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<br /> <br /> <br /> <br /> <br />Memorandum <br /> <br /> <br />Date: December 11, 2019 <br /> <br />To: Honorable Mayor and City Council Members <br /> <br />Through: Mark R. Statz, City Administrator/City Engineer <br /> <br />From: Bruce DeJong, Finance Director <br /> <br />Item: 2020 General Fund Budget and Tax Levy Adoption <br /> <br /> <br />City staff has discussed the General Fund budget for 2020 with the City Council since <br />July. With the advice of City Council members, we have made many changes to the <br />preliminary draft. We last discussed the budget and tax levy on November 13, at which <br />several significant changes from the preliminary budget were made. Those changes to the <br />budget will be highlighted in the following sections. <br /> <br />General Fund Revenues <br /> <br />The property tax levy was reduced by this amount to offset the effect of the other listed <br />changes. <br /> <br />Building Permits - +$15,000 <br />Staff believes there is a sound basis to increase the building permit revenues by $15,000 <br />to $140,000. This level is reasonable based on the developments in process, including <br />the mini storage facility for 2020. <br /> <br />General Fund Expenditures <br />This budget was reduced based on previous year experience. <br /> <br />Transfers Out - $16,625) <br />The preliminary budget included this amount to pay for interest on the loan from the <br />Sewer Fund to the Park Dedication fund since the park dedication fees have been less <br />than needed. Council action in October made this unnecessary, so it has been removed. <br /> <br />26 <br /> <br />