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<br />r I( 1 <br />~lii <br /> <br />ITEM 5.2. <br /> <br /> <br />MEMORANDUM <br /> <br />FROM: <br /> <br />Mayor & City Council <br /> <br /> <br />Pat Klaers, City Adminif5atW~ } <br /> <br /> <br />December 19, 1994 (f' <br /> <br /> <br />DATE: <br /> <br />SUBJECT: Budget and Tax Levy <br /> <br />In September, the City Council adopted its proposed maximum budget and <br />tax levy resolution. A public hearing was held on December 5 and on <br />December 12 in order to receive public input on the proposed budget and tax <br />levy for 1995. <br /> <br />The budget is proposed in the amount of $3,732,250. This is a 9.94% or <br />$337,500 increase over the adopted 1994 budget. Almost all of this increase <br />is related to personnel issues. <br /> <br />. <br /> <br />The net tax levy for 1995 is proposed in the amount of $2,223,347. The <br />proposed net levy is $478,499 more than the adopted 1994 net levy. Almost <br />all of this net levy increase is for the general fund budget and for the surface <br />water management program. <br /> <br />Attached for your consideration is the resolution that approves the budget <br />and tax levy. <br /> <br />council: bdgtlevy <br /> <br />. <br /> <br />13065 Orono Parkway · P.O. Box 490. Elk River, MN 55330. (612) 441-7420. Fax: (612) 441-7425 <br />