Title
Discussion of Proposed Tentative Financial and Operating Plan for FY 2006-2007 (NB)
Staff will present proposed cuts to previously proposed FY 2007 budget to accommodate City Commission's request to reduce the proposed millage rate to 4.9000.
Explanation
The City Commission on July 24, 2006 adopted Resolution 060271 approving a tentative proposed budget for FY 2006-2007. As part of its discussion, the City Commission instructed staff to determine what further budget reductions could be made to reduce the millage rate from the originally proposed 4.9250 mills to 4.9000 mills.
Fiscal Note
The revenue reduction associated with a millage rate decrease from 4.9250 to 4.9000 equals $121,559.
Recommendation
The City Commission hear staff's presentation and take appropriate action.