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The 2017 Capital Improvement Fund Levy is proposed to increase by $152,210. The portion <br />of this increase related to the 2015 phase–in plan to rebase liquor transfers is $77,210. The <br />additional $75,000 increase is to provide funding needed to replace daily operations equipment <br />as its useful life expires, see Exhibit E. <br /> <br />The 2017 Debt Related Levies are proposed to increase by $16,010 over the 2016 combined <br />levies. A debt levy reduction program (Peak to Plateau) began in 2014 to stabilize the annual <br />increase in levies created the annual street reconstruction plan. Without the use of resources <br />committed to this program the impact of 2016 street bonds issued along with existing debt <br />service requirements would have required a 6.01% increase in the Overall Levy, <br />see Exhibit F. <br /> <br />Budget meetings following the upcoming August 23rd Council Meeting <br /> <br />At the September 13th, 2016 City Council meeting, Staff will present the preliminary 2017 <br />General Operating Budget and Property Tax Levy to the City Council for approval. At this <br />meeting a resolution will need to be passed certifying the preliminary levy to Hennepin and <br />Ramsey Counties. <br /> <br />The final presentation of the 2017 General Operating Budget and Property Tax Levy is <br />scheduled for the December 13th, 2016, Council Meeting. At the meeting, Staff will present a <br />recap of the 2017 General Operating Budget and the impact of the 2017 Property Tax Levy. <br /> <br /> <br /> <br /> <br />