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<br />funds. Before putting together projected budget numbers for presentation to the Council, I'd <br />like to get a feel from the Council on where your target tax rate falls for 2008. <br /> <br />Finally, here is a brief overview of the budget timeline that I will discuss in more detail at the <br />meeting. The proposed budget and maximum levy need to be approved by the City Council <br />for certification to the County by September 15. We are cunently compiling all the budgets <br />that have been submitted by the division managers and department heads. One of the last <br />pieces of information that we wait for before fmalizing the tax levy is the estimated net tax <br />capacity; we typically receive it around the beginning of September from the County <br />Assessor. We anticipate that schedule to be the same this year and would look for final <br />approval of the maximum tax levy from the Council on September 10. The Council will <br />have had an opportunity to review the entire budget prior to that time. Again at the July and <br />August worksessions, department heads will be present to present in general their staff <br />additions, capital outla.y, goals, and program changes. With the Council's input from these <br />worksessions, we will put together a budget for presentation in detail later in August that will <br />align the goals the department heads have developed and programmed into their respective <br />budgets with the Council's goals. <br /> <br />2 <br />