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City of Elk River <br />Management's Discussion and Analysis <br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED) <br />Economic Factors and Next Year's Budgets and Rates <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 2022 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`s finances for all those with <br />an interest in the City`s finances. Questions concerning any of the information provided in this report or <br />requests for additional financial information should be addressed to the finance department, City of Elk <br />River, 13065 Orono Pkwy, Elk River, Minnesota 55330 or by calling 763-635-1000. <br />32 <br />