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IV-8 <br />CITY OF ELK RIVER <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />YEAR ENDED DECEMBER 31, 2019 <br />Economic Factors and Next Year's Budget <br />The City of Elk River estimates that the demand for City services will continue at stable growth levels <br />due to the economic environment and the outlook of recent building activity. This was taken into <br />consideration in preparation of the City's 2020 budget. The property tax levy is set annually and is <br />adjusted as necessary to fund the cost of providing services to our citizens and customers. Charges for <br />services are evaluated each year and adjusted if warranted. The City expects to keep the tax levy <br />consistent in upcoming years. <br />Requests for Information <br />This financial report is designed to provide a general overview of the City of Elk River's finances for all <br />those with an interest in the City's finances. Questions concerning any of the information provided in <br />this report or requests for additional financial information should be addressed to City of Elk River, Attn: <br />Finance Director, 13065 Orono Pkwy, Elk River, Minnesota 55330 or by calling 763-635-1000. <br />156