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• <br />AGENDA ITEM 3B <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 15, 2003 <br />TOPIC Consideration of adopting Resolution 03-223 adopting the final <br />2004 General Fund Operating Budget for the City of Lino Lakes <br />VOTE REQUIRED <br />BACKGROUND <br />Simple Majority <br />State Statutes require the City of Lino Lakes to adopt and certify a final 2004 operating budget on <br />or before December 29. <br />A Truth in Taxation public hearing was held on the budget on December 8. A summary of the <br />proposed budget and tax levy was presented and discussed during the public hearing and public <br />testimony was received. <br />The final 2004 budget represents a 3.38% decrease from the 2003 budget. The City experienced <br />growth in the tax base of 17.24% over the same period. <br />• The City Council needs to take final action on the budget at this time. Staff recommendation is to <br />adopt Resolution 03-223 approving the final 2004 General Fund Operating Budget. <br />• <br />OPTIONS <br />1. Adopt Resolution 03-223 adopting the final 2004 General Fund Operating Budget. <br />2. Refer to Staff for further review. <br />3. Deny Resolution 03-223. <br />RECOMMENDATION. <br />Option 1 <br />