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The City Charter grants the City Council full authority over the financial matters of the City. The City <br />Administrator has the responsibility of submitting the annual budget to the City Council. The budget is adopted <br />by resolution and the amounts can not increase beyond the estimated receipts except to the extent that actual <br />receipts exceed the estimate. <br />THE REPORTING ENTITY <br />In accordance with the Governmental Accounting Standards Board requirements, the financial reporting entity <br />includes all funds and account groups of the City as well as all of its component units. Component units are <br />legally separate entities for which the primary government is financially accountable. <br />Blended component units, although legally separate entities, are in substance, part of the primary government's <br />operations and are included as part of the primary government. Accordingly, the Economic Development <br />Authority is reported as a Special Revenue Fund of the primary government. <br />The City provides a full range of municipal services. These services include: general government, public safety <br />(police & fire), public works (streets & fleet), parks and recreation, conservation of natural resources <br />(environmental & solid waste abatement), public improvements, providing and maintaining sanitary and storm <br />sewer, water infrastructure, and two enterprise funds, the water and sewer funds. <br />ECONOMIC CONDITION AND OUTLOOK <br />The City of Lino Lakes is a growing community in the southeast corner of the County of Anoka. It covers an <br />area of 33 square miles and has a population of nearly 17,000. The population has nearly doubled from the 1990 <br />census figure of 8,807. Within the City's borders lies the 2,550 acre Rice Creek Chain of Lakes Regional Park. <br />Access to St. Paul and Minneapolis is provided by I -35W and I -35E. <br />The economic development effort established in 1993 by the city council has begun to have an impact in the <br />diversity of the City's tax base. Since 1993, the city has added more than $40 million in additional <br />commercial /industrial market value. The Apollo Business Park on I -35W and the Clearwater Creek Development <br />Center on I -35E continue to attract industrial development. A new commercial retail center on Lake Drive and <br />Apollo Drive in the Town Center area has been initiated and is expected to be substantially complete in 2002. <br />With the many wetlands and regional parks, environmental issues are :important to the city. In 1999, the city <br />approved its first Preservation Development subdivision, a large step forward in the implementation of the city's <br />overall environmental inventory and management plan. This plan will preserve the valuable open spaces and <br />wetlands within the city. <br />MAJOR INITIATIVES <br />Commercial development in Lino Lakes has been the focus of a city-initiated development called the Town <br />Center on the I -35W interchange area. This innovative project incorporates mixed -use development that includes <br />professional buildings, civic facilities, commercial development and a mix of housing types. The city received a <br />$220,000 Livable Communities grant in 1998 from the Metropolitan Council to hire Peter Calthorpe Associates, <br />a planner on the cutting edge of urban and suburban neighborhood development, to refine the city's plan for the <br />Town Center. An additional grant of $450,000 was awarded in 2000 to begin implementation of the housing <br />initiatives outlined in the Calthorp plan. <br />4 <br />