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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report
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12/31/2014
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Profile of the Government <br />The City of Lino Lakes, incorporated in 1955, is a growing community in the southeast corner of the County of <br />Anoka. It covers an area of 33 square miles and has a population of approximately 20,700. The population has <br />more than doubled from the 1990 census figure of 8,807 and has grown by 23% since 2000. Within the City's <br />borders lies the 2,550 acre Rice Creek Chain of Lakes Regional Park. Access to St. Paul and Minneapolis is <br />provided by I -35W and 1-35E. <br />The City Charter, as amended, establishes a mayor -council form of government and grants the city council full <br />policy-making and legislative authority to the mayor and four council members. The City council is responsible, <br />among other things, for passing ordinances, adopting the budget, appointing committees, and hiring a City <br />administrator. The City administrator has the responsibility of carrying out the policies and ordinances of the City <br />council, for overseeing the day-to-day operation of the city. The City council is elected at -large on a non-partisan <br />basis, with council members serving four-year terms and the mayor serving a two-year term. Elections are held <br />every two years with two council seats and the mayor being up for election each election cycle. <br />The City provides a full range of municipal services. These services include: general government, public safety <br />(police and fire), public works (streets and fleet), parks and recreation, conservation of natural resources <br />(environmental and solid waste abatement), public improvements, providing and maintaining sanitary and storm <br />sewer, water infrastructure, and two enterprise funds, the water and sewer funds. <br />The annual budget is the foundation for the City of Lino Lakes' financial planning and control. All divisions are <br />required to submit appropriations requests to the City administrator for review and consolidation into a proposed <br />budget. The City administrator is responsible for submitting the proposed annual budget to the City Council in <br />August of each year. The city council is required to hold a public hearing on the proposed budget and to adopt by <br />resolution a final budget and certify it no later than December 28. The budget amounts cannot increase beyond the <br />estimated receipts except to the extent that actual receipts exceed the estimate. Division directors may make <br />transfers of appropriations within a department, but transfers of appropriations between departments require <br />council approval. Budget -to -actual comparisons for the general fund and the recreation program fund, the only <br />funds for which an annual budget has been adopted, are provided in this report beginning on pages 60 and 84, <br />respectively. <br />Factors Affecting Financial Condition <br />The information presented in the financial statements is perhaps best understood when it is considered from the <br />broader perspective of the specific environment within which the City of Lino Lakes operates. <br />Local economy. The economic development effort established by the City Council in 1993 increased the <br />commercial/industrial tax base in the City from 3% of the total tax base to 9% in 2011. Development of three <br />industrial parks - Apollo Business Park on 35W, Marshan Industrial Park on Lake Drive, and the Clearwater <br />Creek Development Center on 35E, provided excellent opportunities for manufacturing and distribution <br />businesses to move their headquarters to Lino Lakes. Before the recession began in late 2007 the Lino Lakes <br />Town Center, comprising approximately 200 acres surrounding the 35W/Lake Drive interchange, was developing <br />at a rapid pace. SuperTarget and Kohl's anchor the shopping center quadrant, while Apollo Business Park brought <br />approximately 1,000 new employees to the area. Land was purchased by Anoka County on a third quadrant for <br />future development of a regional library. Due to economic conditions, the County has pushed back construction of <br />the library to 2018. <br />
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