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Regular City Council Meeting Monday, November 16, 2015 Page 14 to those scenarios by the Finance Commission with a one-time cash infusion of $400,000 and 2/3 allocation of all future monies, assuming a 10-year average as indicated historically of $170,000. Given those assumptions, Vice Chair Rohloff noted it would result in a$2.4 million shortage in funding existing parlc assets. Vice Chair Rohloff noted that the Finance Commission's recommended policy, as recently adopted by the City Council, stressed inaintaining existing assets versus new acquisitions. Specific to Parlc Dedication Funds, Councilinember Willmus suggested an aster- isk noting that those funds could fluctuate annually; asking that as development and redevelopinent saw an increase in activity, that be lcept in mind. Vice Chair Rohloff duly noted that variable in forecasting assumptions; however, reiterated that the task to the Finance Cominission was to annually review fund balances, expressing assurance that all variables would be kept in mind. At the request of Mayor Roe, Vice Chair Rohloff confinned that the Finance Coinmission's 10-year historical review had included those variables in arriving at the aru�ual $170,000 average input. At the request of Councilmember McGehee, Vice Chair Rohloff clarified the Fi- nance Commission's recoirunendation to set aside $900,000 for park acquisition with $400,000 dedicated to CIP needs; and 2/3 and 1/3 allocations as noted by the Finance Cominission's recommendations going forward, but not recommending any new monies being added. Commissioner Hodder noted that the intent was to restore the gap over a 5-6 year period, and if no money was allocated to CIP, that gap would continue to grow. Councihneinber Laliberte thanked the Finance Commission and Parks & Recrea- tion Commission for working together and for providing their differing view- points to inform City Council decision-making. Councilmeinber Etten noted he was not cormnitted to a minimum of $900,000 or $1 inillion. However, after the Owasso Ballfields acquisition, Councilmember Et- ten noted that would consume a significant amount of that allocation of $600,000 for acquisition and $400,000 in CIP, leaving a balance under $300,000. Coun- cilmember Etten stated that this already created an issue with little money availa- ble to provide the requested flexibility in the near future, of which he was con- cerned. Regarding the referenced einail from Finance Director Miller, and based on his lack of preference for maintaining either miniinum balance, if retaining the two funds, Councilmember Etten opined that it seemed prudent that the City Council not initially spend froin that based on discussions with the Parlcs & Recreation