City Council Agenda and Packet 2018 10 23

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SUBJECT: BUDGET PRESENTATION DATE: OCTOBER 23, 2018 PAGE2OF3 Projects Fund expenditures by $1,000,000 between 2019 and 2022. That can be accomplished by eliminating the following projects: a) Downtown Clay/Concrete Paver Replacement b) Downtown Tree Gate Conduit Replacement c) Decorative Street Light LED Conversion d) Open Space, Parks & Trail Directional Signs $330,000 $166,000 $395,000 $139,200 $1,030,200 There are many alternatives to finding the $1,000,000, this is only one example. Staff will be prepared to show in real time during the meeting different dollar amounts and timing for multiple variations to the General and Capital Funds. 7) Updated 2018 revenue and operational expenditure estimates for impacts of hail storm. These adjustments are just for the City's cost to process the roofing permits and the revenue generated from those permits. They do not include the City's costs for repair or for insurance proceeds. Those will be included at a later date via a 2018 budget amendment. 8) Changed methodology for funding the operational deficit and renewal/replacement reserve for capital assets in the Recreation Fund. 9) Increased Recreation Fund revenue budget based on revised projections due to additional increases in fees. 10)Added an additional $20,000 in 2019 and 2020 for the Open Space and Parks Fund for additional tree -trimming and forestry work. 11)Updated General Fund Support transfers. Specific discussion/direction staff needs addressed on October 23, 2018: 1) Agreement on General and Capital Fund transfers to Recreation Fund, including addressing the renewal and replacement reserve and capital needs. 2) Agreement on General Fund transfers to the Golf Course Fund and the placement of Golf Course Capital in the Capital Projects Fund. 3) Agreement on the final revenue, operating expenditure and CIP budgets for the Utility Funds. 4) Agreement on final numbers and inclusion of the middle mile fiber project in the Capital Projects Fund. 5) Agreement on final numbers and inclusion of the Transportation Master Plan First Steps in the Capital Projects Fund. This also includes direction on impact to projected reserves in the General Fund and the Capital Projects Fund and the proposed reduction/elimination of other CIP projects to maintain adequate reserves. FISCAL IMPACT: 2019-2020 budget implications. RECOMMENDATION: Discussion/Direction CITY COUNCIL COMMUNICATION