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<br />WS – Item 7 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 7 <br /> <br /> <br />Date: May 2, 2016 <br /> <br />To: City Council <br /> <br />From: Jeff Karlson, City Administrator <br /> <br />Re: 2017 Budget Priorities <br /> <br /> <br />Background <br /> <br />During the April 4 work session, Mayor Reinert suggested the Council begin reviewing <br />the 2017 budget at the May work session. Mayor Reinert said he would like to give <br />direction to the staff on what the Council’s priorities are for the coming year. <br /> <br />The management team is in the process of preparing the 2017 budget. The City was <br />notified a few weeks ago that as of March 8, 2016, the City’s taxable market value is <br />estimated to increase 6.6%. Based on this preliminary estimate, the City’s tax levy could <br />increase by $520,359 without raising the tax capacity rate of 45.985%. However, there <br />are several other factors to consider, including: (1) inflationary adjustments; (2) salary <br />and benefit increases; (3) capital equipment replacement; and (4) the use of fund reserves <br />for certain expenditures in the 2016 budget. <br /> <br />Staff will be prepared to answer any questions the Council may have, but it is our <br />understanding the purpose of Monday’s discussion is for the Council to communicate its <br />priorities for staff as we prepare the 2017 budget. <br /> <br />Requested Council Direction <br /> <br />Discuss Council priorities for the 2017 budget. <br /> <br />Attachments <br /> <br />Cash & Investment Balance as of April 19, 2016 <br />Summary of Year-to-Date General Fund Expenditures <br />Year-to-Date General Fund Revenues <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />