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NEW BUSINESS - H <br />MEMORANDUM <br />Date: December 16, 2008 <br />To: City Council <br />From: Jessie Hart, Treasurer <br />Re: 2009 Preliminary Budget and Levy — Presentation & Adoption <br />1 have prepared a power point presentation for the City Council meeting that reviews the <br />Proposed 2009 Budget and Tax Levy. This presentation is based on the work sessions <br />and other budget meetings that the City Council has participated in. <br />A brief review of the results of these meetings: <br />2009 Proposed Final Tax Levy — Total proposed $443,289 which is a 1.238% decrease <br />from 2008 and includes $420,089 in operating levy and $23,200 for the debt levy on <br />Heritage Hall. <br />2009 Projected Tax Capacity Rate — Projected to be 35.5788% which is a decrease of <br />7.816% from the 2008 actual tax capacity rate. <br />2009 Proposed General Fund Budget — Total proposed is $481,470 which is a 6.35°/0. <br />increase over the 2008 Adopted General Fund Budget. The 2009 budget includes <br />funding for changes as a result of the comprehensive plan, the 2 d year $25,000 transfer <br />to the Sewer Fund, and a $30,000 transfer to the City Hall Construction Fund to cover <br />the remaining deficit. <br />Attached to this memorandum are the summary pages from the proposed 2009 budget <br />document and includes all fund types fora total 2009 Proposed City of Gem Lake <br />Budget of $711,177. <br />Upon completion of the presentation and questions the action requested is to adopt <br />Resolution #2008-13 A RESOLUTION ADOPTING THE FINAL GENERAL FUND <br />BUDGET AND FINAL AMOUNT TO BE RAISED BY PROPERTY TAXATION FOR THE <br />YEAR 2009.as presented or with recommended revisions by the City Council. <br />39 <br />