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• <br />• <br />WS — Item 5 <br />WORK SESSION STAFF REPORT <br />Work Session Item 5 <br />Date: December 3, 2012 <br />To: City Council <br />From: Al Rolek <br />Re: Final Review of the 2013 Proposed Budget <br />Background <br />At the November work session the Council requested a final review of the 2013 proposed <br />budget. Attached are summaries of the General Fund proposal, preliminary tax levy and <br />the estimated tax rate. The only adjustments made to the budget previously presented are <br />1) $50,000 additional revenue from Centennial Utilities franchise fee, and 2) reduction in <br />the health insurance expenditures from an estimate 10% increase to an actual 3% <br />increase. The budget is balanced by adding these amounts to the budget contingency, <br />bringing that amount from $75,000 to $145,075. The 2013 General fund budget is <br />proposed at $8,841,385, which is $321,053 less than the 2012 budget. The City Council <br />approved the preliminary 2013 levy of $8,215,628 on September 10. Staff will present <br />the final budget and levy proposal at the public hearing to be held on December 10. <br />Requested Council Direction <br />Following the review, staff requests Council consensus on a final budget to be presented <br />at the December 10 public hearing. <br />Attachments <br />2013 Proposed General Fund Budget summaries <br />Preliminary 2012 Tax levy <br />Estimated Tax Rate Calculation <br />