Laserfiche WebLink
<br />WS – Item 1 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 1 <br /> <br /> <br />Date: February 6, 2023 <br /> <br />To: City Council <br /> <br />From: Hannah Lynch, Finance Director <br /> <br />Re: Draft 2023-2027 Financial Plan <br /> <br />Background <br />The Draft 2023-2027 Financial Plan is attached for Council’s review. The Plan was <br />prepared by staff in compliance to and in accordance with the Lino Lakes City Charter <br />Section 7.05. The Transmittal Letter on page 3 gives a full overview of the Plan. The <br />Financial Section of the Plan focuses on all city funds, while the Capital Improvement <br />Program (including Appendix A & B) focuses on the capital project and enterprise funds. <br />The Project Detail in Appendix A appears in the following order: <br />1. Project Type <br />2. Project Year <br />3. Project Name <br />There are two specific programs within the Capital Improvement Program, Community <br />Development and Citywide. Community Development projects are individually approved <br />by Council through the competitive bidding process while Citywide projects are <br />approved as part of the budgeting process. Citywide 2023 projects were already approved <br />by Council on December 12, 2022 except for the following: <br />• Balance Air Handlers (Project #CW-96) <br />• Public Works Facility (Project #CW-225) design for $350,000 in 2023 <br />Staff will be looking for direction/approval on those specific projects at a future city <br />council meeting. Aside from those projects, staff is presenting and looking to have the <br />2023-2027 Financial Plan adopted as a guide. <br /> <br />Requested Council Direction <br /> <br />Staff will give a brief presentation and will be prepared to discuss the Plan. Per the Lino <br />Lakes City Charter, the City Council shall hold a public hearing on the five-year financial <br />plan and adopt it by resolution. <br /> <br />Attachments <br /> <br />Draft 2023-2027 Financial Plan