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the City’s streets, park improvements, and new pathway construction. That determination was <br />left for future Council consideration. <br />Given these considerations, the following funding recommendations are submitted by Staff. <br />&´­£¨­¦ 2¤¢®¬¬¤­£ ³¨®­ Ͱΐ®¥ Γ <br />&®± ΑΏΐΔǾ re-purpose ³§¤ ͡160ǾΏΏΏ ³ · «¤µ¸ ¥±®¬ ³§¤ 3³±¤¤³ Bond #25 ³® ³§¤ <br />0 µ¤¬¤­³ - ­ ¦¤¬¤­³ 0±®¦± ¬ <br />.This will extend the Program’s solvency until <br />2023, however additional funding increases are recommended for 2016 and beyond to <br />ensure financial sustainability. <br />&´­£¨­¦ 2¤¢®¬¬¤­£ ³¨®­ ͰΑ®¥ Γ <br />&®± ΑΏΐΔǾ increase ³§¤ ³ · «¤µ¸ £¤£¨¢ ³¤£ ¥®± '¤­¤± « & ¢¨«¨³¨¤² Ȩ¨­²³¤ £ ®¥ <br />¯ ³§¶ ¸ ¬ ¨­³¤­ ­¢¤  ² ®±¨¦¨­ ««¸ ±¤¢®¬¬¤­£¤£ȩ ¡¸ ͡55ǾΏΏΏȁ 4§¨² ¶¨««  ««®¶ <br />¥®± ³§¤ ¯ ±³¨ « ±¤²³®± ³¨®­ ®¥ ±¤²¤±µ¤ ¥´­£² ³§ ³ ¶¤±¤ ´²¤£ ³® ¢®¬¯«¤³¤ ³§¤ ­¤¶ <br />¥¨±¤ ²³ ³¨®­ȁ !¯¯±®·¨¬ ³¤«¸ ͡ΓΏΏǾΏΏΏ ¨­ ´­¯« ­­¤£ ´²¤ ®¥ ±¤²¤±µ¤² ¨² ¤·¯¤¢³¤£ ³® <br />¡¤ ´²¤£ ¥®± ³§¨² ¯´±¯®²¤ȁ )³ ¶¨««  «²® ¨¬¯±®µ¤ ³§¤ «®­¦-³¤±¬ µ¨ ¡¨«¨³¸ ®¥ ®´± <br />facilities. <br /> <br />)³ ¨² ¥´±³§¤± ±¤¢®¬¬¤­£¤£ ³§ ³  ££¨³¨®­ « ¥´­£¨­¦ ¨­¢±¤ ²¤² ¡¤ ¤­ ¢³¤£ ¥®± ΑΏΐΕ <br /> ­£ ¡¤¸®­£ ³®  ¢¢®¬¬®£ ³¤ ­¤ ±-³¤±¬ ²¢§¤£´«¤£ ¨¬¯±®µ¤¬¤­³² ¥®± #¨³¸ ( ««Ǿ <br /> ±¤­ Ǿ /6!,Ǿ  ­£ ¢®¬¬´­¨³¸ ¦¸¬²ȁ <br />&´­£¨­¦ 2¤¢®¬¬¤­£ ³¨®­ ͰΒ®¥ Γ <br />&®± ΑΏΐΔǾ increase³§¤ ³ · «¤µ¸ £¤£¨¢ ³¤£ ¥®± ¯ ³§¶ ¸ ¬ ¨­³¤­ ­¢¤ ¡¸ ͡ΔǾΏΏΏȁ <br />4§¨² ¶¨««  ««®¶ ³§¤ ¯ ³§¶ ¸ ¬ ¨­³¤­ ­¢¤ ¥´­£ ³® ¤·³¤­£ ¨³² ²´²³ ¨­ ¡¨«¨³¸ ¥®± ³§¤ <br />­¤·³ ΐΏ ¸¤ ±² <br />. <br />&´­£¨­¦ 2¤¢®¬¬¤­£ ³¨®­ ͰΓ®¥ Γ <br />&®± ΑΏΐΔǾ ¢®­³¨­´¤ ³®  £©´²³ ³§¤ ¡ ²¤ ± ³¤² ¥®± ³§¤ ¶ ³¤±Ǿ ² ­¨³ ±¸ ²¤¶¤±Ǿ  ­£ <br />²³®±¬ ²¤¶¤± ² ­¤¤£¤£ ³®  ¢¢®¬¬®£ ³¤ ¯« ­­¤£ ¢ ¯¨³ « ±¤¯« ¢¤¬¤­³²ȁ ! ¬®±¤ <br />²¯¤¢¨¥¨¢ ±¤¢®¬¬¤­£ ³¨®­ ¶¨«« ¡¤ ¥®±³§¢®¬¨­¦  ¥³¤± ³§¤  ­­´ « ´³¨«¨³¸ ± ³¤ <br /> ­ «¸²¨² ¨² ¢®¬¯«¤³¤ȁ <br />Final Comments <br />With these funding recommendations and future inflationary-type funding increases, most of the <br />City’s day-to-day operations can continue at established levels for the next ten years. However, <br />multi-million dollar annual deficitsremain in the funding for the replacement of city facilities, <br />the Pavement Management Program, Park Improvement Program, and Golf Course operation. <br />It is recommended that the long-term financial viability of the golf course be addressed in 2014. <br />The long-term funding challenges for city facilities and the Pavement Management and Park <br />Improvement programs should be addressed no later than 2015. <br />Page 8of 9 <br />