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HomeMy WebLinkAbout2005-130 Council Resolution• • • CITY OF LINO LAKES RESOLUTION NO. 05-130 RESOLUTION ADOPTING THE PROPOSED 2006 GENERAL OPERATING BUDGET FOR THE CITY OF LINO LAKES. WHEREAS, Pursuant to State Statute, the Lino Lakes City Council is required to adopt a resolution setting out proposed General Fund revenues and expenditures for the upcoming fiscal year. NOW, THEREFORE BE IT RESOLVED that the following Proposed General Fund operating budget be adopted for 2006: 2006 PROPOSED GENERAL FUND BUDGET REVENUES: Property Taxes $6,757,626 Intergovernmental Revenue 365,000 Licenses and Permits 866,600 Charges for Services 198,000 Fines & Forfeitures 110,000 Interest on Investments 80,000 Miscellaneous 230,000 TOTAL PROPOSED GENERAL FUND REVENUES $8.607.226 EXPENDITURES: Administration Community Development Public Safety Public Services Transfers TOTAL PROPOSED GENERAL FUND EXPENDITURES $1,325,333 1,094,731 3,350,148 2,250,404 586,610 $8.607.226 Adopted by the Lino Lakes City Council this 13th day of Septembg 005. Jean Deputy City CI John JfBerge on, ayor Page 28A — 28B • • • AGENDA ITEM 2A STAFF ORIGINATOR Al Rolek MEETING DATE September 13, 2005 TOPIC Consideration Resolution 05 -130 adopting the proposed 2006 Operating Budget for the City of Lino Lakes VOTE REQUIRED Simple Majority !DUN© Minnesota State Statutes require the City of Lino Lakes to adopt and certify a proposed 2006 operating budget on or before September 15th of each year. The main goals in preparing the budget were to maintain current service levels to our citizens, ensure each department has adequate resources to perform their functions, provide for the replacement of worn equipment and maintain or lower the city's tax rate. The proposed budget addresses these goals by providing resources to implement Council goals representing the greatest needs of the community, adding a new police sergeant and a general street/park maintenance worker, and continuing the process of phasing in funding for the capital equipment replacement program and street maintenance. The budget proposed for 2006 is $8,607,226, a 5.67% increase from the budget adopted for 2005. The suspension of the market value homestead credit aid for 2006 by the state legislature created a substantial challenge for the 2006 budget year. After long discussions and deliberations, the City Council has crafted a budget that meets this challenge through a number of compromises, while fulfilling most needs of the community and lowering the city's tax rate to our taxpayers. The departmental budgets within the proposed budget will be further reviewed by the City Council and staff between September 13th and December 12th, for changes, if needed. [5PTIi 1. Adopt Resolution 05 -130 adopting the proposed 2006 Operating Budget. 2. Refer back to staff for further review. RECOMII+ T! N Option 1 Page 28A — 28B