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06-15-2020-WS
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06-15-2020-WS
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long-term financial planning needs to be done to prepare for the construction of a future fire <br />station, the City is expecting approximately $478,000 in excess General Fund fund balance <br />following the 2019 audit. This amount would normally be transferred to the PIR Fund, however, <br />this amount could be transferred to the Public Safety Capital Fund and used for the City’s share <br />of the land acquisition. If the Council is not supportive of using the excess General Fund fund <br />balance, then an interfund loan could be used to pay the City’s share of the land acquisition. The <br />projected fund balances for the Public Safety Capital Fund are below. Please note that this does <br />not include any excess fund transfers, land acquisition costs, or future fire station costs: <br /> <br />2020 2021 2022 2023 2024 2025 <br />Beginning Balance (5,198)20,322 61,612 (48,498)(92,098)(100,978) <br />Revenues 93,000 93,000 93,000 93,000 93,000 93,000 <br />Expenditures 67,480 51,710 203,110 136,600 101,880 25,000 <br />Ending Balance 20,322 61,612 (48,498)(92,098)(100,978)(32,978) <br />It is normal for fund balances to fluctuate between positive and negative as long as funds are <br />sustainable in the long-term. <br /> <br />Attachments: <br /> <br />Attachment A: Fire Station Location Maps <br />Attachment B: Draft Purchase Agreement
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