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C IT" O F <br />IN KE <br />December 9, 2024 <br />Honorable Mayor <br />Members of the City Council <br />City of Lino Lakes <br />Introduction <br />The 2025-2029 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 />Key Highlights <br />The tax levy is projected to increase from $15.6 million to $21.5 million over the duration <br />of the Plan. The tax rate is projected to increase from 39.065% in 2025 to 45.487% in <br />2029. The tax rate increase can be attributed to: <br />• Minimal increase in tax capacity for taxes payable 2026. <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 />• Annual increases to the Park & Trail Improvements (Fund 425) operating tax levy <br />to replace and upgrade current park and trail system assets. <br />3 <br />