HomeMy WebLinkAbout2022-145 Council Resolution CITY OF LINO LAKES
RESOLUTION NO. 22-145
ADOPTING THE FINAL 2023 GENERAL FUND OPERATING BUDGET
WHEREAS,pursuant to Minnesota State Statute,the Lino Lakes City Council is required to
adopt a resolution setting the final General Fund revenues and expenditures for the upcoming
fiscal year.
NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes,
that the following final General Fund operating budget be adopted for 2023:
2023 FINAL GENERAL FUND BUDGET
REVENUES:
Property Taxes $9,734,585
Licenses & Permits 1,103,401
Intergovernmental 687,417
Charges for Services 292,422
Fines & Forfeitures 101,100
Interest on Investments 30,000
Miscellaneous 208,491
Other Financing Sources 20,000
TOTAL FINAL GENERAL FUND REVENUES $12,177,416
EXPENDITURES:
Administration $1,639,462
Community Development 822,638
Public Safety 6,231,750
Public Services 3,249,566
Other 234,000
TOTAL FINAL GENERAL FUND EXPENDITURES $12,177,416
Adopted by the Council of the City of Lino Lakes this 12th day of December, 2022.
The motion for the adoption of the foregoing resolution was introduced by Council Member
CCAVeOc\ and was duly seconded by Council Member 1-2VAkf1�QMG\ and upon
vote being taken thereon, the following voted in favor thereof: t ,C1C=-Fe 1 1 CEO►.ecn Ly��tf
Ruh\( ,
The following voted against same: Nc c e. r�if--1(t
R b Ra erty, Mayor
ATTEST:
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Julianne Bartel, City Cler
CITY COUNCIL
AGENDA ITEM 2A (ii)
STAFF ORIGINATOR: Hannah Lynch, Finance Director
MEETING DATE: December 12, 2022
TOPIC: Consider Resolution No. 22-145,Adopting the Final 2023 General
Fund Operating Budget
VOTE REQUIRED: 3/5
BACKGROUND
A public hearing was held tonight to take public comment on the budget. A summary of the
proposed final budget and tax levy was presented and discussed during the public hearing.
The final 2023 budget is balanced with revenues and expenditures of$12,177,416,which represents
a 4.39% increase over the 2022 adopted budget. The total increase to the base budget for 2023 is
$631,530 and items contributing to the increase are outlined on pages 9-10 of the 2023 Proposed
Final Budget&Tax Levy.
The 2023 budget is balanced with no use of reserves and$20,000 in transfers from other funds. This
maintains an Unassigned Fund Balance of 59% of operating expenditures, consistent with the
current Fund Balance Policy. It should be noted that$500,000 of reserves were used to balance the
2022 adopted budget.
The City Council needs to take final action to approve the budget at this time.
RECOMMENDATION
Staff recommends the approval of Resolution No. 22-145.
ATTACHMENTS
Resolution No. 22-145