City Council Minutes 2014 01 14 SP

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City Council Special Meeting Minutes January 14, 2014 Page 6 of 14 Council member Lipton suggested expanding the format to include two more lines items: 1) the net income and 2) contingency. He addressed the Golf Course Improvement Plan and asked if the reinvestment in the golf course will address most of the improvements. Parks and Recreation Director Stevens stated the biggest item in the Plan was the irrigation system. He noted some items may have to be deferred, such as restrooms on the side of the course, shade shelters, and landscaping. Mayor Pro Tern Dalton noted some of the items not paid for by the golf course contract may find their way in the Capital budget. Parks and Recreation Director Stevens stated many golf courses have an up charge on every round of golf for capital improvements. Mayor Muckle noted most of the items in the Golf Course Improvement Plan are covered in the reconstruction plan. He noted many citizens have requested Coal Creek trail alignments through the golf course and encouraged staff to investigate this to provide a much better user experience. He suggested contacting some of the applicants for the Golf Course Advisory Board who were very knowledgeable about golf course management to assist the Golf Course Advisory Board. Finance Director Watson noted current debt to the golf course is $1.4 million and as long as the City gets back on schedule the debt will be paid off in 2021. Council member Stolzmann did not support changing the loan repayment to the Water Treatment Plant Fund and asking the voters for$30 million for the Waste Water Treatment Plant. She voiced her preference to transfer money from Capital Projects to the Golf Course Fund and pay back the loan on schedule. Council member Jasiak stated although she supports other uses for the golf course, she fully supports and appreciates the Golf Course Advisory Board recommendations. Mayor Pro Tem Dalton stated there can be other uses for the golf course as long as it does not damage the course. The City Council recessed at 5:15 pm and reconvened at 5:28 pm. FINANCIAL FORECAST/REVENUE PROJECTIONS FOR 2014 City Manager Fleming explained each time the budget is presented, the estimates of revenues and expenditures are recapped. Finance Director Watson presented through graphs and spreadsheets, the revenue projections, expenditures targets and resulting fund forecasts as follows: • Revenue Projections: 2013 Estimate • Expenditure Targets, & Resulting Fund Forecasts • Summary of Most Significant Revenue Projections • Summary of Most Significant Expenditure Projections