City Council Minutes 2014 10 14 - Laserfiche WebLink

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City Council Meeting Minutes October 14, 2014 Page 22 of 23 not reflect it must be at minimum. He was bothered the revenue projections might be off and preferred to be conservative. Council member Stolzmann noted in the past the Capital Projects Fund has had some reserve level. Although there is not a specific policy, the current budget has the fund balance going to zero. She stated it was a combination of things with the flooding. She felt it was the responsible thing to do to make sure the reserves are maintained. Council member Loo was concerned over what is being spent and not on what amount of revenue is coming in. She felt department heads could look at their budgets and make cuts. Mayor Muckle asked City Manager Fleming to tell the Council what he is paring down. Council member Lipton suggested establishing a soft target number. He supported reviewing a list of priorities to see what could come off the list. He was supportive of asking for some additional work on the budget. City Manager Fleming was comfortable putting together a list of actions which Council could review. He stated the revenue estimates are cautious and conservative, but subject to variables. Staff relies fairly closely on the numbers and tends not to build all the projects listed. The turn -backs are a reasonable assumption. The 2015 and 2016 budget brings the General Fund to the minimum reserves. The General Fund and the Open Space and Parks Funds will experience a rapid increase after that point. Staff will bring back a list of suggested projects. CITY MANAGER'S REPORT ADVANCED AGENDA City Manager Fleming reported the next meeting on the budget is the public hearing on October 21, 2014. He asked if there were any questions on the advanced agenda. There were no questions or comments. DISCUSION ITEMS FOR NEXT STUDY SESSION ON OCTOBER 28, 2014 AND POTENTIAL FUTURE AGENDA ITEMS No items to report. ADJOURNMENT MOTION: Mayor Muckle moved to adjourn, seconded by Mayor Pro Tem Dalton. All were in favor. The meeting was adjourned at 10:35 p.m.