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<br />1995 Budget Memo <br />December 1,1994 <br /> <br />Page 4 <br /> <br />e The City net tax levy is scheduled to go up $478,500 in 1995. This increase is <br />needed to finance General Fund activities and special projects. <br /> <br />The "reasonableness" of the City's tax rate over the past few years and the <br />fact that the City is only about 20% of the total tax bill is noted in the tax <br />levy attachment. Staff will be prepared to discuss this issue at the public <br />hearing per direction by the City Council. <br /> <br />MISCELLANEOUS ITEMS <br /> <br />Before concluding this budget memo, two items must be mentioned. The first <br />item is the fact that the urban and rural taxing districts are still changing. In <br />1994 the rural rate was approximately 90% of the urban rate and in 1995, <br />this percentage is changing to approximately 95% of the urban rate. In 1996 <br />the urban and rural rates will be the same. <br /> <br />e <br /> <br />The second item that needs mentioning is the fact that the Utilities <br />Commission increased is contribution to the City in 1995. This contribution <br />allows the City to eliminate one-half of the street loader expense from the <br />budget and tax levy. Without this contribution from the Utilities, the loader <br />may not have been able to have been purchased in 1995 or our taxes may <br />have had to increase in 1996 to finance this expenditure. This financial <br />assistance from the Utilities Commission is greatly appreciated. <br /> <br />CONCLUSION <br /> <br />At the 12/5/94 Truth in Taxation budget public hearing, City staff will be <br />prepared to discuss the proposed 1995 budget and tax levy. <br /> <br />This packet contains a lot of budget information and tax levy information for <br />the City Council to review and understand. However, the City Council has <br />seen most of this material in the past few months and should know all of the <br />big issues that affect the budget and tax levy. <br /> <br />e <br /> <br />The City Council cannot adopt the tax levy or budget at this 12/5/94 meeting. <br />The City Council must announce continued consideration of the budget and <br />tax levy until 8:00 p.m. on Monday, 12/12/94. This will provide the Council <br />with an opportunity to evaluate the public input it receives on 12/5 and to <br />receive additional public input if necessary. This special meeting of the City <br />Council on 12/12 has already been called. Adoption of the tax levy and <br />budget may take place at this special 8:00 p.m. 12/12/94 meeting if a <br />continuation hearing is not needed. <br />