HomeMy WebLinkAbout2004-190 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 04 -190
RESOLUTION ADOPTING THE FINAL 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 final General Fund revenues and expenditures for the upcoming fiscal year.
NOW THEREFORE BE IT RESOLVED: That the following final General Fund operating budget be adopted
for 2005:
2005 FINAL 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 FINAL GENERAL FUND REVENUES $8,144,711
EXPENDITURES:
Administration
Community Development
Public Safety
Public Services
Other
$1,246,817
1,015,245
3,199,029
2,608,620
75,000
TOTAL FINAL GENERAL FUND EXPENDITURES $8,144,711
Adopted by the Lino Lakes City Council this 20th day of Decemb 004.
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Ann Blair ity Clerk
John °sergeson 'May
AGENDA ITEM 2B
STAFF ORIGINATOR Al Rolek
MEETING DATE December 20, 2004
TOPIC Consideration of adopting Resolution 04 -190 adopting the final
2005 General Fund Operating Budget for the City of Lino Lakes
VOTE REQUIRED
BACKGROUND`
Simple Majority
State Statutes require the City of Lino Lakes to adopt and certify a final 2005 operating budget on
or before December 28.
A Truth in Taxation public hearing was held on the budget on December 13. A summary of the
proposed budget and tax levy was presented and discussed during the public hearing and public
testimony was received. No changes have been made to the proposed budget since it was
adopted on September 13, and no recommendations for changes were made in ensuing work
sessions.
• The final 2005 budget represents a 19.86% increase from the 2004 budget. The City experienced
growth in the tax base of 14.60% over the same period. The budget provides resources for
Council priorities, additional staff positions, salary and wage adjustments, capital outlay and
equipment replacement, street maintenance and repair and a contingency for unforeseen
emergencies.
•
The City Council needs to take final action on the budget at this time. Staff recommendation is to
adopt Resolution 04 -190 approving the final 2005 General Fund Operating Budget.
OPTIONS;
1. Adopt Resolution 04 -190 adopting the final 2005 General Fund Operating Budget.
2. Refer to Staff for further review.
3. Deny Resolution 04 -190.
RECOMMENDATION
Option 1