Lake City officials have voted in favor of moving forward with a proposed $2.6 million budget for Fiscal Year (FY) 2020. The council received no comment from the public during a hearing last Monday night and approved a motion authorizing City Administrator, Eric Wood, to file the budget with the Calhoun County Auditor’s Office and the Iowa Department of Management. In its current form, it forecasts Lake City will operate with a nearly $300,000 surplus from July 1 of this year to June 30, 2020. Officials anticipate bringing in about $2.6 million in revenue and gauge expenditures to fall somewhere near $2.3 million. The city’s estimated tax levy for FY 2020 is $21.04 per $1,000 of taxable valuation.
