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85 levels will be at year-end. With regard to the monies held in the Cash Reserve Fund, the <br />86 City Council can determine whether they want to redeploy the funds for budgetary <br />87 purposes or retain them for other priorities and service delivery. <br />88 <br />89 Budget Document Changes <br />th <br />90 At the February 12 Council meeting, staff reviewed the 2024 budget process and <br />91 documentation. Based on the feedback, the budget worksheets will be modified to provide <br />92 more breakdown of "other services". The budget information will now show the following <br />93 categories under expenditures: <br />94 <br />95 Personnel Services <br />96 Supplies and Materials <br />97 Utilities <br />98 Contractural Services <br />99 Other Charges <br />100 Capital Outlay <br />101 Debt Service <br />102 <br />103 The City Manager's Budget Presentation will include several new charts comparing the <br />104 proposed monthly costs for city taxes and charges for the median valued home over the <br />105 last several years. <br />106 <br />107 Policy Objectives <br />108 Establishing City Council budgetary goals fosters greater community awareness and <br />109 understanding of the financial commitments necessary to provide programs and services. It <br />110 also lays the foundation for the creation of a City Manager Recommended Budget. <br />111 <br />112 Racial Equity Impact Summary <br />113 Generally speaking, the city’s budget will provide funding for equity initiatives that will <br />114 impact the organization and the community. These specific impacts will be discussed in <br />115 the future as the 2025 budget is presented. <br />116 <br />117 Budget Implications <br />118 Not applicable. <br />119 <br />120 Staff Recommendations <br />121 Not applicable. <br />122 <br />123 Requested Council Action <br />124 Staff is seeking comment and guidance on the preparation of the 2025 budget including <br />125 City Council goals and objectives for the 2025 Budget and Tax Levy. <br />126 <br />127 <br />Michelle Pietrick, Finance Director <br />Prepared by: <br />None <br />Attachments: <br />128 <br />Page 4 of 4 <br />Qbhf!22:!pg!331 <br /> <br />