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• <br />• <br />AGENDA ITEM 2B <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 17, 2007 <br />TOPIC Consideration of adopting Resolution 07 -209 adopting the final <br />2008 General Fund Operating Budget for the City of Lino Lakes <br />VOTE REQUIRED <br />Simple Majority <br />State Statutes require the City of Lino Lakes to adopt and certify a final 2008 General Fund <br />operating budget on or before December 28. <br />A Truth in Taxation public hearing was held on the budget on December 10. A summary of the <br />proposed budget and tax levy was presented and discussed during the public hearing and public <br />testimony was received. <br />The final 2008 budget represents a 3.11% increase from the 2007 budget. The City experienced <br />growth in the tax base of 4.81% over the same period. The City's levy for 2008 will increase by <br />4.85 %. The budget provides resources for Council priorities, additional staff position, personnel <br />cost adjustments, capital outlay and equipment replacement, street and storm drainage <br />maintenance and repair and a contingency for unforeseen circumstances. <br />The City Council needs to take final action on the budget at this time. Staff recommendation is to <br />adopt Resolution 07 -209 approving the final 2008 General Fund Operating Budget. <br />1. Adopt Resolution 07 -209. <br />2. Refer to Staff for further review. <br />3. Deny Resolution 07 -209. <br />Option 1 <br />