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• WS -3 WORK SESSION MEMORANDUM To: Mayor and City Council From: Al Rolek Date: July 10, 2006 Re: Work Session Item 3 - 2007 Budget Process and Timeline cc: Gordon Heitke Attached is the proposed process and timeline for the preparation of the 2007 budget. To outline the process, budget worksheets have been distributed to all Directors for their respective departments. Directors will submit their budget requests to the Finance Director by July 20. The City Administrator and the Finance Director will then review the requests with the directors and formulate a proposed budget. At the July 24 Council work session the City Council will be asked to set its parameters for the 2007 budget. The proposed budget will be completed, distributed to the City Council and reviewed at the budget work session proposed for Monday, August 21. The review will be conducted by the Finance Director and City Administrator, with the Directors in attendance to respond to questions. Another work session is proposed for Wednesday, September 6 (if necessary) to review adjustments requested by the City Council and to come to agreement on a preliminary 2007 budget. The preliminary budget and levy, as well as Truth in Taxation hearing date, will be approved by the City Council on September 11. The proposed 2007 budget, tax levy and TNT date will be certified to the Anoka County Auditor by September 15. The initial Truth in Taxation hearing is proposed for December 11 prior to the regular City Council meeting. Due to the holidays, the second City Council meeting has been moved up by one week. It is anticipated that the City Council will again move this meeting in 2006. Therefore, a continuation hearing, if needed, is proposed for December 18 prior to the regular City Council meeting, with the final 2007 budget and tax levy being adopted at a subsequent hearing held during the regular meeting. The final 2007 budget and tax levy will be certified to the Anoka County Auditor by December 28. Should you have any questions relative to this proposed schedule we can discuss them at the work session. Page 2