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Comprehensive Annual Financial Report 12/31/2019
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Comprehensive Annual Financial Report 12/31/2019
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Audit Report 12/31/2019
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<br /> <br />Profile of the Government <br />The City of Lino Lakes, incorporated in 1955, is a growing community in the southeast corner of the County <br />of Anoka. It covers an area of 33 square miles and has a population of approximately 21,700. The population <br />has more than doubled from the 1990 census figure of 8,807 and has grown by 28.9% since 2000. Within <br />the City’s borders lies the 2,550 acre Rice Creek Chain of Lakes Regional Park. Access to St. Paul and <br />Minneapolis is provided by I-35W and I-35E. <br /> <br />The City Charter, as amended, establishes a mayor-council form of government and grants the city council <br />full policy-making and legislative authority to the mayor and four council members. The City council is <br />responsible, among other things, for passing ordinances, adopting the budget, appointing committees, and <br />hiring a City administrator. The City administrator has the responsibility of carrying out the policies and <br />ordinances of the City council and for overseeing the day-to-day operations of the city. The City council is <br />elected at-large on a non-partisan basis, with council members serving four-year terms and the mayor <br />serving a two-year term. Elections are held every two years with two council seats and the mayor being up <br />for election each election cycle. <br /> <br />The City provides a full range of municipal services. These services include: general government, public <br />safety (police, fire and building inspections), public services (streets, fleet, parks and recreation), <br />conservation of natural resources (forestry, environmental and solid waste abatement), community <br />development, public improvements, providing and maintaining sanitary and storm sewer, water <br />infrastructure, and two enterprise funds, the water and sewer funds. <br /> <br />The annual budget is the foundation for the City of Lino Lakes’ financial planning and control. All divisions <br />are required to submit appropriations requests to the City administrator for review and consolidation into a <br />proposed budget. The City administrator is responsible for submitting the proposed annual budget to the <br />City Council in August of each year. The city council is required to hold a public hearing on the proposed <br />budget and to adopt by resolution a final budget and certify it no later than December 30. The budget <br />amounts cannot increase beyond the estimated receipts except to the extent that actual receipts exceed the <br />estimate. Division directors may make transfers of appropriations within a department, but transfers of <br />appropriations between departments require council approval. Budget-to-actual comparisons for the general <br />fund and the recreation program fund, the only funds for which an annual budget has been adopted, are <br />provided in Statements 10 and 26, respectively. <br />Factors Affecting Financial Condition <br />The information presented in the financial statements is perhaps best understood when it is considered from <br />the broader perspective of the specific environment within which the City of Lino Lakes operates. <br /> <br />Local economy. Infrastructure investments made by the City in the late 2000’s and early 2010’s in <br />anticipation of a strengthening economy, are leading to continued residential, commercial and industrial <br />growth. Completion of the 35E/CSAH 14 interchange has spurred residential, commercial and industrial <br />development along this corridor. The City’s largest residential development, the 864 lot Watermark project, <br />is currently under construction in the northwest quadrant. The City’s largest industrial user, Distribution <br />Alternatives, expanded into a 402,000 square foot building in 2016. Commercial interest continues to grow <br />with the expansion of the Main Street Shoppes in the northeast quadrant. <br /> <br />The 35E corridor also gained additional attention through a partnership with Anoka and Washington <br />County’s, neighboring cities and Connexus Energy, the Minnesota Technology Corridor. Over 1,000 <br /> <br />4
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