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<br />February 6, 2023 <br /> <br />Honorable Mayor <br />Members of the City Council <br />City of Lino Lakes <br /> <br />Introduction <br />The 2023-2027 Financial Plan (the Plan) has been prepared by Management to give a <br />five-year financial outlook for the City of Lino Lakes, Minnesota (the City). The Plan <br />includes assumptions to project operations, capital, and debt over the next five years to <br />continue to maintain essential services and programs including: <br />• Public safety (police and fire services) <br />• Street maintenance and construction <br />• Park maintenance and improvements <br />• Community and economic development <br />• Rookery Activity Center operations <br />• Capital equipment replacement <br />• Capital infrastructure debt service repayment <br />The Plan is just that, a plan. Adoption of the Plan does not signify approval of the <br />assumptions represented in the following pages. The Plan is intended to be used as a <br />guiding document for decision making. It allows the City to see the bigger picture in <br />order to manage limited resources and achieve its goals. <br /> <br />Key Highlights <br />The tax levy is projected to increase from $12.9 million to 16.8 million over the duration <br />of this Plan. The anticipated increase in tax capacity will offset a majority of this <br />increase in terms of the future projected tax rate. The tax rate is projected to increase to <br />37.744% in 2027 from 34.935% in 2023. The tax rate increase can be attributed to the <br />following: <br />• Annual increases to the Capital Equipment Replacement (Fund 402) operating <br />tax levy to continue pay-as-you-go funding for the replacement and addition of <br />equipment and vehicles. <br />3