City Council Minutes 2019 07 16 - Laserfiche WebLink

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City Council Meeting Minutes July 16 2019 Page 3 of 6 Councilmember Loo would like a definition of "Reserve" included She wanted to clarify the changes do not require a transfer to Open Space & Parks Fund and Rec Fund unless the Council can afford it and want to spend it that way, it is not a requirement to make a transfer Mayor Muckle stated that is the intent of the language Councilmember Maloney stated it is meant to be a consideration of a transfer only if the Council can afford it in any given year Councilmember Stolzmann stated this may not be strict enough to satisfy some residents who want more money dedicated for opens space acquisition Members discussed how reserves may be addressed if they fall below the designated minimum Councilmember Loo wanted to know if the Council can commit funds in the Open Space & Parks Fund for property acquisition Council members clarified the policy stating there would be transfers for acquisition Council members clarified some language in the various policies 2019-2024 CAPITAL IMPROVEMENTS PLAN (CIP) Director Watson said the changes discussed tonight are updates to the 2020 plan already approved He noted a preliminary list of possible CIP additions for 2019 but added this is not a final list. Council members asked some questions about specific projects Mayor Pro Tem Lipton requested the budget estimates for the CIP projects be more accurate and include a better contingency number Members agreed Mayor Pro Tem Lipton felt we are continually being surprised on projects when the costs come in so much higher than the budget. City Manager Balser stated much more detail will be presented with the budget in September Director Watson reviewed the current CIP list and the additions and changes He noted the final estimates of the six -year plan REVENUE ASSUMPTIONS & EXPENDITURE TARGETS Director Watson noted there are very few operational additions in 2020 Most of the anticipated adjustments for 2020 are small Director Watson reviewed the assumptions and expenditure targets for various funds He noted the transfers to Open Space & Parks Fund and Rec is based on the consumer price index so it will go up and down with that.