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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 10.3 <br />Agenda Section Meeting Date Prepared by <br />Work Session November 2, 2020 Lori Ziemer, Finance Director <br />Item Description Reviewed by <br />2021 Budget Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Continue 2021 budget discussion. <br /> <br />Background/Discussion <br />Staff will review the Furniture and Things Community Event Center goals/budget with Council and present the <br />proposed tax levy and General Fund budget for 2021. <br /> <br />On September 21, Council approved a maximum levy of $13,510,920, which is an increase of 5% over the <br />2020 levy. Staff has reviewed and made General Fund adjustments of $207,100 to bring the levy to $13,303,820, <br />which is a 3.4% levy increase over 2020. Pending any property value adjustments by the county, the projected tax <br />rate is 45.165 compared to 46.241 in 2020. <br /> <br />The General Fund budget is reduced from $17,599,600 to $17,532,500, which is a 3% increase over 2020. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />The city’s mission is to grow responsibly and be good stewards for every dollar. <br /> <br />Attachments <br /> Multipurpose Facility Goals/Budget <br /> Tax Levy <br /> General Fund Summary <br /> Projected Tax Impact <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />