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CITY COUNCIL <br />WORK SESSION STAFF REPORT <br />ITEM NO. 7 <br /> <br />STAFF ORIGINATOR: Hannah Lynch, Finance Director <br /> <br />WORK SESSION DATE: May 6, 2024 <br /> <br />TOPIC: 2025 Budget Goal Setting <br /> <br />______________________________________________________________________________ <br />INTRODUCTION <br />To kick off the 2025 budget process, the City Council should identify goals to be incorporated in <br />the draft 2025 budget and tax levy which will be first reviewed in August 2024. Key dates in the <br />process are presented on the attached 2025 Budget Calendar. <br /> <br />BACKGROUND <br />As a starting point for Council discussion, the 2024-2028 Financial Plan outlines the following <br />for 2025 (see also the attached 2024-2028 Financial Plan Tax Summary): <br />• Tax rate increasing to 38.907% from 36.007% <br />• 5.00% increase in General Fund expenditures resulting in a 5.50% increase in the <br />General Fund operating tax levy <br />o Includes day to day operations for the following departments: <br /> Administration <br /> Community Development <br /> Public Safety <br /> Public Services <br />• Continuation of the following operating tax levies: <br />o Rookery Activity Center ($500,000) <br />o Blue Heron Days ($10,000) <br />o Capital Fire Water Tender Replacement ($221,565) <br /> Slightly lower than what the plan shows as the amount was bought down <br />with Public Safety Aid in December 2023 <br />o Office Equipment ($25,000) <br />o Park & Trail Improvements ($90,000) <br />• Increase in the Capital Equipment Fund operating tax levy to $810,000 from $600,000 <br />• Increase in the Pavement Management Fund operating tax levy to $1,138,500 from <br />$990,000 <br />• Increase in the debt tax levy for the 2024 Street Reconstruction Project (estimated at <br />$461,825) <br />39