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City Council Budget Retreat <br />Special Meeting Minutes <br />June 27, 2013 <br />Page 2 of 13 <br />REGULAR BUSINESS <br />DISCUSSION /DIRECTION 2014 BUDGET <br />Mayor Muckle requested a staff presentation. <br />City Manager Fleming outlined the staff presentation for the 2014 Budget discussion. <br />Staff review and focus on revenue assumptions, expenditure targets, and the major <br />fund forecasts for 2014 and staff's recommended 2014 -2018 Capital Improvements <br />Plan (CIP). Based on Council discussion and direction on the revenue assumptions, <br />fund forecasts and recommended CIP, staff will include the 2014 project costs in the <br />2014 Recommended Budget. <br />Staff requests direction from Council on the Budget Objectives, which reflect the <br />rankings submitted by Council Members. Staff will rely on Council discussion and <br />direction on these objectives and goals as the recommended 2014 Budget is developed <br />for Council consideration. <br />Staff will discuss the proposed 2014 Budget Calendar, which establishes the key dates <br />for the budget process. Staffs request Council discussion during the entire process for <br />this important budget document. <br />FINANCIAL FORECAST /REVENUE PROJECTIONS FOR 2014 <br />Finance Director Watson presented a review of the following fund balances as of <br />December 31, 2012. <br />GENERAL FUND — 2012 REVIEW <br />• Fund Balance at 12/31/12 = $ 4,257,000 <br />• Fund Balance declined by $2,075,000 (33 %) <br />• Transfers to other funds = $1,094,000 <br />• Revenue exceeded budget by $1,094,000 <br />• Expenditure turnback = $261,000 (1.5 %) <br />CONSERVATION TRUST — OPEN SPACE AND PARKS FUND 2012 REVIEW <br />• Fund Balance at 12/31/12 = $7,899,000 <br />• Fund Balance increased by 29,000 (0.4 %) <br />• Revenue exceeded budget by $222,000 <br />• Expenditure turnback = $602,000 (30 %) <br />• Budget amendment for carry- forward of capital projects to 2013 = $171,000 <br />