Comprehensive Annual Financial Report 12/31/1995

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Inmir The City Charter grants the City Council full authority over the financial matters of the City. The City Administrator has the responsibility of submitting the annual budget to the City Council. The budget is adopted by resolution and the amounts can not increase beyond the estimated receipts except to the extent that actual receipts exceed the estimate. THE REPORTING ENTITY In accordance with the Governmental Accounting Standards Board requirements, the financial reporting entity includes all funds and account groups of the City as well as all of its component units. Component units are legally separate entities for which the primary government is financially accountable. Blended component units, although legally separate entities, are in substance, part of the primary government's operations and are included as part of the primary government. Accordingly, the Economic Development Authority is reported as a Special Revenue Fund of the primary government. The City provides a full range of municipal services. These services include: general government, public safety (police & fire), public works (streets , engineering & planning), parks and recreation, public improvements, sanitary and storm sewer, and water. ECONOMIC CONDITION AND OUTLOOK The City of Lino Lakes is a growing community within the County of Anoka. It covers an area of 33 square miles and has a population in excess of 13,000. Within the City's borders lies the 2,700 acre Rice Creek Chain of Lakes Regional Park. Access to St. Paul and Minneapolis is provided by I35W and I35E. In late 1994, the City Council asked citizens to participate in a series of work groups designed to consider the City's future. This citizen participation was named 20/20 Vision. The process was completed in 1995, with the City receiving many ideas and suggestions for the planning and growth of the City. Commercial Development was deemed important to pursue to enhance the City's tax base. The City is planning the commercial growth in clusters to avoid strip mall development , and meet the needs of the citizens. Another concern of the citizen group was the lack of identity. This year, the City adopted the blue heron as the new logo, as the blue heron has long symbolized the special qualities of Lino Lakes. With the many wetlands and regional parks, environmental issues are important in this City. Future development was deemed to include equal consideration of economic development and environmental issues by establishing criteria to evaluate the desirability of each economic development opportunity. 9