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• <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />CITY COUNCIL WORK SESSION <br />APPROVED <br />DATE <br />TIME STARTED <br />TIME ENDED <br />MEMBERS PRESENT <br />MEMBERS ABSENT <br />CITY OF LINO LAKES <br />MINUTES <br />DECEMBER 11, 2006 <br />: December 11, 2006 <br />. 7:15 p.m. <br />. 8:00 p.m. <br />: Councilmember Carlson, O'Donnell, <br />Reinert, Stoltz and Mayor Bergeson <br />: None <br />Staff members present: City Administrator, Gordon Heitke; Community Development <br />Director, Mike Grochala; Finance Director, Al Rolek; and Chief of Police, Dave Pecchia <br />FIVE YEAR FINANCIAL PLAN <br />Finance Director Rolek distributed and reviewed information relating to the draft Five <br />Year Financial Plan. The information included the original scenario that the Plan was <br />based on at a 7% growth factor and another scenario that assumed an 81/2-10% growth <br />factor in years four and five of the Plan. <br />Finance Director Rolek also reviewed the net tax capacity calculations for each scenario. <br />He noted both scenarios are based on assumptions. All needs would be reassessed and <br />the Plan would be revised on an annual basis. <br />Council directed staff to draft a resolution outlining a yearly update for the Plan by a <br />specified date to be determined by the Finance Director. Council also directed staff to <br />include both scenarios within the Plan for approval. <br />This item will appear on the regular Council agenda Monday, December 18, 2006, 6:30 <br />p.m. <br />The meeting was adjourned at 8:00 p.m. <br />These minutes were considered, corrected and approved at the regular Council meeting held on <br />December 18, 2006. <br />42 <br />43 <br />•44 <br />45 <br />46 <br />Ju i. e Bartell, <br />Transcribed by: <br />Kim Points <br />TimeSaver Off Site Secretarial, Inc. <br />John Bergeson, Mayor <br />