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City Council <br />Meeting Minutes <br />October 23 2018 <br />Page 3 of 8 <br />renewal and replacement reserve in 2024 Operational reserve will be separate from <br />renewal and replacement. <br />CAPITAL AND GENERAL FUND TRANSFERS TO THE RECREATION FUNDS AND <br />RENEWAL AND REPLACEMENT CONSIDERATIONS <br />Mayor Pro Tem Lipton noted the Recreation Fund becomes self -funded notwithstanding <br />the General Fund transfer Councilmember Maloney felt the calculations were <br />reasonable Mayor Pro Tem Lipton suggested a line showing the targeted reserve in the <br />Recreation Fund <br />Councilmember Loo asked if an assumption is being made that staff does not have to <br />separate old and new parts of the recreation center The answer was they will not have <br />to separate. Councilmember Loo asked if there was a big Capital Improvement Project <br />(CIP) request, will that come out of the Recreation Fund or CIP funds. City Manager <br />Balser noted there is a transfer from the General Fund, but ultimately those projects <br />funds will come out of the Recreation Fund Councilmember Maloney noted there are <br />calculations built into the budget to help cover those types of expenses. Mayor Pro <br />Tem Lipton noted this is just the plan and future Councils will have to decide where <br />funds come from if there are catastrophic events causing damage needing replacement. <br />Councilmember Stolzmann still felt there should be a written fiscal policy and decide <br />what kind of tax and fee revenue will be generated and if the transfers continue to be <br />necessary <br />Mayor Pro Tem Lipton noted the budget will be revisited when there is better <br />information Councilmember Maloney agreed and suggested the Finance Committee <br />could take a look. He thought if the reserve was over -funded we could consider getting <br />rid of the General Fund transfer to the Recreation Fund and noted there has already <br />been an increase in memberships at the Recreation Center <br />Councilmember Stolzmann asked if the CIP fund would contain any recreation projects. <br />Director Watson clarified the CIP fund would not contain Recreation Center/Memory <br />Square projects. He could move more if Council desires. <br />Councilmember Stolzmann noted with money from different places now in the <br />Recreation Fund, that fund is not synonymous with the recreation tax and there are <br />restrictions on the tax. There is a need for a fiscal policy <br />Councilmember Leh asked when Council would look at the fiscal policy City Manager <br />noted staff would bring it back in 2019 <br />INCLUSION OF ADDITIONAL CIP PROJECTS AND RESULTING IMPACTS TO <br />GENERAL AND CAPITAL FUNDS <br />