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49 levy support for capital improvement funds will also be included in the 2025 budget. <br />50 <br />51 The City Manager is meeting with each department to review their specific budget needs <br />52 and will be focusing on refining those requests into his proposed budget which will be <br />53 presented to the City Council on August 19, 2024. <br />54 <br />55 In addition to tax levy impacts noted above, continued emphasis on our water, sanitary <br />56 sewer, and storm sewer infrastructure replacement programs is expected to drive utility rate <br />57 increases for 2025 as well. Ehlers is working on an update to the City's utility rate study <br />58 which will be presented this fall. More specific information regarding budgetary impacts will <br />59 be addressed with the release of the 2025 City Manager Recommended Budget in August <br />60 and the utility rates later this fall. <br />61 <br />62 The City Council is asked to provide its goals & objectives for the 2025 Budget and Tax <br />63 Levy. This is a critical step in the budget process as it will be used to guide the City <br />64 Manager's Recommended Budget and will ensure more clear and timely communications <br />65 with citizens and other property taxpayers. <br />66 <br />67 While these goals and objectives can be fairly broad in scope and still remain purposeful, <br />68 the following factors may help the City Council establish a more defined direction: <br />69 The desire for changes in programs or service levels (e.g.. are the condition of city <br />70 streets or public safety-related services acceptable?) <br />71 The need to establish new programs or initiatives ( e.g.. are there any unmet needs <br />72 that should be addressed?) <br />73 The acceptable level of property tax and fee impacts on homeowners (e.g.. given the <br />74 programs and services we aspire to, is the associated burden on homeowners <br />75 acceptable?) <br />76 <br />77 Finally, Staff will remind the Council of the status of the unrestricted cash reserve levels in <br />78 the City’s discretionary operating funds as of 12/31/23, including the transfers of ‘excess <br />79 cash’ into the established Cash Reserve Fund. <br />80 <br />81 <br />82 <br />83 The Council is reminded that the cash reserve levels depicted above represent a snapshot <br />84 in time and are fluctuating on a daily basis. They are not an indication of what our reserve <br />Page 3 of 4 <br />Qbhf!229!pg!331 <br /> <br />