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� <br />EN HILLS <br />MEMORANDUM <br />DATE: May 16, 2011 <br />TQ: <br />FROM: <br />SUBJECT: <br />Honorable Mayor and City Council <br />Patrick HIaers, City Administrator <br />Sue Iverson, F�auauce Direcfor/Treasurer <br />2012 Prelimi�ary Budget Discussion <br />BACKGROUND: <br />The City stafF will begin the process of developing a Prelimi�ary 2012 Budget. As we progress <br />forward and talce the necessary steps, staff needs general directio� and guidance from �he <br />Council with regards to changes for the coming year. <br />As af this ti�ne, we are under �evy limits �ar 2012. The Implicit price deflator (IPD) cannot be <br />below zero. C�rrent estamates are at 2.532%. The Minnesoia Department of Revenue s�ts this <br />in early July, so we do not have the actual number yet. We did not le�y io our full maximum lasi <br />year vvhen we take inta account special levies. Selow is a sutnmary of Iast year's levy limit and <br />actual levy adopted by the City Council. <br />Pay 2f�1�. Le�y <br />��era�l Le�y Limit <br />Specia) Le�ies <br />Total Levy Limi� <br />City Adapted Levy <br />Unused Le�y <br />$2,058,602 <br />1,227,632 <br />$3,286,23�[ <br />$3,OS8,964 <br />$ 197,27Q <br />