CC_Minutes_2014_0512 - Laserfiche WebLink

Home

Regular City Council Meeting Monday,May 12, 2014 Page 8 bonds, allowing lower interest rates on future bond issues, translating into savings when the City chose to issue debt. Ms. Heaton reviewed the areas considered by the rating agencies and including the economy, economic development, budget performance, flexibility in reserves, and liquidity if strong, overall management of the community, and long-term or strategic planning, which she opined was very, very important, as the City developed its short and most important long-term stra- tegic planning. Ms. Heaton noted that the bond agencies would continue to moni- tor the City and any outstanding bonds over the course of time to ensure it re- mained thinking long-term for the stability of the City and any bond issues going forward. While the City Council and Finance Director Miller may make this look easy, Ms. Heaton noted that it took years and years to get through the ranks to bring the City to this top ranking; and in Springsted's efforts to recognize that significant achievement of its clients, she presented a plaque to Mayor Roe and the City Council, recognizing that the City of Roseville now held a Triple A rating with Standard and Poors, as well as the previous upgrade from Moody's two years ago. Finance Director Miller emphasized the work performed by the City Council over the last few years to address long-term planning and needs for the sustainability of the City and its financial health. Councilmember McGehee thanked Finance Director Miller for constantly keeping the sustainability issues before the City Council and reminding them of their re- sponsibilities in that regarding. Councilmember McGehee attributed Mr. Miller with staying on the right track, echoed by Mayor Roe and Councilmembers Laliberte, Etten and Willmus. 11. Public Hearings 12. Budget Items a. Receive Preliminary Report on the 2015 Budget& Tax Levy Impact Items City Manager Trudgeon introduced this item, noting that it was intended as the first general overview to initiate discussions and define City Council and resident information needs before the May 22, 2014 special meeting to discuss the 2015 budget; and at which time individual department specific budgets and impacts would be presented as part of the entire process. Finance Director Miller briefly summarized information provided in detail in the RCA, and specifically referenced the Table on page 1 of the RCA entitled, "2015 Budget Impacts: Property Tax-Supported Programs." Mr. Miller clarified that this information didn't include any specific operational costs, which would be presented and reviewed on May 22; but did indicate at this time a preliminary to- tal minimum impact estimated at $623,000, as further detailed in the remainder of