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August 11, 2010 Page 3 of 5 <br />City Manager Lotter reported the there are a series of three resolutions relating to the 2011 budget. <br />'Finance Director Dan Maiers explained the following three business items will be presented together. <br />It was explained that aproposed tax levy will need to be certified to the County by September 15'h 2010, along <br />with dates for the budget adoption, as well as the proposed levy for Special Taxing Districts Lake Diane and <br />Bicentennial Pond, as well as the long tern financing for capital replacement plans. <br />The 2011 recommended orating fiord includes a tax levy of $7,395,708; exactly the same as the 2010 budget. <br />The recommended budget is $12,298,700; a 2.3% decrease (-$290,100) from the 2010 budget. <br />It is recommended that the 2011 Budget Discussion with Public Comment meeting be held <br />Tuesday, December 7th at 6:30 p.m. The final 2011 budgets and tax levies will be adopted during <br />the regular City Council business meeting on Tuesday, December 14 at 6:30 p.m. <br />Finance Director Maiers reported in 2009 the City ended with a stuphls in their Fund Balance Target Account of <br />$1.1 million. It was recomnended did betransferred to the Fleet Non -Fleet account <br />Another recommendation was that transfers be made from the Capital Project Fund to the Pavement <br />Management Fund over the next several years. <br />Councilme nber Burg stated that it was adifficult task to obtain a 0%merease, and service levels will be <br />reduced. Councihnenber Bauman expressed her appreciation to Finance Director Maiers and City Manger <br />Lotter for their efforts in the budget process. CouncilmemberBauman reiterated that service levels will be <br />reduced slightly, not excessively Mayor Jacobsen reported he has spent an excessive amount oftime reviewing <br />the budget and the budget process, and reported the City's finances are stable. <br />Motion by Councillnember Phillips, seconded by councihnember Burg to approve the resolution <br />adopting the proposed levy for taxes payable in 2011 and to set the dates for the budget discussion with <br />' public comment and final determination of tax levies, as written with the deletion of item 3. <br />5 Ayes, 0 Nays, Motion Carried <br />2. Resolution Adopting the Proposed Tax Levies for Taxes Payable in 2011 for <br />Lake Diane and Bicentennial Pond Storm Sewer Improvement Taxing <br />Districts. Report No. 10-197. Resolution No. 10-055. <br />Finance Director Maiers explained both taxing districts have had the same levy for several years, <br />the same is recommended for 2011; $2,250 for Lake Diane and $2,000 for Bicentennial Pond. <br />Councilmember Phillips stated it is his expectation to have a discussion related to the <br />Bicentennial Levy for 2011, and suggested removing the levy for the Bicentennial Pond taxing <br />district until such a meeting can take place. City Attorney LeFevere reported the original <br />contract was for a five year project, beginning in 2007 with 14 properties included. In order to <br />honor the contract, this levy needs to approved. LeFevere gave the alternative to omit the levy <br />this year, and use other funding sources to fund the project, and then create a new district with <br />the determined number of homes. Councilmember Burg reported she lives in the Bicentennial <br />District, and will be abstaining from voting on the item; although she is in favor of continuing the <br />original five year process. <br />2. Resolution Adopti <br />the Proposed Tax Le <br />for Taxes Payable in <br />2011 for Lake Diane <br />and Bicentennial <br />PondStorm Sewer <br />Improvement Taxinr <br />Districts. Report No <br />10-197. Resolution <br />10-055 <br />