CCP 11-20-2006 Work Session - Laserfiche WebLink

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Pagc3of5 what I am proposing we do in 2007 and future years, However, to the extent that . we add staff or services specifically for TCAAP and identify a funding source, both the expenditure and the revenue will be budgeted in the TcAAP fund, For example, if we decide as a City to add a staffposition specifically to assist with the work load generated by TCAAP, and we negotiate the funding as part of the development agreement or some other mechanism, that would entirely be budgeted within that fund. 4. Attached is a revised version of the "Budget Highlights" document. In this document staff has attempted to capture key changes and highlights that would be of interest to the Council, or to anticipate some of the questions and concerns you may have. POTENTIAL BUDGET CHANGES FOR FURTHER DISCUSSION 1. StafThas suggested 1hat thc City consider conducting a resident survey in 2007, We have obtained a quote for such a survey and it will cost approximately $10,500. StatT is recommending that the Council direct stall to include funding for a survey within the 2007 budget. 2. In the Public Safety Capital budget, staff is recommending a Necds Assessment of Fire Station #1 during 2007. The Lakc Johanna Fire Board has also recommended that we conduct an assessment. As Council has previously been infonned, the Fire Depm1ment is planning for potential reconstmction of Fire Station # I (eunently contemplated in the Fire Capital Plan for 2012.) I am . recommending a needs assessment in order to more accurately assess the status of the building so that we can morc adequately plan for the timing and cost of either repairs/remodeling or reconstmction. Staff has obtained preliminary quotes from experienced engineering/architectural firms and projects the cost for such an assessment to be approximately $5000, Staff recommends adding a $5000 budgct amount in the Public Safety Capital fund for this purpose. ], The proposed budget still incorporates funding for cclchrating Ardcn J-lilIs, Included is $50,000 in expenditures and $22,000 in revenue for a net of $28,000. Without further dircction from Council, we have not adjusted the budget for 2007, While there has been discussion about downsizing the event for 2007, we do not have agreement a1 this timc about the scope of the downsizing, so I have been reluctant to adjust the budget. 4, Thc EDe has presented a Strategic Plan that recommellds a number of items for 2007 implementation. The only itcm that has becn incorporated into the budget at this time is $5,000 in the FDA fund for Business Retention Program activities. GENERAL FUND AND TAX I.EVY DISCUSSION The current proposed budget is based on a 6% increase in the tax levy from $2,523,737 to S2,675,161. A percent in the increase of the tax levy is $25,237. The City has hired Ehlers and Associates to prepare a Financial Plan for the City, to assist us with assessing our current financial status and with making decisions regarding the 2007 budget and tax levy. My primary concern is that while our operating costs can be covered with a 4(% . increase in the tax levy, our fund balances in capital funds arc decreasing (due to significant capital improvement projects) and we need to ensure the viability of1hose