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<br /> <br />REQUEST FOR COUNCIL ACTION <br />Date: 9/16/2024 <br />Item No.: 7.b. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Receive Finance Commission recommendations on the 2025 City Manager <br />budget, tax levy and 2025-2044 CIP <br />1 <br />2 Background <br />3 The Finance Commission reviewed the 2025-2044 Capital Improvement Plan and the 2025 <br />4 City Manager recommended budget & tax levy at their meetings over the past few <br />5 months. The Commission’s findings and recommendations are highlighted below. <br />6 <br />7 2025 City Manager Recommended Budget & Tax Levy <br />8 The Commission reviewed the 2025 City Manager Recommended Budget & Tax Levy at <br />9 their August and September meetings. The Finance Commission made a recommendation <br />10 to support the City Manager's recommended budget and levy increase of 5.17%. <br />11 <br />12 2025-2044 Capital Improvement Plan and Funding Strategies <br />13 The Finance Commission had a discussion on the 2025-2044 Capital Improvement Plan <br />14(CIP) at their July, August and September meetings. The Finance Commission <br />15 recommended support of the 2025-2044 CIP, including potential debt issuance for long- <br />16 term vehicles due for replacement in the next two to three2-3 years. <br />17 <br />18 Bruce Bester, Chair of the Finance Commission, will be in attendance at the meeting to <br />19 present the Commission’s recommendations on the 2025 Preliminary Budget and Tax Levy <br />20 and the 2025-2044 Capital Improvement Plan. <br />21 <br />22 Policy Objectives <br />23 See above. <br />24 <br />25 Equity Impact Summary <br />26 There is no equity impact. <br />27 <br />28 Budget Implications <br />29 Not applicable. <br />30 <br />31 Staff Recommendations <br />32 Receive the Finance Commission recommendations <br />33 <br />34 Requested Council Action <br />Page 1 of 2 <br />Qbhf!29!pg!38 <br /> <br />