The Lake City Council approved a proposed $2.5 million budget for Fiscal Year (FY) 2021 at their meeting earlier this week. The council did not receive any written or verbal comments prior to or during Monday’s public hearing and directed Administrator, Eric Wood, to file the certified budget with the Iowa Department of Management after unanimously voting to adopt it. Total revenues and total expenditures are estimated at $2.5 million with the proposed residential property tax levy decreasing by $1.27 to $21.05 per $1,000 of taxable valuation.