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NEW BUSINESS —11B <br />'It <br />-AVEN,HiLLs <br />MEMORANDUM <br />DATE: September 23, 2024 <br />Honorable Mayor and City Councilmembers <br />TO: Jessica Jagoe, Interim City Administrator <br />FROM: Joua Yang, Finance Director <br />SUBJECT: Preliminary Tax Levy Approval for Taxes Payable 2025 <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />Council Should Consider <br />Motions to approve, table or deny the following: <br />• Resolution 2024-045 setting the Preliminary Levy for Taxes Payable in 2025 <br />• Resolution 2024-046 adopting Truth In Taxation Public Hearing Date for Proposed Taxes <br />Payable in 2025 <br />Background <br />State law requires that cities certify their proposed property tax levies to the county auditor by <br />September 30th of each year. The proposed tax levy that is given preliminary approval may be <br />lowered but cannot be increased. Therefore, it is important that the proposed tax levy provides <br />adequate revenues to finance the 2025 Budget. The City Council needs to decide the maximum <br />levy that it is willing to approve and then adopt the attached resolution. <br />There will be another budget workshop in November. The City will hold its Truth and Taxation <br />Hearing and set the final tax levy at the December 9, 2024 City Council meeting. <br />A budget workshop was held with the Council on September 9, 2024. Staff was directed to <br />incorporate additional changes to the preliminary levy. Below are changes made to the preliminary <br />budget based on Council direction: <br />• Removal of Permit Software Conversion — ($60,000) <br />• Reduction in Street Maintenance Program — ($52,500) <br />• Public Works Staffing Changes — $115,624 <br />o Public Works Leads, effective l/l/2025 (Q1) <br />o Parks & Recreation Manager, effective 4/1/2025 (Q2) <br />• Reduction to the Equipment/Building Replacement Levy— ($110,000) <br />Page 1 of 6 <br />