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• <br /> ,A EN HILLS <br /> MEMORANDUM <br /> DATE: December 3, 2007 AGENDA ITEM: 6A <br /> TO: Mayor and City Council <br /> FROM: Michelle Wolfe, City Administrator <br /> Sue Iverson, Finance Director <br /> SUBJECT: Public Hearing and Presentation: Truth in Taxation <br /> 2008 Tax Levy and Proposed Budget <br /> Attached is a copy of the presentation materials for Monday's Truth in Taxation Hearing. In <br /> terms of the budget information contained in the presentation, it is based on the budget as <br /> proposed and presented to the City Council at the November 19th work session, with the <br /> following changes: <br /> • Decreased contingency to $25,000 to allow for salary market adjustments and other <br /> . unanticipated expenses <br /> • Tax levy amount has been reduced to $2,797,348, which is a 4.6% increase from last <br /> year. <br /> We will do our best to address questions raised on Monday evening. To the extent we cannot, <br /> Council has the ability to continue the hearing to 6:30 p.m. on Monday, December 10. <br /> Please feel free to contact us with any questions you have after reviewing these materials. <br /> Attachment <br /> • <br />