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Page 1 of 3 <br /> <br />SPECIAL CITY COUNCIL WORKSESSION –1B <br /> <br />MEMORANDUM <br /> <br />DATE: November 27, 2017 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> William S. Joynes, Sr., City Administrator <br /> <br />FROM: Dave Perrault, Interim Director of Finance and Administrative Services <br /> <br />SUBJECT: 2018 Preliminary Budget Discussion <br /> <br /> Budgeted Amount: Actual Amount: Funding Source: <br /> N/A N/A N/A <br /> <br />Council Should Consider <br /> <br />The City Council should discuss and provide feedback for the 2018 preliminary budget and <br />capital improvement program. <br /> <br />Background <br /> <br />The City Council has met on four occasions thus far to discuss the 2018 budget and capital <br />improvement program (CIP), the most recent meeting was at the September 25, 2017 City <br />Council meeting. At the most recent meeting, the City Council set a four percent preliminary <br />General Fund increase ($145,652), this levy increase can be decreased but not increased. The <br />Truth-in-Taxation public hearing and budget decisions are scheduled for the December 11, 2017 <br />City Council meeting. For tonight’s meeting, City staff is requesting the City Council give <br />specific direction on the below budget items and provide any further direction in preparation for <br />the December 11, 2017 meeting. Also, an update regarding the rate study has been attached. <br /> <br />COLA <br /> <br />The current Cost of Living Adjustment (COLA) for the 2018 is set at 2.5 percent. Please see the <br />below table for comparables. <br /> <br /> <br />