City Council Minutes 2015 10 26 - Laserfiche WebLink

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City Council Special Meeting Minutes October 26, 2015 Page 5 of 17 above the target area over the five-year period The Open Space and Parks Fund will keep their reserves at$3 Million COUNCIL QUESTIONS Mayor Pro Tern Dalton addressed the Summary of Significant Budget Increases slide and noted the increase in paving was projected to be $1 5 Million He noted it is only $800,000 and asked for clarification City Manager Fleming explained the summary is on the dollar amount in each of the items and how much it has changed over the 2015 budget The proposed paving expenditures in the 2016 budget are $830,000 more than the 2015 budget Mayor Pro Tern Dalton inquired in addition to the $830,000 for paving, would this also include the water utility lines City Manager Fleming explained there is a total of$2 85 Million in paving and $815,000 in utility line replacement fora total of$3.6 Million When this is compared to the 2015 budget it is $830,000 more for 2016 Mayor Pro Tern Dalton stated Council asked for$1 5 Million in cuts and an additional $1 Million in the paving budget He asked if the 2016 budget is $1 5 Million more than, the 2015 budget City Manager Fleming stated the 2015 expenditures in paving were $2 25 Million. The 2016 budget proposed to increase the paving budget to $2 8 Million. Utility related expenditures in 2015 were just under$3 Million and will increase to $3.25 Million in 2016 He noted there were several things Council asked for. $1 Million in cuts Staff would come back with $1 5 Million in cuts for Council consideration Mayor Pro Tern Dalton stated the Council asked for$1 5 Million in cuts and $1 Million in street reconstruction City Manager Fleming presented a spreadsheet for expenditures for the street reconstruction program, the pavement booster program, the total paving and the utility line expenditures in 2014 - $1 7 Million; 2015 -$2 3 Million and in 2016 - $2.8 Million is proposed There is $500,000 in paving, $300,000 in utility line expenses Instead of$1 5 Million there is $815,000 and it changes from year to year If Council wants to make it $1 8 Million the Capital Projects can be moved up from 2017 to 2016 City Manager Fleming reviewed the General Fund Forecast and the Open Space and Parks Fund The reserve will be over$3 Million in the Open Space and Parks Fund Based on property values from Boulder County and property values for top open space acquisition, the City's cost would be $2 Million. There must also be a reserve for cash flow purposes The General Fund balance target is above the 20% target for the next five years It will go up to 34% and then will go down over the 5-year period PUBLIC COMMENT John Leary, 1116 LaFarge Avenue, Louisville, CO asked Council to take a long look at the street repair budget item He stated deferred maintenance is the mortal sin of government It is what governments will do if they are afraid to raise taxes but still want