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City Council <br />Special Meeting Minutes <br />June 24, 2014 <br />Page 8 of 14 <br />City Manager Fleming presented a chart on the Capital Projects projections. <br />City Manager Fleming noted the Capital Project Fund balance is going back up. He <br />noted some of the General Fund balance at the end of the year could be dedicated to <br />the street resurfacing projects. <br />COMBINED UTILILTY FUND <br />City Manager Fleming presented a chart on the Combined Utility Fund History and <br />Projections. <br />COUNCIL COMMENTS <br />Council member Keany asked if the bond was included in the Combined Utility Fund. It <br />was confirmed the bond was included. <br />Council member Lipton asked if the Golf Course loan repayment is reflected in the <br />Combined Utility Fund Projections. City Manager Fleming confirmed it was. Finance <br />Director Watson stated a repayment of $225,000 is scheduled beginning in 2015 and <br />the loan will be paid off in 2021. <br />SUMMARY OF THE FIVE -YEAR CAPITAL IMPROVEMENT PLAN <br />City Manager Fleming presented the summary of the Capital Improvement Plan over a <br />five -year period, totaling $61 Million on various programs through various budgets. <br />COUNCIL COMMENTS <br />Mayor Muckle asked if Council wants to support spending from the Open Space and <br />Parks Fund for operations and maintenance, or does Council support preserving Open <br />Space and Parks Funds. <br />Council member Lipton felt if money is put in the Opens Space Fund, the funds must be <br />used for acquiring open space. <br />Finance Director Watson explained the General Fund still needs to subsidize the Open <br />Space and Parks Funds. There is the one -time transfer and the re- occurring transfers. <br />The Open Space and Parks Fund cannot support the programs without the General <br />Fund subsidy. He explained it is a prominent subsidy based on the expenditures of the <br />Open Space and Park Fund. <br />Council member Loo suggested a definition for the expenses of the Open Space and <br />Parks Fund. Council member Keany requested staff provide different scenarios on all <br />the open space operations taken out of the General Fund. Staff will provide different <br />scenarios for Council consideration. <br />