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AGENDA ITEM 3B <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 16, 2002 <br />TOPIC Consideration of adopting Resolution 02-184 adopting the final <br />2003 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 2003 operating budget on <br />or before December 28. <br />A Truth in Taxation public hearing was held on the budget on December 9. 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 2003 budget represents a 4.12% increase over the 2002 budget. The City experienced <br />growth in the tax base of 16.66% 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 02-184 approving the final 2003 General Fund Operating Budget. <br />OPTIONS <br />1. Adopt Resolution 02-184 adopting the final 2003 General Fund Operating Budget. <br />2. Refer to Staff for further review. <br />3. Deny Resolution 02-184. <br />RECOMMENDATION <br />Option 1 <br />A-3 <br />