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25 <br />MEMORANDUM <br />DATE: April 24, 2012 <br />TO: Mayor and City Council <br />FROM: Mark Casey, City Manager <br />Shelly Rueekert, Finance Director <br />ITEM: Public Hearing — 2013 General Operating Budget <br />The attached materials are a summary of the 2012 General Operating Budget. Highlights <br />of the 2012 budget include: <br />1) General Operating Budget $5,498,650 <br />2) General Fund Levy $3,045,166 <br />a. 3.38% increase over 2011. <br />3) Median Valuation in 2012 $ 223,000 <br />a. Down from $225,000 in 2011. <br />4) City Portion of Property Taxes $ 1,382.85 <br />5) Breakdown of 2012 Property Taxes: <br />General Fund $ 823.65 <br />Roads $ 405.92 <br />Public Works/Fire Buildings $ 110.84 <br />Tax Abatement $ 40.41 <br />PEI2A $ 2.03 <br />$ 1,382.85 <br />The budgeting goals were discussed with the City Council on January 12°i and 13°' at our <br />Financial Management Planning — Goal Setting meetings. In addition to the work <br />sessions on March 12°i and April 16"'. <br />