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City of Missoula, Montana Item to be Referred to City Council Committee Committee: Budget Committee of the Whole Item: Set a Public Hearing to Adopt the Preliminary Budget for FY 2011 Date: May 5, 2010 Prepared by: Brentt Ramharter Initiated by: Brentt Ramharter Action Required: Need a motion to set a public hearing to adopt the FY 2011 Preliminary Budget. Recommended Motion: Move to set a public hearing for June 7th, 2010 to approve the preliminary annual appropriations and the capital improvements program for the City of Missoula as set forth in the preliminary fiscal year 2011 budget. Timeline: Referral to committee: May 5, 2010 Committee discussion: May 26, 2010 Public Hearing: June 7th, 2010 ( to be held open until final budget adopted) Deadline: Approval from Council needed by the end of June. Background and Alternatives Explored: Pursuant to State law, the Finance Officer under the direction of the Mayor annually prepares a preliminary budget that is submitted to the City Council for consideration and adoption. Due to the statutory time delay whereby a municipal budget is not statutorily adopted until several months after the fiscal year commences it is important that the Missoula City Council authorize the Mayor of the City of Missoula to incur ongoing baseline expenditures (no new requests) prior to the adoption of the Final Fiscal Year 2011 Budget and that the city continue to operate at a baseline level such that employees and baseline operating costs are paid until the final budget is approved once taxable value numbers are available and tax levies can be set by the council. Financial Implications: The city needs to approve the preliminary budget to operate at a baseline level until tax levies can be set later in the summer, as the city will not likely receive certified taxable values from the State until late August. Attachments: