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City Council <br />Meeting Minutes <br />August 8, 2017 <br />Page 3 of 13 <br />Council member Loo noted even with the concern over the rise in property taxes, <br />residents are asking for more amenities She said with that comes increased costs to <br />the City <br />Five -Year Capital Improvements Plan (CIP) Update <br />New C -I -P has been derived from <br />• The original plan adopted by Council November 15, 2016, <br />• Plus the carry -forward amendments and new -project amendments that were <br />adopted by Council on June 6, 2017; and <br />• Adjusted by the latest input from departments on project timelines, cancellations, <br />new cost estimates, etc <br />• Attached to the Council Communication form was an updated C -I -P Summary <br />Report and a copy of the C -I -P Review & Update Report from the July 21 <br />Finance Committee Meeting. <br />Note: The new C -I -P for the Water Utility Fund does not include the proposed budget <br />amendment discussed at the Utility Committee and Finance Committee Meetings on <br />July 21, 2017 <br />Council member Loo asked about shortfalls at the recreation center Intenm City <br />Manager Balser noted staff will come back with several options about how to address <br />any shortfall after looking more closely at the numbers Finance Director Watson noted <br />Council may see some areas for savings dunng this presentation. <br />Finance Director Watson noted at the July 5, 2017 Council meeting, the former city <br />manager talked about increasing the transfer from the General Fund to the Open Space <br />and Parks fund from $500,000 to $1 2 million dollars <br />Mayor Pro Tem Lipton felt the $1.2 million throws the budget out of balance and thought <br />there was not consensus at the July meeting to transfer that much money in the next <br />year. <br />Finance Director Watson suggested looking at the fund financial forecasts and then <br />address the possible $1 2 million dollar transfer <br />Fund Financial Forecasts <br />New 2017 and 2018 forecasts have been developed for all funds and include <br />• C -I -P updates; <br />• Revenue updates, <br />• Interfund Transfer updates; and <br />• Other operational adjustments and budget corrections. <br />• Please note that the wage and benefit amounts used in the fund financial <br />forecasts are the original budgeted amounts for 2017 and 2018 Once the <br />Council decides on any changes to wages and compensation for 2018 and <br />