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City Council Regular Meeting —12/OS/OS DRAFT Minutes - Page 2 Jane Nelson and David Krey; with the Scouts leading the City Council and audience in the Pledge of Allegiance. Truth in Taxation Hearing Truth in Taxation Mayor Klausing called the Truth in Taxation (TNT) Public Hearing Hearing to order at 6:07 p.m. 6;00 p.m. Finance Director Chris Miller provided an overview of the 2006 budget process; and the status of the 2006 City Budget and Tax Levy at this time. City Department Heads were present to answer questions of the public as appropriate. Mr. Miller outlined the purpose of the TNT Hearing: to present an overview of the City's spending plan for the upcoming year; establish the need for a property tax levy; summarize the tax impact to property owners; and allow comments and suggestions from the general public. Mr. Miller highlighted several areas, including preservation of existing service levels; initiation of no new programs or services; and continued and scheduled replacement of the City's street and utility infrastructures. Mr. Miller further reviewed various impacts to the proposed budget: inflation between 3-4%; non-tax stagnant revenues for Police, Fire and Public Works; $800,000 in new spending obligations in the tax-supported funds (z.e., Police, Parks & Recreation, Fire and Public Works). Mr. Miller reviewed tax-supported and non-tax-supported functions; funding sources and categories. Councilmember Schroeder arrived at 6:10 p.m. Mr. Miller presented the proposed 2006 General Fund tax Levy and 2006 proposed Budget as preliminarily set and amended by the City Council; proposed at $33,292,385, with tax-supported funds of $15,Q39.370 based on an increase in tax-supported funds of $ S 1$,105, or an increase of 5.8%. Mr. Miller noted that the proposed 2006 Levy was $11,435,165, representing an increase of $797,200, or 7.5%. Mr. Miller reviewed the factors attributable to the Levy increase (z.e., general inflation; employee wage steps; Police dispatch, 800 MHz, and records managements system; recreation facilities; and other miscellaneous items).