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Finance committee sets March 3 workshop to finalize budget before state deadline
Summary
Committee agreed to recommend a March 3, 5:30 p.m., budget workshop to give council time to review preliminary budget numbers before the state auditor deadline and discussed levy-setting rules that can trigger a public hearing.
The finance committee recommended a budget workshop for March 3 at 5:30 p.m. to give council members an opportunity to review preliminary budget estimates before the March 28 state-auditor deadline. Chair (S2) led the scheduling discussion after Finance Director (S1) outlined the auditor calendar and the timing council needs to meet.
S1 told the committee that the council must approve the budget at the council meeting that allows the finance office to send the documents to the state auditor for review before March 28. "They review it, send it back to us with comments, approve it, whatever it is, and then we, make the necessary adjustments if needed and bring it before council again on the 3rd Tuesday in April," S1 said. Members discussed the ad valorem growth rule and its 1% natural increase, noting that revenue growth above that threshold can require a published public hearing and additional scheduling steps. Committee members agreed to forward a recommendation for the March 3 workshop and to advertise as necessary to preserve the council's options.
