedback. <br />BACKGROUND/DISCUSSION <br />The city staff has begun developing the Preliminary 2013 Budget. Budget meetings are currently being <br />held with departments or division managers and the preliminary requested budgets are being compiled. <br />At this work session we will begin discussing the 2013 tax levy and budget parameters. As you know, all <br />of this leads up to the Council adopting a maximum tax levy prior to September 15, 2012. The final <br />budget will not be adopted until December. The majority of the budgets will be discussed at meetings in <br />July and August. <br />Proposed Budget Timeline <br />• June 11 Council Work Session -General budget discussion 2013 budget and process. <br />• July & August Work Sessions -Presentation of proposed budget to Council with <br />department directors and division managers in attendance (may schedule Work Session <br />following Regular Meetings as needed). <br />• September 10 Regular Meeting -Approve maximum tax levy. <br />• October & November -Continue budget and tax levy discussion. <br />• October 8 Work Session - 2013-2017 Capital Improvement Plan, Enterprise Funds and <br />other non-tax levy budgets. <br />• November 12 Work Session - 2013-2017 CIP, Enterprise Funds and other non-tax levy <br />budgets. <br />• December 3 Regular Meeting -Present final proposed budget; take additional public input; <br />adopt final budget and tax levy. <br />Levy Limits <br />Levy limits were not in place for 2012 and it appears they will not be for the 2013 budget. As you axe <br />aware the city has been below those limits the past three years (2009-2011). <br />Tax I-evv <br />Over the next several months as we work towards balancing the budget the amount of tax levy revenue <br />will be a significant part of that process. At this point we should just have some general discussions <br />about the tax levy since other revenues and the expenditures will be presented at the next budget review <br />P6NE~E9 8C <br />C:\Users\jjohnson\AppData\I,oca1\Microsoft\Windows\Temporary Internet ~~~ <br />Files\Content.0udook\SFWAYSNS\Bud~et Staff Report 0G1112.docs <br />