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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: August 28, 2006 <br /> <br />Appropriation <br /> <br />Requested By: Cynthia Pearson <br /> <br />Source of Funds: N/A <br /> <br />Department: Finance <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />xx <br /> <br />Amount Budgeted: N/A <br /> <br />Exhibits: <br /> <br />Amount Requested: N/A <br /> <br />Exhibits: <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The Fiscal Year 2005-06 Budget was built around a tax rate of 71 cents per hundred dollar valuation. <br /> <br />A breakdown of the tax rate is as follows: <br /> <br />General Fund = .61 cents per hundred dollar valuation <br /> <br />Debt Service = .09 cents per hundred dollar valuation <br /> <br />The tax rate of 71 cents is the same rate that has been adopted for the last seventeen years. <br /> <br />The Effective Tax Rate = .L cents per hundred dollar valuation, which is the maximum rate without <br />advertisements and a public hearing. <br /> <br />The amount of revenue generated for the General Fund is $ 10, 'S d Y I :) \ i. This is $ <br />than what was budgeted; the amount in property tax reserve is $ <br /> <br />less <br /> <br />*- r\ Dt aD a '( I ~ ~ ( ~ <br /> <br />~&-Yvt <br /> <br />~-citD <br /> <br />Action Required bv Council: <br /> <br />Approve Ordinance establishing the tax rate for Fiscal Year 2006-07 at 71 cents per hundred dollar <br />valuation. <br /> <br />Approved for City Council Ae:enda <br /> <br /> <br />,-------- <br /> <br />9 r d3-()~ <br /> <br />Date <br />