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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: September 24, 2007 <br />Requested By: Michael Dolby, CPA ~ <br /> <br />Appropriation <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 />Amount Requested: N/A <br /> <br />Exhibits: <br /> <br />Exhibits: <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The Fiscal Year 2007-08 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 = .611 cents per hundred dollar valuation <br /> <br />Debt Service = .099 cents per hundred dollar valuation <br /> <br />The tax rate of. 71 cents is the same rate that has been adopted for the last nineteen years. <br /> <br />The Effective Tax Rate = .742 cents per hundred dollar valuation, which is the maximum rate without <br />advertisements and a public hearing. <br /> <br />Action Required bv Council: <br /> <br />Approve Ordinance establishing the tax rate for Fiscal Year 2007-08 at 71 cents per hundred dollar <br />valuation. <br /> <br /> <br />enda <br /> <br />f//;t/b7 <br />Date (I <br />