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• <br />• <br />• <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE September 13, 2004 <br />TOPIC Consideration Resolution 04 -131 adopting the proposed 2005 <br />Operating Budget for the City of Lino Lakes <br />VOTE REQUIRED <br />Simple Majority <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a proposed 2005 <br />operating budget on or before September 15th of each year. <br />The main goals in preparing the budget were to maintain current service levels to our citizens, <br />ensure each department has adequate resources to perform their functions, provide for the <br />replacement of wom equipment and provide a small contingency for unforeseen circumstances <br />that may arise throughout the year. The proposed budget accomplishes these goals by <br />providing resources to implement Council goals representing the greatest needs of the <br />community, adding 5.5 new staff positions, re- implementing the capital equipment replacement <br />program and providing an amount for contingencies. The budget also includes funding to begin <br />maintaining streets as recommended in the draft pavement management plan. <br />The budget as proposed for 2005 is $8,144,711, a $1,349,795 (19.86 %) increase from the <br />budget adopted for 2004. The budget for 2004 was actually reduced from 2003 due to cuts in <br />state aid imposed by the 2003 Legislature. The increase over the two -year period from 2003- <br />05 is 15.90 %, or 7.95% per year. The state legislature has allowed levy limits to sunset for the <br />2005 budget year and reinstated the market value homestead credit. The city's total levy is <br />proposed to increase by 10.97 %. While the proposed budget results in a property tax increase, <br />staff feels that the budget presented fulfills most needs of the community and is fiscally <br />responsible to our taxpayers. <br />The departmental budgets within the proposed budget will be further reviewed by the City Council <br />and staff between September 13th and December 13th, for changes, if needed. <br />1. Adopt Resolution 04 -131 adopting the proposed 2005 Operating Budget. <br />2. Refer back to staff for further review. <br />ENOATION <br />Option 1 <br />