Title
A RESOLUTION ADOPTING IN CONCEPT THE CITY OF HUDSON FIVE YEAR PLAN 2014-2018
Executive Summary: This resolution adopts the City's Five Year Plan for 2014-2018.
Body
Legislative History
A Five Year Plan is adopted annually by City Council.
Purpose & Explanation
The purpose is to adopt the Five Year Plan. The annual appropriations legislation is the formal adoption of the budget.
The following are changes made to the Five Year Plan original draft:
1. The City received the final income tax settlement for 2013. We adjusted the projected income tax revenue based on actual 2013 revenue.
2. The transfer from the General Fund to the Economic Development Fund was reduced $21,000 based on the reduced Atlas Phase II estimate.
3. Added $140,000 per year from 2015-2018 in the General Fund as a placeholder for capital purchases based on prior year's average.
4. Personnel cost was reduced across all funds based on the decrease in the City's health care renewal.
5. Moved the $30,000 Town Hall camera project from the Cable TV Fund to the General Fund.
6. Moved 1/2 employee chargeback from Ellsworth Meadows to Public Works Administration.
7. Removed $100,000 from the Electric Department capital for the Seasons Road power line for the proposed hospital.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted
Supplemental Appropriation Required
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends adoption of the Five Year Plan for 2014-2018.
Submitted by,
Jeff Knoblauch, Finance Director