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11 <br />MEMORANDUM <br />DATE: April 23, 2013 <br />TO: Mayor and City Council <br />FROM: Shelly Rueckert, Finance Director <br />ITEM: Public Hearing — 2014 General Operating Budget <br />The attached materials are a summary of the 2013 General Operating Budget. Highlights <br />of the 2013 budget include: <br />1) General Operating Budget $5,883,508 <br />2) General P'und Levy $3,098,343* <br />L 1.75% increase over 2012 <br />3) Median Valuation in 2013 $ 207,000 <br />L Down from $223,000 in 2012 <br />4) City Portion of Property Taxes $ 1,380.21 <br />5) Breakdown of 2013 Property Taxes: <br />General Fund $ 810.50 <br />Roads $ 419.12 <br />Public Works/Fire Buildings $ 99.19 <br />Tax Abatement $ 38.32 <br />Capital Improvements $ 13.08 <br />$ 1,380.21 <br />*Additional $25, 000 included with General Fund levy for Debt Service support. <br />The budgeting goals were discussed with the City Council on January 11'" and 12'x' at our <br />Financial Management Planning— Goal Setting meetings. <br />