Title
Discussion: 2016 Budget
Executive Summary: The City Manager has provided a recap of the workshop discussion on September 22, 2015, and has prepared preliminary information for discussion of the 2016 Budget.
Body
Legislative History
Discussion of the 5-Year Plan was held at Council workshops on August 25, 2015, and September 22, 2015.
Purpose & Explanation
Revenue/Expenditure Summary
Council discussed potential use of portions of the carry-over fund balance as a tool toward implementation or completion of currently unfunded capital needs. One policy question to be considered on October 13th is to determine what level the fund balance target should be, if other than the current target of 40%. Previously Council has agreed to use some of the fund balance for the financing of several larger projects including the First and Main Phase 2, Broadband Start-Up and the YDC Redevelopment Project.
Debt
Council discussed use of financing as a tool toward implementation or completion of currently unfunded capital needs. Staff provided information on generally accepted standards. A second policy question to be answered on October 13th is to determine if and how financing should be used.
Major Cost Centers
A chart was distributed showing several major capital cost centers. The suggestion was made to refer the connectivity plan and the construction of trails and sidewalks back to the Ad Hoc committee for additional recommendations on funding and from which funds. Another cost center, fleet, has been modified to increase funding with the intention of balancing the increased funding with reducing maintenance costs, understanding this balance will not happen in the first year of increased funding.
The Electric distribution fund is being funded adequately, and the water distribution fund has been modified using financing tools to smooth the fund balance. This fund will need further review and discussion to begin to identify long-term solutions t...
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