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SUBJECT: <br />DATE: <br />OPEN SPACE & PARKS FUNDING POLICY <br />OCTOBER 10, 2017 <br />PAGE6OF7 <br />Also at the September 26, 2017 meeting, staff presented an alternative to the above <br />calculation of the General Fund transfer. Under this scenario, the General Fund <br />transfer would be calculated as the total General Fund cost of Parks Operations in 2007 <br />($626,990) inflated to 2019-2021 using the Consumer Price Index. The Capital <br />Projects Fund transfer would remain as proposed. <br />This alternative results in approximately $834,000 more in transfers from the General <br />Fund to the Open Space & Parks Fund from 2019 through 2021. The impacts to the <br />Open Space Fund reserves can be seen in the next chart. <br />9,000,003 <br />8,000,000 <br />7,000.000 <br />6,000,800 <br />5,000,000 <br />4,OOO,W0 <br />1,000,000 <br />1,000,000 <br />Open Space & Parks Fund <br />1f <br />1 <br />2005 2006 2007 2008 2009 2010 2011 2012 2013 2014. 2015 2016 2317 2018 2019 2020 2021 <br />Revenue ® Expenditures '1. Fund Balance -Minimum <br />At the September 26, 2017 meeting, Council requested staff to modify the preceding <br />scenario by removing the transfer from the Capital Projects Fund. The impact on Open <br />Space & Parks Fund can be seen in the next chart. <br />CITY COUNCIL COMMUNICATION <br />