HomeMy WebLinkAbout2003-145 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 03-145
RESOLUTION ADOPTING THE PROPOSED 2004 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 2004:
2004 PROPOSED GENERAL FUND BUDGET
REVENUES:
Property Taxes $5,151,066
Intergovernmental Revenue 370,000
Licenses and Permits 777,350
Charges for Services 181,500
Fines & Forfeitures 100,000
Interest on Investments 65,000
Miscellaneous 145,000
TOTAL PROPOSED GENERAL FUND REVENUES $6,789,916
EXPENDITURES:
Administration $1,113,372
Community Development 754,956
Public Safety 2,735,395
Public Services 2,152,642
Other 33,551
TOTAL PROPOSED GENERAL FUND EXPENDITURES $6,789,916
Adopted by the Lino Lakes City Council this 8th day of Septe
Ann J. Blair,(City Clerk
, 003.
J. Be eson, ayor
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AGENDA ITEM 3A
STAFF ORIGINATOR Al Rolek
MEETING DATE September 8, 2003
TOPIC Consideration Resolution 03-145 adopting the proposed 2004
Operating Budget for the City of Lino Lakes
VOTE REQUIRED
BACKGROUND
Simple Majority
Minnesota State Statutes require the City of Lino Lakes to adopt and certify a proposed 2004
operating budget on or before September 15th of each year.
This was a particularly challenging budget year, with the City losing all of the Local Government
Aid and Market Value Credit it receives from the State. While the City may levy back a portion of
the lost aids, in light of other economic difficulties, the additional levy will not make completely fill
the gap. As a result, the 2004 budget is proposed with a 3.38% decrease from the 2003 budget.
The City experienced a market value growth of 16.01% over the same period. The proposed
budget was reviewed with the City Council at work sessions held August 13 and September 3.
The departmental budgets within the proposed budget will be further reviewed by the City Council
and staff between September 8th and December 8th, for changes, if needed.
OPTIONS
1. Adopt Resolution 03-145 adopting the proposed 2004 Operating Budget.
2. Refer back to staff for further review.
RECOMMENDATION
Option 1