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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: September 21, 2009 <br /> <br />Aoorooriation <br /> <br />Requested By: Michael Dolby, CPA <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: Ordinance <br /> <br />Amount Requested: N/ A <br /> <br />Exhibits: Effective Tax Rate Calculation <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The Fiscal Year 2009-10 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 = .601 cents per hundred dollar valuation <br /> <br />Debt Service = .109 cents per hundred dollar valuation <br /> <br />The tax rate of. 71 cents is the same rate that has been adopted for the last twenty years. <br /> <br />The Effective Tax Rate = 0.737 cents per hundred dollar valuation, which is the maximum rate without <br />advertisements and a public hearing. <br /> <br />Action Reauired bv Council: <br /> <br />Approve Ordinance establishing the tax rate for Fiscal Year 2009-10 at 71 cents per hundred dollar <br />valuation. <br /> <br /> <br />fJt/o? <br />Date ' { <br />