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<br /> <br /> STAFF REPORT <br /> <br /> <br />TO: Mayor Fischer and Members of City Council <br /> <br />FROM: Sam Magureanu, Finance Director <br /> Chris Heineman, City Administrator <br /> <br />DATE: November 29, 2023 <br /> <br />RE: 2024 Budget and Levy <br /> <br />ACTIONS TO BE CONSIDERED: <br /> <br />1. The City Council is asked to conduct a public hearing as part of the 2024 budget approval <br />process (staff will have a brief presentation). <br /> <br />2. Motion to adopt the 2024 Tax Levy. <br /> <br />3. Motion to adopt the 2024 Budget. <br /> <br />4. Motion to approve the 2024 salary wage schedule. <br /> <br />BACKGROUND: <br />A preliminary tax levy increase of 9.79% was adopted by the City Council on September 13th. <br />The final levy may not be increased from the preliminary levy, but the final levy may be reduced <br />from the preliminary levy. The preliminary levy was used by Ramsey County to prepare the <br />notices of estimated property taxes that were mailed to the property tax owners in November. <br />Those notices listed a public Truth in Taxation (TNT) hearing on the 2024 budget to be held at <br />tonight’s meeting. <br /> <br />Final Property Tax Levy: <br />Since the preliminary tax levy was adopted in September, a few adjustments have been made <br />resulting in a decrease of $43,398 or 1.05% to the total levy from 9.79% to 8.74%. The levy <br />reduction was primarily driven by a decrease of $42,746.50 to the contract for police services <br />with Ramsey County. This decrease included adjustments to the administrative fees initially <br />requested by Ramsey County and elimination of two additional deputy positions. The total cost <br />for police services for 2024 is a net cost of $1,882,650.90.