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3 6 Page 2 <br />The annual transfer of Liquor Operating Profits helps reduce taxes and provides funding for <br />capital equipment. In 2014, Liquor Operations budgeted transfer of $239,244 to the General <br />Fund and $108,200 to the Capital Equipment Fund. Without Liquor profits the General Fund <br />levy would have increased by 7.6% increase, rather than the proposed 0% increase. <br />To help offset the cost of operations and capital equipment, Staff will continue to seek Grants <br />and Donations from Federal, State and private sources. <br />At the September I Vi City Council meeting, Staff will again present the proposed 2014 Genera <br />Operating Budget and Property "fax Levy to the City Council. At that meeting a resolution needs <br />to be passed certifying the preliminary levy to Hennepin and Ramsey Counties by September <br />15°i. <br />The final presentation of the 2014 General Operating Budget and Property Tax Levy is <br />scheduled for the December 10"i, 2013, Council Meeting. At the meeting, Staff will present a <br />recap of the 2014 General Operating Budget and the impact of the 2014 Property 'Pax Levy. <br />