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REQUEST FOR COUNCIL ACTION <br /> Date:August 10, 2020 <br /> Item No.: 7.c <br />Department Approval City Manager Approval <br /> <br />Item Description:Receive the 2021City Manager Recommended Budget & Tax Levy <br /> <br />1 B ACKGROUND <br />2 At the April 8, 2020City Council meeting, the Council established a general timeline for the 2020budget <br />3 process including the following key dates: <br />4 <br />2021 Budget Process TimelineDate <br />Discussion on Preliminary Cash Reserve Levels3/23/2020 <br />Establish 2021 Budget Process Calendar4/13/2020 <br />Review General Budget & Legislative Impacts, Tax Base Changes7/20/2020 <br />Presentation of the 2021-2040 Capital Improvement Plan7/20/2020 <br />Discussion on City Council Budgetary Goals7/20/2020 <br />EDA Budget & Tax Levy Discussion7/20/2020 <br />Receive the 2021 City Manager Recommended Budget8/10/2020 <br />Receive Budget Recommendations from the Finance Commission9/14/2020 <br />Adopt Preliminary 2021 Budget, Tax Levy, & EDA Levy9/21/2020 <br />Review 2021 Proposed Utility Rates11/9/2020 <br />Review 2021 Fee Schedule \[** NOTE - Prelim. Discussion on 9/21/20\]11/9/2020 <br />Final Budget Hearing (Truth-in-Taxation Hearing)11/23/2020 <br />Adopt Final 2021 EDA Tax Levy12/7/2020 <br />Adopt Final 2021 Budget, Tax Levy, Utility Rates, & Fee Schedule12/7/2020 <br />5 <br />6 <br />7 To date, the Council has received a number of budget information packages and has held several <br />8 discussions on city priorities, service levels, and the associated financial impact on residents. These <br />9 discussions and the resulting Council guidance have been incorporated into the 2021 City Manager <br />10 Recommended Budget & Tax Levy presented below. <br />11 <br />12 2021 City Manager Recommended Budget <br />13 The 2020 citywide Recommended Budget is $63,118,440, an increase of $624,785 or 1%. As part of the <br />14 overall budget, the City Manager is recommending a tax levy increase of $897,089 or 3.96% over the <br />15 current levy. The City Manager has prepared a separate memo with detailed information regarding these <br />16 proposed amounts. The memo is included in AttachmentA, and is accompanied by a PowerPoint <br />17 presentation (see Attachment B). <br />18 <br />19 <br />20 <br />Page 1 of 2 <br /> <br />