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Department Approval �. �: � Item Description �� .r- REQUEST FOR COUNCIL ACTION Date: 10/19/15 Item No.: 13.b City Manager Approval Continue Discussions on the 2016 Budget & Tax Levy BACKGROUND � At the April 20, 2015 City Council meeting the Council established a 2016 Budget Calendar which outlined a series of steps to establish an eventual budget. The calendar is as follows: 2016 Budget Calendar Departmental Budget Presentations .............................................................. May 27, June 1, 2015 Discussion on City Council Budget Goals & Priorities ............................................ June 15, 2015 Present the City Manager Recommended Budget ..................................................... July 13, 2015 Present the City Manager Recommended Budget to the Finance Commission ........ July 14, 2015 Preliminary Budget Hearing ................................................................................. August 10, 2015 � Joint Meeting with the Finance Commission/Review CIP Funding Strategies.... August 17, 2015 Adopt the Preliminary Budget ......................................................................... September 14, 2015 - Continue Discussions on the Budget/Review Water & Sewer Fees ....................October 19, 2015 Final Budget Hearing .......................................................................................November 30, 2015 Adopt the 2016 Water & Sewer Rates ............................................................... December 7, 2015 Adopt the 2016 Final Budget ............................................................................. December 7, 2015 The neXt step in the Budget Calendar is to revisit the tax levy and budget discussions to assess whether there is any new information to consider or to identify any issues or concerns that have not yet been addressed. It is suggested that the Council discussion on the Water & Sewer Rates be held in November to allow time far the Public Works Commission to discuss the rates at their October meeting. � It should be noted that Staff will be recommending a change in the rates that results in a 1.5% increase �� for the typical single-family home. The remainder of this Staff Report will focus on the tax levy and budget. Far purposes of discussion, City Staff has prepared the following information which supplements the budget materials that were provided prior to September 14th. They include: 0 Projected 2015 budget savings ❑ 12-month local CPI and ECI indices Each of these items are discussed in greater detail below, along with a brief recap of the preliminary 2016 budget and tax levy adopted on September 14th. Page 1 of 7