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�� � "� �.�� To: Mayor and City Council From: Chris Miller, Interim City Manager �u�` Date: August 28,2006 � Re: Continue Discussions on the 2007 Budget Date: 8/28/06 Item: 12. Continue Discussions 2007 Budget Introduction On July 10,2006, the City Council received the 2007 City Manager RecommendedBudget aln�g with a presentation that included a general summary of the proposed citywide spending plan. This summary was followed by an overview of the Administration and Finance-related budgets. Subsequent Staff presentations were made on August 2�5� and August 28th (earlier in the meeting) which provided a general overview of all other City functions. The City Council is scheduled to adopt the 2007 Preliminary Budget and Tax Levy at the September 11,2006 City Council meeting. Discussion Items In an effort to malce the adoption of the preliminary budget and levy as productive and purposeful as possible, the following discussion points are offered: ❑ The City Manager Recommended Budget calls for an overall increase in the tax levy of 4.5%. � With a levy increase of 4.5%, an averaged-valued home in Roseville will pay $522 annually, or $43.50 per month. This is comparable to what a typical homeowner pays independently for gas, electric, telephone, cable tv, or broadband internet. 0 With a levy increase of 4.5%, an averaged-valued home of $200,000 that experiences a 15% increase in taxable value, will realize an increase of $58 .annually, or $4.83 per month. Some homes in Roseville will experience a smaller increase. The Council is also reminded that once the preliminary budget and levy is adopted, it can be lowered, but ��5� be increased. While City Staff have completed their initial presentations, we expect that you may have additional questions or would lilce additional information. To that end, we are hopeful that the Council can provide us with those requests at today's meeting. As important, the Council should be aware that Staff will be preparing resolutions for Cau��cil adoption in advance of the meeting on September 1 l�'. While Staff will be prepared to worlc quicicly to respond to any final adjustments, the Council is reminded that the process of adopting a preliminary budget does not lend itself well to �ast- minute changes. Any Council direction at today's meeting regarding the preliminary budget and levy is appreciated.