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Item No. 11 Staff Report No. Meeting Date: May 7,2001 Type of Business: WK WK: Work Session; PH: Public Hearing; CA: Consent Agenda; CB: Council Business City of Mounds View Staff Report To: Honorable Mayor and members of the City Council From: Bruce A. Kessel, Finance Director Item Title/Subject: Proposed budget calendar Date of Report: August 29, 2018 Summary: It is my understanding that the Council requested information relating to the cost of salary increases for the 2002 budget. A preliminary indication is that in the General Fund, with a 4% salary increase (granted to the 3 collective bargaining units for 2002), a 15% increase in insurance costs over the amounts in the 2001 budget and minor adjustments to reflect changes as individuals move up the payroll step progression, would cost approximately $85,000. With no other changes, this would result in a 4% increase in the levy (coincidence that COLA increase and levy increase are the same). The state has several fixed dates that can not be modified. They are: a preliminary budget and levy has to be adopted by September 15th, and a Truth In Taxation meeting and budget adoption in late November thru December 20th. Please bring your calendar to the May 7th work session to schedule meetings for budget discussions. Also, if the Council wishes to provide any guidelines relating to the budget or levy prior to departments preparing their budget requests, this should also be provided as soon as possible. Information previously distributed: I. Budget requirements. The City’s Charter and Code, as well as State Statutes set forth various requirements for considering and adopting the City’s budget. The following is a summary of those requirements: City Charter: Section 7.06, Subdivision 1. ΑThe budget shall be considered at the first regular monthly meeting of the Council in September and at subsequent meetings ... The Council shall adopt the budget by resolution ...≅ Subdivision 2. ΑAt least two weeks before the budget is adopted for the ensuring fiscal year, a summary shall be given in the City Newsletter, in draft form ...≅ Section 7.04. ΑThe City Clerk-Administrator shall submit to the Council the budget estimates with a budget calendar to be established by resolution ...≅ Section 7.05. Α... The City Council shall hold a public hearing on the long-term financial plan and adopt it by ordinance ...≅ State Statutes. On or before September 15, Cities need to establish a maximum levy and set the dates for a public hearing on the proposed budget and levy for the subsequent year. Budget