Finance Committee Agenda and Packet 2025 05 15

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City Council Finance Committee Meeting Minutes April 17, 2025 Page 2 of 5 Councilmember Cooperman asked how golf course projects get routed through the enterprise fund and how we fund golf course projects. The Director of Finance responded that these would be legacy projects carried forward with the original funding from 2023, noting that financial policies at the time allowed for golf projects to be funded by capital fund. Councilmember Cooperman asked if the city or Xcel Energy owns the downtown streetlights. The City Engineer responded that they are owned by Xcel but maintained by the city per our franchise agreement. Councilmember Cooperman asked about water rights line items in the capital budget as he thought fees were used to purchase water rights. He asked how this work is funded. The Deputy Director of Utilities responded that these particular water rights were dedicated for golf course use, which is why they have an independent source apart from the overall water supply. Councilmember Cooperman asked if the Highway 42 improvements line item is for the design of the larger Highway 42 improvement plan or if it is for the underpass project. The City Engineer responded that this line item is grant funding to take the corridor improvements to 60 percent design, noting that the South Street underpass is a separate project. The Director of Finance noted that this project is 90% externally funded. Councilmember Cooperman asked about the internal decarb plan line items that looked like they were being delayed. He asked if someone could speak to those delays. The Director of Finance responded that those items were delayed in 2024 and subsequently mapped strategically to projects in 2025. He noted that this funding was directed to multiple projects in 2025 that wouldn't be listed in the 2024 report. Public Comments: None. Rollovers/Carry-Overs/lst Citywide 2025 Budget Amendment: The Director of Finance presented the first 2025 citywide budget amendment to the committee. The presentation was included in the meeting packet. Staff is seeking committee feedback and ultimately council support of this budget amendment. Committee Comments: Councilmember Hoefner asked for clarification on what "net impact" means, specifically if, when we say there is a net impact, that it refers to $24M which was appropriated in 2024 and is being carried forward into 2025. He asked for clarification that there is no increase to the 2025 City Budget based on the "net impact" as noted. To be clear, these funds were not expended in 2024 and are only being carried into 2025 to continue ongoing projects. The Director of Finance confirmed that, yes, "net impact" is just administrative carryforward from the previous year, noting that details of the carry -forward appropriations can be found in appendix A. Councilmember Cooperman asked if it is typical to spend a small portion of the CIP budget and roll a substantial amount forward into subsequent years. The Director of Finance responded that this is common 4/107