City Council Minutes 2012 10 02 - Laserfiche WebLink

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City Council Meeting Minutes October 2, 2012 Page 8 of 13 • Water& Wastewater User Fees: +6.0% water rate increase and 4.0% wastewater rate increase for years 2013 through 2017. No increases in Storm Water rates. • Employee Salaries & Wages: +3.6% annual average from 2013 - 2017. • Employee Benefits +6.1% annual average from 2013 - 2017. • Total General Fund Revenues +1.6% from 2013 - 2017 • Total General Fund Expenditures +2.6% from 2013 - 2017. Finance Director Watson reviewed the Five Year Capital Improvement Plan as follows: • Street Repair & Reconstruction Program ($7.5M, 2013-2017) • City Services Facility ($6.6M, 2012-2013) • Sludge Treatment/Handling ($6.2M, 2013-2014) • McCaslin/US36 Interchange — DDI ($3.5M, 2013-2014) • Vehicle and Equipment Replacement ($3.5M, 2013-2017) • Wastewater Plant Upgrade/Design and Debt Service ($3.1M, 2013-2017) • South Street Underpass ($2.9M, 2013-2014) • Water and Sewer Line Replacements ($2.6M, 2013-2017) • NCWCD —Windy Gap Firming ($1.9M, 2013-2017) • McCaslin/Washington Underpass ($1.6M, 2012-2013) Finance Director Watson noted the City is anticipating issuing bonds in 2013 in the amount of $17 Million for the South Water Plant Expansion and the Waste Water Plant upgrade. The entire cost is not reflected in the CIP Budget. Projections include an estimate of design costs up front and a debt service on the bonds. The proposal is to issue $17 Million in Enterprise Fund Revenue Bonds in 2013. The Capital Project Fund reflects a number of large capital projects. The Combined Utility Fund, (water, waste water and storm water) reflects a decline in reserves. The Conservation Trust—Open Space and Parks Fund: Expenditure targets will make the Conservation Trust Fund sustainable and fund all the maintenance of the parks and open space plus $100,000 per year in capital projects from 2015 —2017. Mayor Muckle noted City Manager Fleming is unavailable this evening because he is on his honeymoon. He will be available at the October 9, 2012 Special Budget Meeting. Deputy City Manager Balser outlined the key Council decisions as follows: Are revenue and expenditure estimates reasonable; does the proposed budget reflect prudence given current economic conditions; do capital projects preserve assets and focus on areas of greatest need and can we maintain service levels over the long run? Staff is looking for direction on issues Council would like to discuss in further detail on October 9th and if any additional information is needed, please request of staff. She requested Council schedule the formal public hearing on the 2013 Budget for October 16, 2012. Staff will ask Council, at their October 9, 2012 Special Meeting, for any changes Council members would like to see in the proposed Budget in order to make