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<br />REQUEST FOR COUNCIL ACTION <br />Date: 8/19/2024 <br />Item No.: 7.d. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Receive the 2025 City Manager Recommended Budget and Tax Levy <br />1 <br />2 Background <br />3 At the February 12, 2024, City Council meeting, the Council established a general timeline for the 2025 <br />4 budget process including the following key dates: <br />5 <br />6 <br />7 <br />8 To date, the Council has received a number of budget information packages and has held several <br />9 discussions on city priorities, service levels, legislative impacts and the 2025-2044 Capital Improvement <br />10 Plan. These discussions and the resulting Council guidance have been incorporated into the 2025 City <br />11 Manager Recommended Budget & Tax Levy presented below. <br />12 <br />13 2025 City Manager Recommended Budget <br />14 The 2025 City Recommended Budget is $73,410,845, which is an increase of $3,266,494 or 4.66%. As <br />15 part of the overall budget, the City Manager is recommending a tax levy increase of $1,488,323 or <br />16 5.17% over the current levy. The City Manager has prepared a separate memo with detailed information <br />17 regarding these proposed amounts. The memo is included in Attachment 1, and is accompanied by a <br />18 PowerPoint presentation (see Attachment 2). <br />19 <br />20 Attachment 3 shows the citywide budget by fund in audit format, including the EDA. The combined City <br />Page 1 of 2 <br />Qbhf!221!pg!417 <br /> <br />