HomeMy WebLinkAbout2002-184 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 02-184
RESOLUTION ADOPTING THE FINAL 2003 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 2003:
2003 FINAL GENERAL FUND BUDGET
REVENUES:
Property Taxes $5,214,932
Intergovernmental Revenue 527,735
Licenses and Permits 775,175
Charges for Services 173,000
Fines & Forfeitures 100,000
Interest on Investments 75,000
Miscellaneous 161,500
TOTAL FINAL GENERAL FUND REVENUES $7,027,342
EXPENDITURES:
Administration $1,119,138
Community Development 787,005
Public Safety 2,714,809
Public Services 2,332,904
Other 73,486
TOTAL FINAL GENERAL FUND EXPENDITURES $7,027,342
Adopted by the Lino Lakes City Council this 16th day of Decem
Ann , City Clerk
A-3
Joh
AGENDA ITEM 3B
STAFF ORIGINATOR Al Rolek
MEETING DATE December 16, 2002
TOPIC Consideration of adopting Resolution 02-184 adopting the final
2003 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 2003 operating budget on
or before December 28.
A Truth in Taxation public hearing was held on the budget on December 9. A summary of the
proposed budget and tax levy was presented and discussed during the public hearing and public
testimony was received.
The final 2003 budget represents a 4.12% increase over the 2002 budget. The City experienced
growth in the tax base of 16.66% over the same period.
The City Council needs to take final action on the budget at this time. Staff recommendation is to
adopt Resolution 02-184 approving the final 2003 General Fund Operating Budget.
OPTIONS
1. Adopt Resolution 02-184 adopting the final 2003 General Fund Operating Budget.
2. Refer to Staff for further review.
3. Deny Resolution 02-184.
RECOMMENDATION
Option 1
A-3