City Council Minutes 2020 07 23 SP (Budget Retreat)

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City Council Meeting Minutes July 23, 2020 Page 2 of 5 2021-2022 BIENNIAL BUDGET DEVELOPMENT PROCESS AND FINANCIAL POLICIES Director Watson stated the Council is being asked to review and provide feedback on this process. This process has been amended somewhat due to impacts from COVID. The capital budget requests are handled separately from the operational part. City Manager has reviewed all of the capital requests and those will be presented later in the meeting. She will meet with each department head to review operational requests before those are presented to Council as well. The Council is not being asked to approve the six -year capital plan today but is being asked to give feedback on the items before the final proposal is put together. The City Manager will present her final recommended budget in September. Council will have multiple meetings in the fall to determine a final budget that will be adopted in November. Financial Policies Director Watson noted the financial policies were adopted in 1984 with significant changes in 2015 and again last year. Staff has no recommended changes this year; they are included only for review and guidance. Public Comments — None. 2021-2026 CAPITAL IMPROVEMENTS PLAN (CIP) Director Watson reviewed the latest revenue data and projections by fund. He noted the projections show significant decreases in most revenue areas. Councilmember Lipton noted the revenue numbers for the Rec Center were projected prior to reopening and should be considered very soft at this point. This may impact the transfer from the General Fund. Mayor Pro Tern Maloney agreed these numbers are from the beginning of June and may change. Mayor Stolzmann stated the review of CIP projects will take place by fund. She suggested the water fund items be handled by the Utility Committee so Council does not need to review them today. City Manager Balser noted the CIP that as presented is based on what we can fund this year and still keep $1 M in the CIP fund for emergencies. The focus this year is on the maintenance and preservation of current assets and strategic investments; there are not a lot of new projects.