City Council Minutes 2015 06 09 SP

Home Browse Search

City Council Special Meeting Minutes June 9, 2015 Page 11 of 12 Council member Lipton asked if a 20% reserve target was a magic number. Finance Director Watson said it reflected the CGFOA standard and noted he would like to see it higher to help financial resiliency. Council members expressed a desire to-increase the reserve targets. Council member Lipton noted he would support staff looking at departmental priorities to moderate the growth in spending. City Manager Fleming asked the timeframe to increase the target in the General Fund. Council member Lipton noted if the target was 22% he would like to see it in 3 years. Mayor Muckle felt that was likely to happen with the current projections. Open Space — Council member Lipton wanted to re -visit when properties might be available to see if we are over funding at the expense of other projects. Mayor Muckle suggested looking at this in the Finance Committee. Council member Stolzmann wanted to account for what transferred money was being spent on and being transparent about how general fund money is being spent. Recreation Center — Council member Loo was willing to raise the non - resident fees. Council member Lipton suggested varying the rates before making assumptions about impacts on revenues; needs to be tested. Mayor Muckle noted there are some cost recovery goals to keep in mind. R.J. Harrington,, resident, noted he had submitted an email concerning socially responsible investing. He proposed this deserved a hard look. He asked Council to look at what the investment policy was and how it affected the future of the City. Council member Stolzmann noted socially responsible investing could be a topic of discussion to understand what people in the community thought. Council member Keany noted socially responsible investing has very different meanings for different people. Mayor Muckle noted it could be discussed at the Finance Committee. Council member Loo noted we hire investment advisors and she was confident in their advice. Potential Contributing Projects Council members decided to discuss the contributing projects at the July 14, 2015 City Council meeting. Significant Dates 2016 Budget Process • July 10, 2015 — Departments submit 2016 operational budget requests to Finance • September 15, 2015 — City Manager presents Recommended Budget to City Council • Monday, September 21, 2015 — City Council reviews recommended budget at study session (special meeting)