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Department Approval <br />�. �: � <br />Item Description: <br />�� <br />.r- <br />REQUEST FOR COUNCIL ACTION <br />Adopt a Fina12016 Tax Levy and Budget <br />Date: 12/07/2015 <br />Item No.: 13.a <br />City Manager Approval <br />BACKGROUND <br />State Statute requires all cities in excess of 2,500 in population, to adopt a preliminary tax levy and <br />budget by December 30th for the upcoming fiscal year. The final levy amount must not exceed the <br />preliminary levy that was established in September. However, the Council has discretion in modifying <br />the budget at any time. <br />At the September 14, 2015 City Council meeting, the Council adopted a 2016 preliminary, not-to- <br />exceed tax levy and budget. A summary is presented below. <br />2016 Tax Levy & Levy Impact <br />The 2016 preliminary tax levy is $18,944,720, an increase of $667,818 or 3.65%. A summary of the <br />�� increase is shown in the table below. <br />2015 Tarc Levy <br />2016 Levy Reductions <br />Supplies, materials, contractual services <br />Personnel-related costs <br />Debt Service <br />Change in non-levy revenue sources <br />Total Levy Reductions <br />2016 Levy Additions <br />Supplies, inaterials, contractual services <br />Employee cost-of-living-adjustment <br />Employee wage step increases <br />Employee position changes/reorg. <br />Insurance & pension increases <br />Capital replacements <br />Net Levy Change <br />2016 Tarc Levy <br />$ 18,276,902 <br />$ (229,845) <br />(313,000) <br />(150,000) <br />(89,925) <br />$ (782,770) <br />$ <br />Total Levy Addirions $ <br />$ <br />381,710 <br />175,000 <br />106,463 <br />326,215 <br />63,200 <br />398,000 <br />1,450,588 <br />667,818 <br />$ 18,94�4,'720 <br />%Increase 3.65% <br />Page 1 of 9 <br />