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Memo - City Council <br />2017 Proposed Preliminary Budget and Tax Levy <br />9 <br />9 <br /> <br />2017 Rate Increases <br />Water 2% <br />Sanitary Sewer 2% <br />Surface Water 3% <br />Other Funds <br /> <br />We have had previous discussion about the EDA Fund. A $90,000 transfer from the General <br />Fund to the EDA has been included in the levy and budget proposed above. <br /> <br />Special Revenue Funds were included in the November Worksession. <br /> <br />Capital Funds were discussed at our June meeting during the Capital Improvement Plan (CIP) <br />review. It should be noted that we still have not identified a funding source for this fund to build <br />reserves. <br /> <br />Enterprise Funds are being evaluated evaluated and changes made to <br />accurately reflect economic conditions and historical trends and any <br />increases that may be passed through to us by other agencies. <br /> <br /> <br /> <br />GENERAL INFORMATION <br /> <br />A final levy is established and certified in December. As Council knows, once a preliminary <br />levy is established, the amount can be reduced, but it cannot be increased. <br /> <br />The preliminary budget has been updated per Council direction. The City Council has reviewed <br />the other funds and the Capital Improvement Plan (CIP) at previous worksessions. <br /> <br />DIRECTION REQUESTED: <br /> <br />1. Adoption of the 2017 final levy, Resolution 2016-039 <br />2. Adoption of the 2017 final budget, Resolution 2016-038. <br />3. Motion to approve the 2017 – 2021 CIP as presented. <br /> <br />Attachments <br /> <br />Attachment A: Summary of 2017 – 2021 CIP <br />Attachment B: Resolution 2016 – 038 <br />Attachment C: Resolution 2016 – 039