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<br /> <br /> STAFF REPORT <br /> <br /> <br />TO: Mayor Fischer and Members of the City Council <br /> <br />FROM: Sam Magureanu, Finance Director <br />REVIEWED BY: Chris Heineman, City Administrator <br /> <br />DATE: December 4, 2024, City Council Meeting <br /> <br />RE: 2025 Final Proposed 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 2054 budget approval <br />process (staff will have a brief presentation). <br /> <br />2. Motion to adopt the 2025 Tax Levy. <br /> <br />3. Motion to adopt the 2025 Budget. <br /> <br />4. Motion to approve the 2025 salary wage schedule. <br />. <br /> <br />BACKGROUND <br />At the September 11th City Council meeting, the City Council adopted a preliminary tax levy increase <br />of 9.51%. The final levy may not be increased from the preliminary levy, but the final levy may be <br />reduced from the preliminary levy. The preliminary tax levy increase of 9.51% was used by Ramsey <br />County to prepare the notices of estimated property taxes mailed to property 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 council meeting. <br /> <br />This presentation is intended to focus primarily on the community impact of the budget and options to <br />reduce the levy rather than presenting the details of the budget. Detailed presentations of the preliminary <br />budget were discussed at the August 18th, August 28th, and September 11th City Council workshops. <br /> <br />City staff is currently proposing a final 2025 levy increase of 7.84%. This would represent a decrease <br />of 1.67% from the adopted preliminary levy of 9.51%. A summary of the key contributing factors for <br />this decrease is listed on the following page. <br /> <br />