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[BJECT:
<br />DATE:
<br />OPEN SPACE & PARKS FUNDING POLICY
<br />OCTOBER 10, 2017
<br />PAGE 2 OF 7
<br />Capital -Related Revenue:
<br />Grants
<br />Reimbursements & Contributions
<br />Land Dedication Fees
<br />Impact Fees
<br />Total Capital -Related Revenue
<br />Capital Expenditures:
<br />Streetscapes
<br />Snow & Ice Removal
<br />Parks
<br />Open Space Equip, Trails, Etc
<br />Open Space Acq u istio n
<br />Total Capital Expenditures {23
<br />2017
<br />Esti mate
<br />4,800
<br />1(52,500
<br />432,330
<br />198,s30
<br />2013 2019 2020 2021
<br />Rec Bdgt Projection Projection Projection
<br />750,000
<br />•39,120
<br />230,550
<br />19,180
<br />793,460 1,239,120 230,550
<br />27,934 27,500
<br />7,934 7,500
<br />120,579 113,850
<br />602,550 2,193,420
<br />2,065,000 -
<br />2,823,997 2,347,270 714,214
<br />171,742 433,750
<br />Total Capital SurplusI(Deficit) (2,025,537) (1,053,1.50) (483,664)
<br />(152,562) (403,750)
<br />R2} Total's for 2019 - 2021 ere net totegs from proposed C--r-P end ere not shown en deter' above
<br />Combining the operating deficits and the capital deficits gives the total fund deficits,
<br />which fluctuate significantly based on annual appropriations for capital outlay.
<br />2017 2018 2019 2020 2021
<br />Estimate Rec Bdgt Projection Projection Projection
<br />Total Fund SurplusI(Deficit) (2,320,654) (1,369,9.03) (953,574) (719,312) (1,163,2.90)
<br />Without significant expenditure cuts, the Open Space & Parks Fund will need to rely on
<br />new revenue sources or transfers from other funds. As can be seen in the following
<br />chart, without new revenue sources or recurring interfund transfers, the Open Space &
<br />Parks Fund balance declines quickly.
<br />CITY COUNCIL COMMUNICATION
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