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<br />, <br /> <br />. <br /> <br />. <br />---A~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />Apri115,2004 <br /> <br />Agenda Item 2,C <br /> <br />TO: Honorable Mayor and City Council <br /> <br />FROM: Murtuza Siddiqui, Finance Director/Treasurer """',S <br /> <br />SUBJECT: PMP Funding <br /> <br />BACKGROUND: <br /> <br />The city engineers have prepared an analysis and projection for the up-coming projects through <br />year 2010. I am eurrently in the process of reviewing and analyzing the finaneial data that was <br />. provided by URS. <br /> <br />DISCUSSION: <br /> <br />In addition to reviewing the cost estimates provided by URS and the proposed revenue sourees to <br />finanee the projects, I am also in the process ofreviewing our fund balances, future revenue <br />streams and its potential usage for various PMP and other projects. <br /> <br />As we look into the future for funding various projects, we have to take into aceount that there <br />are no assuranees from the legislature that State Aid will continue long-term into the future, <br />Additionally, cash flow has to be taken into account as well. At a future meeting, a discussion at <br />the City Councillevel has to take plaee with regards to funding options. Bonding can be <br />explored as an option to finance future projects. <br /> <br />RECOMMENDED ACTION: <br /> <br />Finance Director recommends that the Couneil review the proposed PMP projects on a <br />philosophicallevel and to defer a final decision until detailed funding and eash flow projections <br />have been identified/reviewed and agreed by the Council. <br /> <br />. <br />