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City Council <br />Study Session Summary <br />April 25, 2017 <br />Page5of6 <br />Council member Stolzmann said we don't have a good policy around what <br />maintenance and operations needs the city has in in Open Space and Parks <br />Fund because we fund capital projects first. <br />Fleming reviewed sources and uses and discussed how the City calculates <br />reserves. He reviewed targets for funding reserves as well as discussed why the <br />City keeps that money separated, not just transfer, as it is policy. <br />The City will have to plan for escalation of price per acre. Perhaps apply a trend <br />analysis. <br />To achieve a minimum fund balance, the City would end up with negative fund <br />balance. The City needs $2m to comply with existing policy. More information <br />when the City considers the budget amendment and carryforwards. <br />How to cover roughly $3m: <br />• Transfer from general fund <br />• Reduce capital expenditures <br />• Reduce operating expenditure <br />• Secure grants <br />• Adopt new news <br />• Ask voters for tax increase <br />Discussion of funding: <br />Should the City look at all projects including carryforwards? <br />The City needs to consider if it is underfunding maintenance on open space and <br />parks. <br />Carryforward discussion: <br />• Relationship between what the City needs for operations. <br />• Something that will drive a level of service. <br />• Reprogram our appetite for capital. <br />• More on weed control, native vegetation, suggested level of service. <br />There are a lot of things that need to be handled for parks including levels of <br />maintenance. <br />Public: <br />• Do baseline and do research and find out service levels. <br />• Invest in resource management that is data driven. <br />• Reserve for acquisition over time can shrink and move to management <br />• Shift from acquisition mode to management. <br />• Parks struggle with maintenance. <br />