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Staff presents updated budget proposals, including: <br />Anticipated overall levy increase <br />Major budget impacts and key drivers <br />Known versus unknown revenue and expense changes <br />Potential changes may include: <br />New staffing requests <br />Grant funding or one-time revenues/expenses <br />New tax or benefit mandates <br />Extraordinary inflationary impacts <br />Staff continues to refine projections and pursue cost savings or alternative funding sources. <br />Presentation of Proposed 2027 Budget and Property Tax Levy <br />Staff presents the proposed General Fund Budget and Property Tax Levy, highlighting significant <br />changes and seeking Council feedback. Estimates continue to be refined following Council <br />direction. <br />Public Hearing – Preliminary Budget and Property Tax Levy <br />Presentation of the proposed budget and any updates <br />Resolution setting the Preliminary Property Tax Levy for certification to Hennepin and Ramsey <br />Counties by September 30 <br />The preliminary levy represents a “not-to-exceed” amount <br />The Mayor opens and closes the public hearing and receives public input. <br />Capital Improvement Plan Review and Approval <br />Council reviews: <br />Levy-related capital funds and corresponding levies: <br />o Capital Equipment <br />o Building Improvement <br />o Infrastructure Improvement <br />o Parks Improvement <br />o Debt Service <br />Non-levy capital funds: <br />o Stormwater <br />o Utilities Infrastructure <br />Council feedback is incorporated prior to final approval. <br />Truth in Taxation Public Hearing and Final Adoption <br />Presentation of the final proposed 2027 Budget and Property Tax Levy <br />Resolution setting the Final Property Tax Levy for certification by December 31 <br />Public input received <br />Council adopts the 2027 Budget, Property Tax Levy, and associated resolutions. <br />ATTACHMENTS <br />Presentation <br />Public Hearing Notice