City Council Minutes 2008 10 01 SP

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City Council Special Meeting Minutes October 1, 2008 Page 6 of 8 are projected for 2010 through 2015. The General Fund will transfer approximately $586,000 to the Golf Course Fund from 2009 through 2012. Beginning in 2013, the Golf Course will begin repaying the General Fund by approximately $150,000 per year. Another assumption is the City will not receive any funds from the Town of Superior for library services. City Manager Fleming reviewed graphs, which illustrated the long-term forecast for the General Fund, Special Revenue Funds; Capital Project Funds; Enterprise Funds; Golf Course Enterprise Funcl; Internal Service Funds and Debt Service. He outlined the budget calendar as follows: Budget Calendar: October 1 - Special City Council Meeting: Updated Revenue Forecasts; Discussion of Proposed Budget -All funds; Updated Long=Perm Financial Plan October 21 - City Council Meeting: Presentation of Proposed Budget; Set Public Hearing Date November 3 - City Council Meeting: Conduct Public Hearing November 18 - City Council Meeting: Resolution adopting the budget Resolution appropriating funds; Resolution levying taxes City Manager Fleming asked Council direction on whether the revenue and expenditure estimates are reasonable; do the areas of emphasis reflect the right priorities; is there sufficient justification for new positions; and do the capital projects adequately reflect the City's needs and can the City maintain services over the long run. COUNCIL COMMENTS Councilor Dalton asked if the revenue projections should be lowered. City Manager Flemings agreed with resf>ect to the short range projections, but noted in terms in the long range, with ConocoPhillips location to Louisville, new housing developments, King Soopers' redevelopment plan, and new businesses along McCaslin, the City would have to w<~it it out. Councilor Dalton noted the Golf Course Clubhouse renovation did not appear on the capital improvement projects and asked if it has been determined whether the expansion would pay for itself. City Manager Fleming noted the clubhouse renovation received a fairly low rating in the citizen survey, but stated he would investigate whether the renovation would generate revenue.