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IREQUEST FOR COUNCIL ACTION Date: 11/13/89 <br />X% <br />1tem Description.,* Proposed 1990 Rudge-Q <br />The Piropolsed City Budget for 1990 was introduced for public <br />0 0 <br />inspection at the August 281, 1989 meeting. <br />Rollowing is, a brief' overview of' the 1990 Budget. <br />illillilillillillilliilill 1111111liq <br />all <br />0 9 <br />The total budget for 9�O is $18,231,1928* This is an increase of <br />$1,687.7,14 or 10,20% over the 1989 budget. Tax levy requirements <br />to finance this 'budget are $6,306,793. This levy includes a <br />decrease of $2,12,i72,0 or 4.12% less than in 1989 plus an 'increase <br />of' $1,3165,062 for the shift of State Aid from the City to the <br />School, Districts, <br />a <br />Based on preliminary Estimated Market ValuatiLons and levy limita- <br />tions, the estimated 199O Tax Capaciffity Rate without the shloft of <br />State Aid is 1,0.9% a,s compared to 11,,014% in 1989. With the <br />I <br />exchange of' State Aid to the Sch,oliols for levy value, the Esti- <br />mateld Tax Capacity Rate will be 14.3%. <br />10:01 11 ift <br />The City, as do, all, ta,xi,ng Jurisdictions, must establish a formal <br />41 <br />hearing date prior to establishing the final levy. The City has <br />a <br />belen as�signed the diate of December 18, 1989 at 7*30 PaMs if <br />a <br />additional time is needed, the hearing will be reconvened on <br />December 271, 1989 at, 7:30 Pi.M. in <br />r' Chambers. <br />r <br />fill) PJ <br />11 <br />4i. Motion establJ-shing the Public Hearing on December 18, 1989, <br />at 7:30, P.m. in the Coluncil Chamgiers,, and if necessary to be <br />recionvened on December 27, 1989, at the same time and place. <br />