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<br />WS – Item 15 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 15 <br /> <br /> <br />Date: December 4, 2017 <br /> <br />To: City Council <br /> <br />From: Sarah Cotton, Finance Director <br /> <br />Re: 2018 Budget & Levy <br /> <br /> <br />Background <br /> <br />Transmitted for your review and discussion is the final draft of the 2018 Budget and <br />Levy. The current proposed levy of $9,776,732 is estimated to result in a city tax rate of <br />42.756%. <br /> <br />The current 2018 Budget includes $100,000 for park & trail improvements. During the <br />September 5th and November 6th work sessions, Council discussed potential uses for an <br />estimated $300,000 in 2017 budget surplus. The council agreed that $90,000 of the <br />surplus should be utilized to replace two air conditioning units at the Civic Complex. <br />This leaves approximately $210,000 in 2017 budget surplus. At the November 6th work <br />session, Council directed staff to prepare a comprehensive park and trail repair or <br />replacement plan for council consideration at the December 4, 2017, work session. <br />Worksheets supporting this request are attached. <br /> <br />Staff is seeking Council direction regarding any final additions or modifications to the <br />2018 Budget. The City of Lino Lakes will hold a public hearing on Monday, December <br />11, 2017 at 6:30 p.m. during the regularly scheduled City Council meeting, with the final <br />adoption of the 2017/2018 tax levy and 2018 operating budget anticipated immediately <br />following the hearing. <br /> <br />Attachments <br /> <br />Park & Trail Asset Worksheets <br />2018 Proposed Budget & Tax Levy <br /> <br /> <br /> <br /> <br />