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Operating Budget; December 3, 2007 for Truth in Taxation public hearing; and <br />December 17, 2007 Council approval and final adoption of 2008 Operating Budget <br />and tax levy. <br />The Finance Director discussed the proposed 2008 Operating Levy. He explained <br />that based on the proposed 2008 operating budget, there is expected an increase of <br />5.12% to the General Levy and a 4.38% increase in the overall levy from 2007. <br />Alternative levy options were presented by Mr. Larson and discussed by Council <br />and Staff using the Key Financial Management Plan strategies presented earlier by <br />Ms. Kvilvang. <br />He indicated that again, the reasons for the increases are generally due to increased <br />motor fuel costs, increased health insurance costs; cost of living increases for Staff; <br />increased facilities maintenance costs; and the 2007 Road Improvement Project. <br />Capital Equipment needs were also discussed based on the resources identified in <br />the City's Key Financial Management Plan. <br />Council expressed their interest in keeping the General Fund levy at 5.12 %. <br />Meeting was adjourned at 9:13 p.m. <br />Minutes respectfully submitted by Kim Moore - Sykes. <br />F:1Minutes120071Counci1 Staff Budget worksession 07 31 07.doc <br />