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City Council <br />Meeting Minutes <br />October 1, 2019 <br />Page6of9 <br />Director Watson stated the initial 2020 Operating & Capital Budget was informally <br />approved during the 2019-2020 biennial budget process The updated 2020 Budget will <br />be presented for formal adoption on November 4 includes updates to <br />• Revenue estimates and assumptions <br />• Expenditure estimates and targets <br />• Capital Improvements Plan <br />• Interfund transfer projections <br />• Long -Term Financial Plan <br />Director Watson reviewed the revenue estimates and assumptions for the General Fund, <br />Open Space & Parks Fund, Historic Preservation Fund, Recreation Fund, and Capital <br />Projects Fund He also reviewed expenditure estimates for 2020 by fund <br />He stated wage and benefit projections include one new full-time Police Officer proposed <br />for 2020, a proposed 3% merit increase for all employees, and market adjustments per <br />salary survey proposed for 2020 <br />Director Watson reviewed the budget changes of $10,000 or higher Most of these are <br />departmental requests, some are corrections or changes we know will be needed <br />Mayor Pro Tem Lipton noted his concern that some of these costs are not one-time but <br />rather ongoing costs He would like a process change for future years that would clarify <br />one-time costs from ongoing expenses <br />Director Watson reviewed the Capital Improvements Plan The initial 2019-2024 Capital <br />Improvements Plan was developed during the 2019-2020 biennial budget process and <br />was published in the 2019-2020 Biennial Operating & Capital Budget document The <br />updated Capital Improvements Plan includes significant changes approved at the June 4 <br />budget amendment hearing and additional changes proposed with the 2020 <br />Recommended Budget <br />Director Watson reviewed the long-term financial plan which was developed using <br />revenue estimates and assumptions, expenditure estimates and targets, updated Capital <br />Improvements Plan, and updated interfund transfers He reviewed the long-term numbers <br />for each fund He noted the Golf Fund Tong -term funding is still under discussion with the <br />Finance Committee <br />Public Comments — None <br />Mayor Muckle stated the Finance Committee recommended the budget move knowing <br />the Golf Fund capital issues will need to be addressed in detail in the next biennial <br />budget <br />Councilmember Stolzmann asked if the Pine Street improvements discussed earlier <br />would be paid by the funds set aside for the TMP Director Watson stated yes <br />