7.0. SR 08-29-1994 - Laserfiche WebLink

Home Browse Search

. Mter receiving City Council input on these three topics, staff will be prepared to present and discuss the 1995 budget. This budget process begins with an overview of the 1994 budget status and looks something like the following: . 1994 budget overview . 1995 proposed expenditures . 1995 proposed revenues . Outline the 1995 budget "gap" . Overview of the status of the City levy . Options for closing the 1995 budget gap and review of City financial issues and priorities . City Council action (9/6/94) The City Council should note that we may not actually get into much of a 1995 budget discussion until Tuesday evening. Staff needs to present all of the data to the Council the week of August 29 in order to have a productive discussion at the Tuesday, 9/6/94 budget worksession. . The Council should also note that the budget process and gap will be similar to previous years. Even with no additional emDlovees and a modest tax rate increase. a budg:et g:aD will still exist. The City has exhausted all of its non- tax revenues, and in plain and simple terms, increased services now means increased personnel and this means increased tax revenues. Hopefully these increased tax revenues can be offset by an increase in the tax base, but this is not always the case. The City tax rate has been very reasonable for the past years and has actually gone down a few times and if we are to increase employees and services in 1995, we may need to evaluate a tax increase for these services. This will certainly be one of the focuses of our discussions on 8/30/94 and 9/6/94. .