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City Council <br />Meeting Minutes <br />July 16, 2019 <br />Page 3 of 6 <br />Councilmember Loo would like a definition of "Reserve" included. She wanted to clarify <br />the changes do not require a transfer to Open Space & Parks Fund and Rec Fund unless <br />the Council can afford it and want to spend it that way, it is not a requirement to make a <br />transfer. Mayor Muckle stated that is the intent of the language. Councilmember Maloney <br />stated it is meant to be a consideration of a transfer only if the Council can afford it in any <br />given year. <br />Councilmember Stolzmann stated this may not be strict enough to satisfy some residents <br />who want more money dedicated for opens space acquisition. <br />Members discussed how reserves may be addressed if they fall below the designated <br />minimum. <br />Councilmember Loo wanted to know if the Council can commit funds in the Open Space <br />& Parks Fund for property acquisition. Council members clarified the policy stating there <br />would be transfers for acquisition. <br />Council members clarified some language in the various policies. <br />2019-2024 CAPITAL IMPROVEMENTS PLAN (CIP) <br />Director Watson said the changes discussed tonight are updates to the 2020 plan already <br />approved. He noted a preliminary list of possible CIP additions for 2019 but added this is <br />not a final list. Council members asked some questions about specific projects. <br />Mayor Pro Tem Lipton requested the budget estimates for the CIP projects be more <br />accurate and include a better contingency number. Members agreed. Mayor Pro Tem <br />Lipton felt we are continually being surprised on projects when the costs come in so much <br />higher than the budget. City Manager Balser stated much more detail will be presented <br />with the budget in September. <br />Director Watson reviewed the current CIP list and the additions and changes. He noted <br />the final estimates of the six -year plan. <br />REVENUE ASSUMPTIONS & EXPENDITURE TARGETS <br />Director Watson noted there are very few operational additions in 2020. Most of the <br />anticipated adjustments for 2020 are small. <br />Director Watson reviewed the assumptions and expenditure targets for various funds. He <br />noted the transfers to Open Space & Parks Fund and Rec is based on the consumer <br />price index so it will go up and down with that. <br />14 <br />