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Finance Commission Minutes July 12, 2016 – Draft Minutes Page 4 of 7 Chair Schroeder stated the only way to fund the Golf Vehicle and Equipment Fund would be 135 through levy or increased use of the facility. 136 137 Finance Director Miller stated based on scenario 2, the Fund would require a subsidy of about 138 $50,000 annually to be sustainable. 139 140 Commissioner Zeller stated the City currently subsidizes the operating expenses for the club 141 house and golf course. 142 143 Commissioner Hodder requested Vice Chair Rohloff prepare a scenario reflecting additional 144 revenue of $50,000 annually. 145 146 Vice Chair Rohloff stated he would prepare scenario 3 reflecting $50,000 new revenue for 147 Commissioner Konidena for the Task Force meeting. 148 149 Finance Director Miller reviewed the Summary of All Capital Funds as they are today and the 150 detailed reports. 151 152 Chair Schroeder clarified the reason there was only a deficit of $32 million was because the 153 report started with a cash balance. If the beginning balance was the actual revenue versus the 154 expenditures, it would be a larger gap. Moving forward the gap would be $50 million using the 155 same numbers. 156 157 Commissioner Zeller expressed concerns that the City has overburdened itself administratively 158 with tracking all the different funds. He clarified there were no expenditures entered for the 159 parks in 2036 and once these have been identified the deficit would be greater than what is being 160 reflected at this time. 161 162 Finance Director Miller stated the bigger and more urgent challenges are in the tax supported 163 funds. In the tax supported programs there would be a short fall of approximately $26 million 164 over the next 20-years. Long-term there may be problems with the fee supported programs and 165 the City will need to be mindful of what they do with the water and sewer rates in the future. 166 The City reviews the water and sewer rates annually and makes the appropriate adjustments. 167 168 Chair Schroeder stated when considering the scenarios, the Commission should keep in mind 169 that the CIP was only one of the components in the tax levy. 170 171 Chair Rohloff suggested Commissioners review the scenarios and provide their 172 recommendations for the Commission to discuss at the August meeting. 173 174 Commissioner Hodder stated he would like to see a scenario that reflected a 50/50 match for the 175 OVAL. 176 177 178 Review 2017 Tax Levy Scenarios & Impacts 179 Item #3: Attachment A