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���� <br />Memo <br />To: <br />From: <br />Mayor and City Council <br />Neal Beets, City Manager <br />Chris Miller, Finance Direct '� <br />Date: May 17,2004 <br />Re: Discussion on the 2005 Budget Goals, Process, and Timeline <br />Date: OS/17/04 <br />Item: 8. <br />2005 Budget Goals <br />Introduction <br />The City's budget provides the framework from which all city operations are carried out. <br />Formulating the budget involves a comprehensive process that spans several months, leading up <br />to the submission of a preliminary budget in July for Council consideration. Given the <br />complexity and critical nature of the budget, and in an effort to meet statutorial deadlines, it is <br />important for the Council to begin preliminary budget deliberations soon. <br />Staff is seel�ing Council direction on the 2005 Budget goals, objectives, and spending priorities. <br />In addition, Staff is seel�ing direction with respect to the budget process itself. <br />2005 Budget Goals and Objectives <br />For information purposes, a summary of the current and previous year's tax levy is shown in the <br />table below. <br />As is shown above, the current tax levy is $9,760,674, an increase of $932,790 from the previous <br />year. The increase was directly attributable to the voter-approved expansion of the City Hall and <br />Public Works facilities. All other tax-supportedpro�rams were held to a zero-lew increase. <br />