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CITY COUNCIL <br />AGENDA ITEM 2A (ii) <br />STAFF ORIGINATOR: Sarah Cotton <br />MEETING DATE: December 11, 2017 <br />TOPIC: Consider Resolution No. 17-142, Adopting the Final 2018 General <br />Fund Operating Budget <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2017 tax levy, <br />collectible in 2018 on or before December 29, 2017. <br />A public hearing was held tonight to take public comment on the budget. A summary of the <br />proposed budget and tax levy was presented and discussed during the public hearing. <br />The final 2018 budget is balanced with resources and expenditures of $10,946,031, which represents <br />a 6.57% increase from the 2017 adopted budget. The total increase to the base budget of $611,192 <br />includes the following: <br />• Increase in contingencies for unknowns - $50,000 <br />• Increase in pavement management funding - $27,100 <br />• Capital outlay of $17,602 and $25,843 in police and fire, respectively <br />• Park & Trail Management - $500,000 <br />$725,000 of accumulated General Fund Reserves are being used to balance the budget. This <br />maintains the general reserve balance at Council policy level of 50%. <br />The City Council needs to take final action to approve the budget at this time. <br />RECOMMENDATION <br />Staff recommends the approval of Resolution No. 17-142. <br />ATTACHMENTS <br />Resolution No. 17-142, Adopting the Final 2018 General Fund Operating Budget <br />