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WORKSESSION MATERIALS <br />0 of <br />E��I�01�1 <br />AW ofay that w rks km, you <br />- Ji. =O. � <br />To: Mayor and Council <br />From: Dean R. Lotter, City Manager <br />Subject: 2009 Budget and Policy Directives <br />Date: November 7, 2008 <br />In an effort to build on the discussion that Council had previously about setting <br />out policy expectations, this memo will attempt to encapsulate all of the different <br />issues the 2009 budget attempts to deal with. Prior to Council receiving the first <br />copy of the budget, I along with my staff made adjustments that equated to <br />$263,500. This effort resulted in a balanced budget. Council has some open <br />items remaining and staff still needs direction on this matters. <br />Further building on the policy directives discussion that Council has started <br />having, it could be suggested that some of the items discussed during the budget <br />should be added to the policy docket for future Council policy meetings. <br />Franchise Fees, utility rates, and annual tax levy are all things that can be <br />discussed in further detail in the future so that the Council can determine a long- <br />term policy position relating to them. <br />eneral Fund Budget <br />The City Manager's recommended 2009 budget proposes a tax levy increase of <br />2.03% over last year's levy. Due to a minimal levy increase and due to market <br />valuation adjustments with residential values dropping and commercial values <br />rising, the residential property taxpayer should see a reduction in taxes as <br />denoted in the table below. <br />H:\Co=pondence\City Council\Budget and Policy\Budgel and Policy Directivcs with Dan.doc <br />