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City Council <br />Meeting Minutes <br />July 23, 2021 <br />Page 3 of 3 <br />updated Capital Improvements Plan; and the financial structures prescribed in the City's <br />Financial Policies. He reviewed the changes to operational turnback targets by fund. He <br />noted it is down in recent years. He reviewed the long-term targets for the major funds. <br />Mayor Pro Tem Maloney was concerned that the long-term projections show the out <br />years in deficit. Councilmember Lipton agreed and noted his concern at growing costs for <br />wages and benefits. <br />Councilmember Brown stated he doesn't support deficit spending but does support <br />responsibly spending down the reserves so the City is not amassing tax dollars, he would <br />like to see it spent responsibly. <br />Mayor Pro Tem Maloney suggested a review of the General Fund reserve policy happen <br />with this budget process; he would like to see the excess reserve funds spent on one-time <br />expenses. <br />Mayor Stolzmann asked the Utility Committee to review the Utility Fund to make sure too <br />much working capital is not being maintained. Councilmember Lipton stated they will work <br />on that and stated that some of that money may be encumbered but the graph is not <br />showing it. Staff and the Committee will come back with more information. <br />BUDGET CALENDAR <br />Members reviewed the proposed budget calendar. <br />Public Comments — None. <br />Mayor Pro Tem Maloney noted the budget process is in a good place this year and <br />thanked staff for the work. Councilmember Leh agreed. <br />ADJOURN <br />Members adjourned at 2:36 pm. <br />Ashley �Jt <br />Izmann, Mayor <br />Meredyth Muth, City Clerk <br />