HomeMy WebLinkAbout2004-131 Council ResolutionA
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CITY OF LINO LAKES
RESOLUTION NO. 04-131
RESOLUTION ADOPTING THE PROPOSED 2005 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 2005:
2005 PROPOSED GENERAL FUND BUDGET
REVENUES:
Property Taxes $6,394,211
Intergovernmental Revenue 480,000
Licenses and Permits 774,750
Charges for Services 191,500
Fines & Forfeitures 100,000
Interest on Investments 65,000
Miscellaneous 139,250
TOTAL PROPOSED GENERAL FUND REVENUES $8,144,711
EXPENDITURES:
Administration
Community Development
Public Safety
Public Services
Other
TOTAL PROPOSED GENERAL FUND EXPENDITURES
$1,246,817
1,015,245
3,199,029
2,608,620
75,000
$8.144,711
Adopted by the Lino Lakes City Council this 13th day of Septembe 004.
Ann J. BIB', City Clerk
John; ►': erges
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AGENDA ITEM 2A
STAFF ORIGINATOR Al Rolek
MEETING DATE September 13, 2004
TOPIC Consideration Resolution 04 -131 adopting the proposed 2005
Operating Budget for the City of Lino Lakes
VOTE REQUIRED
Simple Majority
Minnesota State Statutes require the City of Lino Lakes to adopt and certify a proposed 2005
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 wom equipment and provide a small contingency for unforeseen circumstances
that may arise throughout the year. The proposed budget accomplishes these goals by
providing resources to implement Council goals representing the greatest needs of the
community, adding 5.5 new staff positions, re- implementing the capital equipment replacement
program and providing an amount for contingencies. The budget also includes funding to begin
maintaining streets as recommended in the draft pavement management plan.
The budget as proposed for 2005 is $8,144,711, a $1,349,795 (19.86 %) increase from the
budget adopted for 2004. The budget for 2004 was actually reduced from 2003 due to cuts in
state aid imposed by the 2003 Legislature. The increase over the two -year period from 2003-
05 is 15.90 %, or 7.95% per year. The state legislature has allowed levy limits to sunset for the
2005 budget year and reinstated the market value homestead credit. The city's total levy is
proposed to increase by 10.97 %. While the proposed budget results in a property tax increase,
staff feels that the budget presented fulfills most needs of the community and is fiscally
responsible 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 13th, for changes, if needed.
1. Adopt Resolution 04 -131 adopting the proposed 2005 Operating Budget.
2. Refer back to staff for further review.
ENOATION
Option 1