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WS — Item 11 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 11 <br />Date: November 6, 2017 <br />To: City Council <br />From: Sarah Cotton, Finance Director <br />Re: 2018 Budget <br />Background <br />The preliminary 2018 Budget and Tax Levy was adopted during the September 25, 2017, <br />City Council meeting. The preliminary levy of $9,776,732 was estimated to result in a <br />city tax rate of 42.474% for 2018. Staff has since received updated Truth in Taxation <br />(TNT) values from Anoka County. The TNT tax rate for 2018 increased slightly to <br />42.756%. <br />The 2018 Budget includes $100,000 for park & trail improvements. During the <br />September 5, 2017, work session, Council discussed potential uses for an estimated <br />$300,000 in 2017 budget surplus. Staff was directed to prepare a Park & Trail CIP for <br />Council review. The Neighborhood Parks Capital Improvement/Replacement Worksheet <br />was sent to the Council for review in the October 20, 2017, weekly update. <br />Staff is seeking Council direction regarding any additions or modifications to the 2018 <br />Budget. <br />Attachments <br />General Fund Forecast Gap Analysis <br />Net Tax Capacity Rate Calculation <br />Neighborhood Parks Capital Improvement/Replacement Worksheet <br />