Laserfiche WebLink
• • <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br />AGENDA DATE REQUESTED September 14, 1992 <br />REQUESTED BY Jeff Litchfield DEPARTMENT Director of Finance <br />REPORT RESOLUTION X ORDINANCE <br />EXHIBITS: Ordinance <br />SUMMARY AND RECOMMENDATION <br />The Fiscal Year 1992-93 Budget was built around a tax rate of .71 cents per <br />hundred dollar valuation. <br />A breakdown of the tax rate is as follows: <br />General Fund = .505 per hundred dollar valuation <br />Debt Service = .205 per hundred dollar valuation <br />The effective tax rate for the new year is .8445 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 16g. This is the <br />third year in a row that the City has been able to adopt a tax rate that is <br />below the effective rate. <br />ACTION REQUIRED BY COUNCIL: <br />Approve Ordinance establishing the tax rate for Fiscal Year 1992-93 at .71 <br />cents per hundred dollar valuation. <br />AVAILABILITY OF FUNDS: <br />GENERAL FUND <br />UTILITY FUND <br />OTHER <br />ACCOUNT NUMBER: N/A FUNDS AVAILABLE <br />APPROVED FOR CITY COUNCIL AGENDA <br />ROBERT T HERRERA <br />CITY MANAGER <br />YES NO <br />~ -~- ~z <br />DATE <br />