2017.12.04 CC Packet - Laserfiche WebLink

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H -I H7C�ity of U Cr 0 14669 Fitzgerald Avenue North, Hugo, MN 55038 (651) 762-6300 www.ci.hugo.mmus TO: Honorable Mayor Tom Weidt and Members of the City Council FROM: Ron Otkin, Finance Director SUBJECT: 2018 Final Budget and Tax Levy DATE: For the City Council Meeting of December 4, 2017 DESIRED COUNCIL ACTION Adopt Resolution Approving the General Fund Budget for the 2018 Fiscal Year. Adopt Resolution Approving Final Tax Levy Payable in 2018. COMMENTS On September 5, 2017, the City Council adopted a preliminary 2018 tax levy of $6,589,302. Washington County has determined that based on their estimate of tax capacity the urban tax rate will decrease by 0.18% and the rural tax rate will decline by 0.42%. The Finance Department has prepared resolutions approving the general fund budget and tax levy for 2018 based on this tax levy. Said resolutions are attached for City Council consideration. Staff feels that the final budget document accurately reflects the true cost of operations and meets the goals put forth by the City Council concerning spending and taxation levels. As such, the staff recommends adoption of the 2018 general fund budget and tax levy resolutions. ACKNOWLEDGMENTS The preparation of the budget document on a timely basis could not have been accomplished without the efficient services of the department heads. I want to express my appreciation to the City Administrator, Mayor, and Members of the City Council for their interest and support in planning and conducting the financial operations of the city. TTACHMENTS Resolution Approving the General Fund Budget for the 2018 Fiscal Year Resolution Approving the Final Tax Levy Payable in 2018 2018 Budget Document