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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />AGENDA DATE REQUESTED September 24. 1990 <br /> <br />REQUESTED BY Jeff Litchfield <br /> <br />DEPARTMENT Director of Finance <br /> <br />REPORT <br /> <br />RESOLUTION <br /> <br />x <br /> <br />ORDINANCE <br /> <br />EXHIBITS: Ordinance 1721 <br /> <br />SUMMARY AND RECOMMENDATION <br /> <br />On September 10, 1990, the City Council approved the fiscal year 1990-91 <br />Budget. The budget was built around a tax rate of .71 cents per hundred <br />dollar valuation. <br /> <br />A breakdown of the tax rate is as follows: <br /> <br />General Fund <br /> <br />.5048 per hundred dollar valuation <br /> <br />Debt Service <br /> <br />.2052 per hundred dollar valuation <br /> <br />The effective tax rate for the new year is .7318 cents per hundred dollar <br />valuation. The proposed rate for the new year of .71 cents per hundred dollar <br />valuation represents a decrease from the effective rate of 3.1%. <br /> <br />ACTION REQUIRED BY COUNCIL: <br /> <br />Approve Ordinance 1721 establishing the tax rate for Fiscal Year 1990-91 at <br />.71 cents per hundred dollar valuation. <br /> <br />AVAILABILITY OF FUNDS: <br /> <br />GENERAL FUND <br /> <br />UTILITY FUND <br /> <br />OTHER <br /> <br />ACCOUNT NUMBER: N/A <br /> <br />FUNDS AVAILABLE: <br /> <br />YES <br /> <br />NO <br /> <br />APPROVED FOR CITY COUNCIL AGENDA <br /> <br />~,~~ <br /> <br />ROBERT T HERRERA <br />CITY MANAGER <br /> <br />q ~ 'a> ~tf)) <br />DATE <br />