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<br /> <br /> M E M O R A N D U M <br /> <br /> <br />DATE: December 10, 2019 <br /> <br />TO: Mark Casey, City Manager <br /> <br />FROM: Shelly Rueckert, Finance Director <br /> <br />ITEM: 2020 Final Levy / General Fund Budget <br /> <br /> <br />At the September 10th City Council meeting, a public hearing was held setting the preliminary <br />2020 property tax levy and the 2020 General Fund Budget. <br /> <br />Staff’s is reaffirming the preliminary 2020 property levy of $7,609,458. The 2020 proposal <br />represents an increase of $298,005 or a 4.08% increase from 2019. <br /> <br />The components of the 2020 Final property tax levy are as follows: <br /> <br /> <br /> <br />The components of the 2020 proposed preliminary levy are as follows: <br /> <br />The parameters for preparing the General Fund Budget and Levy include: <br /> <br />o Budgeted City revenues are determined by: <br />o Using current run rates for revenue sources subjected to trends <br />o Conservative baseline estimates are used for re-occurring aids and charges for <br />services <br />o Expenses budgeted at amounts that will maintain present level of City services <br />o Liquor transfers are based on current operating results <br /> <br /> <br />The General Fund Budget and Levy cost drivers are as follows <br /> <br />Each year the General Fund revenue and expenditure budget line items are examined for <br />changes in expected collections/charges, labor adjustments, changes in contract rates, <br />insurance rates, utility costs, usage of various materials or needs, etc. The findings of this <br />examination produce the drivers associated with the proposed 5.71% increase in the General <br />Fund Levy - see below: <br /> <br />19