4.6. & 4.7. SR 12-15-2003 - Laserfiche WebLink

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PIEMORANDUI ! Item 4.6. 4.7 TO: FROM: DATE: SUBJECT: Mayor and City Council Pat Klaers, City Administrator December 15, 2003 Consider Resolution Setting the Final Tax Levy for Taxes Payable 2004 and Consider Motion Adopting 2004 Budget At this December 15, 2003 meeting the City Council is requested to approve the proposed 2004 tax levy resolution, the proposed 2004 general fund budget, and the special revenue funds. The City Council reviewed the proposed 2004 budget at a number of City Council meetings in August and September. On September 8, 2003, the City Council approved a resolution that called for the 2004 proposed maximum levy of $6,564,803. This is a $584,642 or 8.9% increase over the adopted 2003 tax levy amount. On December 8, 2003, the City Council held its truth in taxation public hearing. This public hearing is required by state law to receive public input on the proposed city tax levy and budget. The county sent out notice of this public hearing to all property owners in the city. A notice was also published in the December 3, 2003 Elk River Star News. At this December 8, 2003 public hearing the proposed 2004 tax levy and the proposed 2004 budget were reviewed and discussed. At this public hearing one property owner addressed the City Council with a question about use of the fund balance in order to balance the 2004 operating budget. Tax levy and budget notes of interest include the following: · The proposed general fund budget is $7,875,400. This is an 8.65% increase in expenditures from the amended (in June) 2003 budget. · The general fund budget includes two additional positions (for Information Technology support and Building maintenance) and a Park and Recreation Director to be hired mid-year. · The budget includes 3% wage increases for city employees. · The equipment and vehicle capital ouday items for 2004 are not in the general fund but are located in the equipment certificate and equipment reserves special revenue funds.