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11 <br />MEMORANDUM <br />DATE: April 20, 2010 <br />TO: City Council <br />FROM: Mike Morrison, City Manager <br />Roger Larson, Finance Director <br />ITEM: PUBLIC HEARING 2011 OPERATING BUDGET <br />The attached materials are a summary of the 2010 General Operating Budget. Highlights <br />of the 2010 budget include: <br />1) General Operating Budget $5,283,400 <br />2) General Fund Levy $2,945,511 <br />a. Same as 2009 Levy — 0% Increase. <br />b. $37,040 less than maximum Levy Limit set by State <br />3) Median Valuation in 2010 $ 238,000 <br />a. Down from $253,000 in 2009 <br />4) City Portion of Property Taxes $ 1,234.81 <br />5) Capital Equipment Budget $ 313,200 <br />6) 0% - No Salary increase in 2010 <br />The 2011 budget goals were discussed with the City Council on January 14th and 15th at <br />our Financial Management and Planning/Goal Setting meetings and at the March I" work <br />session. <br />