5.6. SR 06-13-2011 - Laserfiche WebLink

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~~j~j, ,,,~ MEMORANDUM .11~ ~--. R~i~er TO: Mayor and City Council FROM: Tim Simon, Finance Director DATE: June 13th, 201 I SUBJECT: 2012 Budget and Tax Levy Discussion Item # 5.6. City staff has started to work on developing a preliminary 2012 Budget. Budget meetings are currently being held with all of the department heads or division managers and the preliminary requested budgets are being compiled. At this worksession we will begin discussing the 2012 tax levy and budget parameters. As you know, all of this leads up to the Council adopting a maximum tax levy prior to September 15. The final budget will not be adopted until December. The majority of the budgets will be discussed at meetings in July and August. Proposed Budget Timeline • June 13 -Council worksession: General budget discussion on tax levy, Council goals, staffing, pay and benefits, and other budget policy items • July 11, August 8, and other dates to be determined: Presentation of proposed budget to Council with department heads and division managers in attendance • September 12 -Approve maximum tax levy • October 10, November 14 -Continue budget and tax levy discussion • December 5 -Present final proposed budget, take additional public input, adopt final budget and tax levy • October 10 & November 14 worksessions: 2012-2016 Capital Improvement Plan • October 10 & November 14 worksessions: Enterprise Funds and other non-tax levy budgets Levy Limits Levy limits have been in place for the 2009-2011 budgets and there is discussion that they will be in place for the 2012 budget as well depending on the outcome of the Legislative session. The chart below shows that as of the 2011 budget we have been significantly under the amount allowable by levy limits. N:\Public Bodies\City Council\Council RCA\Agenda Packet\06-13-2011\2012 budget 06132011.docx