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1 <br />CITY COUNCIL <br />REGULAR MEETING STAFF REPORT <br />AGENDA ITEM 2B <br />STAFF ORIGINATOR: Hannah Lynch, Finance Director <br />MEETING DATE: December 11, 2023 <br />TOPIC: 2024-2028 Financial Plan <br />VOTE REQUIRED: 3/5 <br />______________________________________________________________________________ <br />INTRODUCTION <br />The City Council will hold a public hearing on the 2024-2028 Financial Plan. The Plan is a <br />guiding document and is updated on an annual basis. <br />BACKGROUND <br />The City Council reviewed a Draft 2024-2028 Financial Plan at the November 6, 2023 Work <br />Session. No changes to the Plan were recommended. <br />The Plan was prepared by staff in compliance to and in accordance with the Lino Lakes City <br />Charter 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 Program <br />(including Appendix A and 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 by <br />Council through the competitive bidding process while Citywide projects are approved as part <br />of the budgeting process. <br />RECOMMENDATION <br />Staff recommends approving Resolution No. 23-132, Accepting the 2024-2028 Financial Plan. <br />ATTACHMENTS <br />Resolution No. 23-132 <br />2024-2028 Financial Plan <br />185