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• <br />• <br />AGENDA ITEM 2C <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 18, 2006 <br />TOPIC Consideration of adopting Resolution 06 -209 adopting the final <br />2007 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 2007 General Fund <br />operating budget on or before December 28. <br />A Truth in Taxation public hearing was held on the budget on December 11 and a continuation of <br />the hearing was held earlier this evening. A summary of the proposed budget and tax levy was <br />presented and discussed during the public hearing and public testimony was received. No <br />changes have been made to the proposed budget since it was adopted on September 11, and no <br />recommendations for changes were made in ensuing work sessions. <br />The final 2007 budget represents a 11.64% increase from the 2006 budget. The City experienced <br />growth in the tax base of 11.37% over the same period. The City's levy for 2007 will increase by <br />6.01%. The budget provides resources for Council priorities, additional staff position, salary and <br />wage 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 06 -209 approving the final 2007 General Fund Operating Budget. <br />1. Adopt Resolution 06 -209 adopting the final 2007 General Fund Operating Budget. <br />2. Refer to Staff for further review. <br />3. Deny Resolution 06 -209. <br />Option 1 <br />