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• CITY COUNCIL AGENDA ITEM 2A (ii) STAFF ORIGINATOR Al Rolek MEETING DATE December 10, 2012 TOPIC Consideration of adopting Resolution No. 12 -123 adopting the fmal 2013 General Fund Operating Budget for the City of Lino Lakes VOTE REQUIRED BACKGROUND Simple Majority State Statutes require the City of Lino Lakes to adopt and certify a fmal 2013 General Fund operating budget on or before December 28. A public hearing was held tonight to take public comment on the budget. A summary of the proposed budget and tax levy was presented and discussed during the public hearing. The fmal 2013 budget represents a 3.56% decrease from the 2012 adopted budget. The City's tax base contracted by about 7% over the last year. The City's tax levy for 2012/13 will decrease by $11,631 from the 2011/12 levy. Funding for street maintenance is increased by 5% and storm drainage maintenance and repair efforts are maintained for 2013. A contingency for unforeseen circumstances is also included in the budget. Delaying some capital equipment replacement to future years and the use of debt financing for equipment acquisition help in reducing the budget and tax levy for the coming year. Accumulated prior year budget surpluses is used to balance the budget and to keep the tax levy from increasing. The City Council needs to take fmal action to approve the budget at this time. RECOMMENDATION Staff recommends adoption of Resolution 12 -123. ATTACHMENTS Resolution 12 -123.