Laserfiche WebLink
City Council <br />Meeting Minutes <br />October 10, 2017 <br />Page 4 of 6 <br />Interim City Manager Balser asked if Council wants to make changes for 2018 or wait <br />until the 2019/2020 budget process. Director Watson stated for 2018 the numbers are <br />fine and the minimum fund balance is met <br />Mayor Muckle stated he would like to start in 2018 <br />Councilmember Stolzmann asked if we can afford to start using this plan (using the <br />2007 trended number as a base for funding) in 2018. Director Watson said yes, but it <br />will have an impact. It would put pressure on the Capital Fund. Staff will try to make <br />sure recurring operational costs compete against other operational costs and capital <br />competes against capital <br />Interim City Manager Balser asked what they would like to do for 2018. <br />Councilmember Stolzmann suggested a transfer from General Fund for 2018 based on <br />2007 numbers and reclassify the Highway 42 underpass to the Capital Fund. Mayor <br />Muckle seconded. <br />Councilmember Maloney asked what the General Fund transfer would be Director <br />Watson if would be approximately $864K. Interim City Manager Balser stated if you also <br />transfer the underpass to the Capital Fund that will change the numbers also. <br />There was consensus to put this plan in the budget and run the numbers to see how it <br />affects the entire budget. Staff will bring this plan as a part of the 2018 budget for <br />discussion on October 17 <br />OPEN SPACE & PARKS FUND RESERVE POLICY <br />Director Watson reviewed the current policy for fund minimum balance and other <br />options. <br />• Option 1 The targeted fund balance is defined as the minimum fund balance <br />plus cost of acquiring the three highest priority parcels (current policy) valued at <br />$49,000/acre This calculation defines the current target at $1 3 million assuming <br />equal partners in purchases <br />• Option 1(a). The targeted fund balance is defined as the minimum fund balance <br />plus cost of acquiring the three highest pnority parcels (current policy) valued at <br />Assessor's actual value. This calculation defines the current target at $2 2 million <br />assuming equal partners. <br />• Option 2. The targeted fund balance is defined as the minimum fund balance <br />plus cost of acquinng the largest remaining pnority candidate parcel valued at <br />$49,000/acre This calculation defines the current target at $2.2 million assuming <br />equal partners <br />