2.0. SR 08-22-2005 - Laserfiche WebLink

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Item # 2.0. MEMORANDUM TO: Mayor and City Council FROM: Pat Klaers, City Administrator August 22,2005 if(lk€4V' DATE: SUBJECT: 2006 Budget INTRODUCTION At the regular Council worksession on August 8, 2005, a general budget overview was presented and Council feedback was received on taxes, personnel, and capital outlay. A special City Council budget worksession is scheduled for 6:30 p.m. on Monday, August 22, 2005. The 2006 proposed maximum tax levy for the city needs to be certified to the County by September 15,2005. This August 22,2005, budget worksession is necessary in order to get to (or get closer to) a balanced budget and a city tax levy amount and/or rate for the upcoming year. However, one of the difficult parts about this budget worksession is related to timing and the fact that we do not have information from the County on the city net tax capacity (NTC) increase for next year. As previously reviewed with the City Council, typically 65-70% of the general fund revenues come from taxes and a sizable increase in the city NTC allows the city to generate additional tax revenue for municipal programs and services without a change in the city tax rate. In the final analysis, the exact amount of the NTC increase becomes a key factor in balancing the budget and establishing levels of service for various municipal programs. ATTACHMENTS · Preliminary levy sample for taxes payable 2006 and tax levy resolution for 2005 · 2006 capital outlay page and April 2005 capital improvement program material · General fund revenues (4-pages) · General fund expenditures summary by category (5-pages) and overall summary page · 2006 staff additions page · Revenues budget worksheets · Expenditures budget worksheets · RSVP funding request letter S:\Council\Pat\Budget\2006\08 25 05 Budget Worksession.doc