Laserfiche WebLink
City Council <br />Meeting Minutes <br />July 23, 2021 <br />Page 2 of 3 <br />funds. The ending fund balances for many funds are higher than projected; for the <br />General Fund much of that is due to the COVID relief funds. <br />REVENUE ASSUMPTIONS & EXPENDITURE TARGETS <br />Director Watson stated the departments have new revenue estimates for 2021 and 2022 <br />as well as long-term revenue projections for 2023-2026 for revenue that is assessed or <br />collected. The Finance Department has made new revenue estimates and long-term <br />revenue projections for all other general revenue sources. <br />For expenditures, the departments have requested modifications to their original 2022 <br />operating budgets and those changes have been incorporated into the current 2022 <br />expenditure estimates. Expenditure target percentages have been applied to the 2022 <br />estimates in order to develop expenditure projections for 2023-2026. <br />He reviewed the summary of revenue and expenditure actuals, estimates, and <br />assumptions for the major revenue sources. <br />2021-2026 CAPITAL IMPROVEMENTS PLAN (CIP) <br />Director Watson stated the 2021-2026 CIP plan has been updated with the approved <br />changes from this year's budget amendment and new projects requested by the <br />departments. <br />Mayor Stolzmann asked that underpass funding and dark sky lighting costs be added to <br />the CIP list for consideration. <br />Mayor Pro Tern Maloney asked that additional funding be added for open space trail <br />maintenance and for tree maintenance for consideration in the budget process. <br />Councilmember Fahey asked for funding for the new museum campus building be <br />included in the initial list for consideration. <br />Councilmember Brown asked that funding for expanded hours of the branch recycle site <br />be considered for the next budget. <br />Mayor Stolzmann asked if additional funding for Community Park irrigation maintenance <br />could be added as well <br />The new CIP list will be presented for Council consideration later in the budget process. <br />2021-2026 FINANCIAL PLAN <br />Director Watson stated the Financial Forecasts were developed using the actual 2021 <br />beginning fund balances; the updated revenue assumptions and expenditure targets; the <br />