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• <br />• <br />• <br />AGENDA ITEM 3A <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE September 8, 2003 <br />TOPIC Consideration Resolution 03-145 adopting the proposed 2004 <br />Operating Budget for the City of Lino Lakes <br />VOTE REQUIRED <br />BACKGROUND <br />Simple Majority <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a proposed 2004 <br />operating budget on or before September 15th of each year. <br />This was a particularly challenging budget year, with the City losing all of the Local Government <br />Aid and Market Value Credit it receives from the State. While the City may levy back a portion of <br />the lost aids, in light of other economic difficulties, the additional levy will not make completely fill <br />the gap. As a result, the 2004 budget is proposed with a 3.38% decrease from the 2003 budget. <br />The City experienced a market value growth of 16.01% over the same period. The proposed <br />budget was reviewed with the City Council at work sessions held August 13 and September 3. <br />The departmental budgets within the proposed budget will be further reviewed by the City Council <br />and staff between September 8th and December 8th, for changes, if needed. <br />OPTIONS <br />1. Adopt Resolution 03-145 adopting the proposed 2004 Operating Budget. <br />2. Refer back to staff for further review. <br />RECOMMENDATION <br />Option 1 <br />