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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: Originating Department: Presented By: Agenda Item No.: <br />3-19-2008 <br />Council Date: City Manager Kevin Carruth 15 <br />3-24-2008 <br />RECOMMENDED MOTION: <br />Motion to delay setting targets for the FY 2008-2009 budget and tax rate until <br />POLICY ISSUE(S~: <br />Budget <br />BACKGROUND: <br />One of the Councils goals and objectives is to provide the City Manager with target for the FY 2008- <br />2009 budget expenditures and tax rate prior to Apri12008. Given the uncertain economic future (and the <br />impact on our sales tax revenue) as well as the almost certain passage of a senior and disabled tax freeze <br />(as proposed by recent petition), any targets for the budget or tax rate will be arbitrary at this time. Staff <br />recommends delaying action until May or June so that we have two-three more months of sales tax <br />information, economic forecasts, and can fully analyze the impact of a senior tax freeze. <br />BOARD/COMMISSION RECOMMENDATION: <br />EXHIBITS: <br />ACTION: BUDGET INFO: <br />^ Financial Report ®Minute Order Expense $ <br />^ Department Report ^ Resolution Budgeted Amt. $ <br />^ Presentation ^ Ordinance yTD Actual $ <br />^ Public Hearing ^ Other Acct. Name <br /> Acct. Number <br />FISCAL NOTES: <br />REVIEWED AND APPROVED BY: <br />® Administration ®City Clerk ^ Community Development ^ EMS/IT ^ Finance ^ Fire <br />^ Municipal Court ^ Legal ^ Library ^ Police ^ Eng./Public Works ^ Utilities <br />City of Paris Revised 2/04/08 <br />