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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 1, 2021 Lori Ziemer, Finance Director <br />Item Description Reviewed by <br />2022 Budget Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Continue 2022 budget discussion. <br /> <br />Background/Discussion <br />On September 20, the Council approved a maximum levy of $14,134,100, with a preliminary General Fund budget <br />of $18,987,050. Since then, adjustments of $248,400 have been made to bring the levy to $13,885,700 with an <br />estimated tax rate of 43.830%, compared to 44.556% in 2021, 46.241% in 2020, and 45.907% in 2019. The levy <br />adjustments consist of the liquor transfer revenue increase of $175,000 and expenditure reductions of $73,400. <br /> <br />Expenditure adjustments of $73,400, resulting from recent personnel turnover and decreases in supplies, reduce <br />the General Fund budget to $18,913,650. The increase in the General Fund budget is impacted by personnel <br />additions/upgrades for building maintenance, park maintenance, mechanic, communications, and community <br />policing. Additional costs for supplies and maintenance associated with the newly added park amenities and <br />facilities are also reflected in the General Fund budget increase. <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 /> Tax Levy <br /> General Fund Budget <br /> 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 />