08-26-2024 - Council Special Budget Work Session Minutes

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Lino Lakes City Council Special Budget Work Session Minutes DATE: August 26, 2024 TIME STARTED: 9:32 P.M. TIME ENDED: 10:47 P.M. LOCATION: City Hall Community Room MEMBERS PRESENT: Mayor Rafferty, Councilmembers Stoesz, Cavegn, and Ruhland MEMBERS ABSENT: Council member Lyden Staff Members Present: City Administrator Sarah Cotton, Finance Director Hannah Lynch, Public Safety Director John Swenson, Public Services Director Rick DeGardner, and Community Development Director Michael Grochala 1. Call to Order and Roll Call Mayor Rafferty called the meeting to order at 9:32 p.m. 2. Setting the Agenda: Addition or Deletion of Agenda Items The agenda was adopted as presented. 3. 2025 Annual Budget and 2025-2029 Financial Plan The Finance Director reviewed that at the August 12, 2024, Budget Work Session, the Council discussed the 2025 Annual Budget and 2025-2029 Financial Plan, and that discussion has been continued to this evening. Formal council action is requested by the September 23rd meeting in order to set the Preliminary Tax Levy and schedule a public hearing date. The Preliminary Levy set at the September meeting may not be increased thereafter but may be lowered before approving the Final Budget and Levy in December. The Finance Director presented an Average Residential Property City Tax Impact Calculator worksheet for the consideration of the City Council. She reviewed the City of Lino Lakes 2024 Tax Rate was 36.098% and the proposed 2025 Tax Rate is 39.857%. Comparable area city tax rates were discussed. The Finance Director reported that in keeping with the most recent rate studies the water service base fee is proposed to increase by $5 per quarter and the volume charge is recommended to increase by 4%, the sewer charges are proposed to increase by 2.5% and the stormwater charge was adjusted for new customer counts but was not proposed to be increased. She reviewed the capital reserve projects in each fund that are covered by the rates. She recommended that the city consider a new rate study once the water treatment plant is online.