HomeMy WebLinkAboutItem 11 - CC 09 2 14 Levy and Budget approval
MAYOR & COUNCIL COMMUNICATION
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DATE: September 2, 2014 REGULAR ITEM #11
AGENDA ITEM: Approve 2015 Preliminary General Fund & Library Fund Annual Budget and Tax Levy SUBMITTED BY: Cathy Bendel, Finance Director
THROUGH: Cathy Bendel, Finance Director REVIEWED BY: Finance Committee
SUGGESTED ORDER OF BUSINESS:
- Introduction of Item ..................................................................Finance Director
- Report/Presentation…………….…Finance Director/Finance Committee Chair
- Questions from Council to Staff ............................................. Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates POLICY RECOMMENDER: Finance Director and Finance Committee FISCAL IMPACT: NA SUMMARY AND ACTION REQUESTED: Pursuant to State law regarding the 2015
adoption of the Preliminary 2015 General Fund and Library Fund Levy, the City Council is asked to approve the Preliminary 2015 Annual Budget and Levy for these two funds. It is recommended that the City Council pass Resolution 2014-67, thereby approving the Preliminary 2015 General Fund and Library Fund Annual Budget’s and Levies by undertaking the following motion:
“Move to approve Resolution No. 2014-67 adopting the preliminary 2015 General Fund and
Library Fund Annual Budget’s and Levies”
City Council Meeting [Regular Agenda Item 11]
September 2, 2014
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BACKGROUND INFORMATION: The City of Lake Elmo has both the legal and fiduciary
authority and responsibility under Minnesota State Statute to adopt a Preliminary 2015 General Levy. Typically the City Council adopts a Preliminary Annual Budget at the same time. Following such adoption, the City Council may lower, but not raise the General and Library Levies and a final Levy and Budget must be adopted by December 31st, 2014
STAFF REPORT: At the budget workshop on August 13, 2014 the City Council reviewed an in-depth budget and levy presentation for 2015 related to the General Fund. At the budget workshop on August 26, 2014 the City Council reviewed an in-depth budget and levy presentation for 2015 related to the Library Fund. After various discussions, the City Council is
respectfully being asked that these Preliminary Annual Budgets and Levies be adopted. RECOMMENDATION: It is recommended that the City Council pass Resolution 2014-67,
thereby approving the Preliminary 2015 General Fund and Library Fund Annual Budget’s and Levies by undertaking the following motion:
“Move to approve Resolution No. 2014-67 adopting the preliminary 2015 General Fund and
Library Fund Annual Budget’s and Levies”
ATTACHMENT: 1. Resolution No. 2014-67 2. Preliminary 2015 General Fund Budget
3. Preliminary 2015 Library Fund Budget