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Director Rancatore explained that Resolution 2023-24 kicks off the budget cycle and is used to <br />demonstrate the need for taxes to be levied. He acknowledged that some assumptions are made <br />in the document which is necessary for the budget commission to have something to refer to. He <br />noted that the city is projecting a balanced budget with all positive fund balances. <br />Director Rancatore displayed Schedules 1 and 2 of the proposed tax budget and explained it to <br />the committee. <br />Motion by Councilmember Shachner to attach Schedules 1 & 2 as exhibits to Resolution 2023- <br />24. <br />Councilmember Bullock made the following proposed amendment to Section 1 of Resolution <br />2023-24: <br />The annual Tax Budget submitted by the Director of Finance of the City of Lakewood, as <br />attached, … <br />And to attach schedules 1 through 4 as exhibits. <br />Motion seconded by Councilmember Shachner. All members in favor. Motion passed. <br />Motion by Councilmember Shachner to recommend Resolution 2023-24 as amended. All <br />members in favor. Motion passed. <br />Finance Committee adjourned at 7:33 p.m. <br />3 <br /> <br />