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Typically a public hearing is required prior to the adoption of the city budget and tax levy <br />resolution. However, due to the decisions from the state taking place so late in the year and <br />the spin-off time requirements for the county to implement state directives, it was apparent <br />that it would be very difficult to have accurate information available in order to hold <br />informative and productive public hearings in December. Accordingly, the legislature lifted <br />the budget and tax public hearing requirements for one year. Nonetheless, in order to advise <br />the public as to the status of the city budget, a front page newsletter article was published in <br />the November addition of The Current. Additionally, the county plans to send out notices to <br />all property owners, which advise them that they should contact city hall if they desire more <br />information regarding the proposed city budget. <br /> <br />Watching revenues will be an on-going activity in 2002. Staff is seriously concerned about <br />the state government shortfall and its potential ramification on state-aids. If some of these <br />aids are withheld or eliminated, then we may have to use some of our unreserved fund <br />balance. Additionally, growth related revenues are budgeted at their highest level ever. There <br />is a concern about a downturn in the economy and that all of these revenues may not be <br />realized. If this were to take place the city would have to look at cuts in expenditures in <br />order to maintain a balanced budget. Future issues for 2002 and beyond include being able <br />to finance employees and departments for park and recreation, city engineering, and <br />information technology, along with financing the street, fire, police, and parks equipment <br />needs so that we can continue to provide adequate services. <br /> <br />In addition to approving the general fund budget in the amount of $7,215,500, the City <br />Council is also being requested to approve the 2002 tax levy resolution. Attached for your <br />information is a proposed tax levy resolution. This resolution reflects the exact figures from <br />the September 4, 2001 Council approved resolution. <br /> <br />Reques ted Action <br /> <br />It is requested that the City Council approve the 2002 general fund budget in the amount of <br />$7,215,500. <br /> <br />It is requested that the City Council approve Resolution 01- <br />proposed property tax levy for collection in 2002. <br /> <br />__ a resolution authorizing the <br /> <br />Attachments <br /> <br />· July 2, 2001 Summary Pages for Revenues and Expenditures <br />· Budget Changes (July though Dec. 10) <br />· 2002 Capital Outlay Page (Final Updated Version) <br />· Property Value and Tax Rate Pages <br />· Tax Levy Resolution <br /> <br /> <br />