Discussion and Update of 2021 Budget/Levy 

Purpose:  To determine a final budget and levy for adoption at the December 8, 2020 City Council meeting.

Background:  The preliminary budget and levy was adopted at the regular City Council meeting of September 22, 2020.  The preliminary levy adopted was $13,133,676 or a 4.99% increase over the 2020 adopted levy of $12,509,232.

Since the September 22 adoption, the city has received its preliminary tax capacity rate from the County 39.381% (previously estimated at 39.571%).

For the November 24 work session the 2021 budget and levy have been amended to reflect the following:

1. $40,000 reduction in interest on internal loan for PW Campus.  Internal Loan has been removed
2. $42,602 in debt service levy for PW Campus due to decreased construction costs

The above reflected a net decrease in levy of $82,602 or a new revised levy amount of $13,051,074 or a 4.33% increase over 2020 and a proposed tax capacity rate of 39.132%.

No further changes have been made to Personnel Costs as union contracts are still in negotiation.

The following attachments are presented for review of the 2021 budget & levy:

1. Tax Capacity Rate Calculation
2. 2021 Personnel Requests
3. 2021 Capital Requests
4. 2021 Proposed General Fund Budget updated to reflect reductions noted above
5. 2021 Proposed EDA Budget

30 minutes

Finance Director

Determine a final 2021 Property Tax Levy and 2021 General Fund Budget.