City Council Minutes 2005 10 18 - Laserfiche WebLink

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City Council Meeting Minutes October 18, 2005 Page 5 of 9 $297,093 over the 2005 budget due to increased demand in the months of July and August. The proposed budget includes 3% water and sewer rate, which would result in estimated total revenues of $4,612,969 in 2006. Expenditures - All Funds The total expenditures for all funds in the 2006 budget are $33,438,296. Included in this amount is $18,859,683 for operating expenditures, $2,868,973 for payment of debt service, and $11,699,639 for capital improvements. Total uses of funds, including operating transfers out and interfund loan repayments are $35,313,574. Personal Services: Personal Services in all funds is increased approximately 2% over the 2005 budget. The increase includes an approximate 1 % increase for cost of living and an average 2.5% merit increase for existing positions. Benefits expenses increased an average of 10.0% over the 2005 budget. Capital Improvements: Capital improvements over all funds are approximately $11,699,639. The more significant projects included in the 2006 capital improvement program were the street reconstruction of approximately $1.20 million, Dillon Road construction of $1 ,395,000, City Hall renovation of $1,500,000, City Shops Renovation of $370,000 and Recreation/Senior Center swimming pool improvements of over $400,000. Finance Director Leslie addressed funding the new library staffing. She presented a scenario which would move 1 % of the sales tax earmarked for the Capital Improvement Projects budget to the General Fund. That scenario was carried forward to the next five years. She reviewed the analysis for the revenue projections for 2006 and the budget reductions in expenditures. City Manager Simmons reviewed the cuts in street reconstruction projects in the five year Capital budget are in 2008 and 2010. He stated the City can reevaluate the capital projects on an annual basis. He noted the importance of completing two projects; the reconstruction of Dillon Road and the reconstruction of 88th Street to 104th Street. He also reviewed the budget cuts from the 2006 budget. He stated it was Staff's goal to present a balanced budget to Council and noted the budget was balanced without dipping into the fund balances. Mayor Sisk requested public comment. There were no comments. COUNCIL COMMENT Council member Van Pelt asked for clarification on the projection that sales tax would increase. Finance Director Leslie stated that the increase reflects the Capital Improvement Budget shift to the General Fund.