Workshop Item: - Joe Huss, Finance Director
Title
2020 BUDGET UPDATE - INITIAL FINANCE REVIEW
Background
At the July 15 workshop, staff will present for Council review and discussion an overview of the 2020 General Fund Budget that incorporates initial departmental requests.
At the budget workshop of June 10, staff presented Council with a quick overview of department head requests and confirmed the Council’s direction to begin 2020 budget planning under the assumption that the overall combined tax levy for the City and EDA will match that of the 2019 overall tax rate for the City and EDA.
As of July 10, after preliminary Finance review, with allocation of the 2019 preliminary levy based on the most recent Anoka County valuation data, the General Fund Budget will have a safe margin of revenue over expenditures as defined by the City Charter. Staff is seeking Council direction on the tax levy relative to other funds that receive property tax revenue.
At this point the 2020 Preliminary Budget is under City Manager review. It is expected that the City Manager’s recommended 2020 General Fund Budget will be reviewed with Council at the August 12 Workshop. As part of the review process, staff will be reviewing division level responsibilities and identifying programs and activities that fall within the City’s strategic plan and are relative to the City’s five-year budget model.
Recommendation
Upon review of its current status, staff is seeking Council comment and direction on the 2020 preliminary budget.