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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: September 13,2010 <br /> <br />Appropriation <br /> <br />Requested By: Michael G. 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 2010-11 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 = .605 cents per hundred dollar valuation <br /> <br />Debt Service = .105 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-two years. <br /> <br />The Effective Tax Rate = 0.758 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 /> <br />dinance establishing the tax rate for Fiscal Year 2010-11 at 71 cents per hundred dollar <br /> <br />~/~ <br /> <br />Date <br />