City Council Minutes 2013 10 15 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes October 15, 2013 Page 10 of 23 from the Capital Projects Fund and the General Fund to cover the reconstruction expenses. Open Space, Parks and Trails: City Manager Fleming clarified he is not inferring that funds from the Open Space, Parks and Trails Fund should be used for anything but open space acquisition, parks, trails and the maintenance of those properties. He suggested the General Fund and the Capital Project Funds should be used to provide as much flexibility as possible, while maintaining sufficient funds in the Conservation Trust Fund to acquire the likely property acquisitions. Conservation Trust Open Space Fund: The recommended budget would maintain at least $4.25 million reserves in the Opens Space and Parks Fund, (OSPF), which would provide sufficient funding to acquire several major open space and /or parks properties in one year should they become available. Increasing the General Fund transfer to $1 million annually would increase the Open Space and Parks Fund reserves to over $6 million by 2018. Both forecasts reflect expenditures for all positions and capital projects included in the 2014 recommended budget. General Fund transfers to the Open Space, Parks and Trails Fund: Staff prepared forecasts comparing the recommended budget, which reflects GF support for the OSPF of about $460,000 to $680,000 in 2015 to 2018 with a forecast that would increase GF support for the OPSF to $1 million annually. The forecast for the recommended budget would maintain at least $4.25 million reserves in the OSPF. This would provide sufficient funding to acquire several major open space and /or parks properties in one year should they become available. Increasing the GF transfer to $1 million annually would increase the OSPF reserves to over $6 million by 2018. Both forecasts reflect expenditures for all positions and capital projects included in the 2014 recommended budget. The forecasts reflects increasing the GF to OSPF transfer from the proposed level ($460,000 to $680,000 in 2015 to 2018) to $1 million annually each year would require reducing the GF transfer for capital projects and in turn reduce reserves in the CPF to almost zero in 2015. To maintain higher reserves in the CPF, it would be necessary to reduce expenditures for capital projects or increase GF transfers to the CPF and reduce GF expenditures for operations in other areas. City Manager Fleming addressed the appropriate amount of GF support for open space projects and activities and capital projects. He asked the City Council if General Fund support to the OSPF of $460,000 in 2015 to $680,000 in 2018 is enough. The OSPF reserves would be over $6 million by 2018, which would be sufficient should more than three of the major open space parcels became available. He asked what level of transfers the City Council is comfortable with to cover the expenditures associated with open space and parks maintenance, reconstruction activities and capital projects. COUNCIL COMMENTS