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CC_Minutes_2018_0716
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CC_Minutes_2018_0716
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Roseville City Council
Document Type
Council Minutes
Meeting Date
7/16/2018
Meeting Type
Work Session
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Regular City Council Meeting <br /> Monday,July 16, 2018 <br /> Page 5 <br /> Finance Director Miller concluded by discussing funding strategies and impacts <br /> on homeowners. In 2012, the Council made the following recommendations: <br /> • In 2019, repurpose levy from Arena Bond issue #28 in the amount of <br /> $355,000. <br /> • In 2019, issue an additional tax levy in the amount of $200,000 in the <br /> Pavement Management Program, <br /> • In 2020, repurpose the Park Improvement Program levy (partial) in the <br /> amount of$650,000 from Bond issue#27. <br /> Finance Director Miller then explained staff has new recommendations, based on <br /> more up-to-date information and revised financial projections: <br /> • In 2019, re-purpose the expiring$355,000 debt levy from the Arena bonds <br /> towards the Facilities Fund consistent with the original Plan adopted by <br /> the Council in 2012. <br /> • For 2019, forgo the $200,000 new tax levy originally earmarked for the <br /> Pavement Management Program Fund in favor of waiting until the 2020 <br /> opportunity to re-purpose the expiring $765,000 City Hall/PW Building <br /> bonds to the Park Improvement & Pavement Management Programs. <br /> Based on current projections the expiring debt levy will be sufficient to <br /> bring both of these plans into financial sustainability. <br /> • For 2019, perform a one-time $350,000 transfer of monies from the <br /> Pavement Management Program fund to the Pathways and Parking Lots <br /> Fund to address the higher than-expected City Hall parking lot replace- <br /> ment. Future appropriations from the repurposed City Hall/Public Works <br /> Building debt levy to the Pavement Management Program fund will be <br /> sufficient to bring that fund into financial sustainability despite the <br /> $350,000 transfer out in 2019. <br /> • For 2019, continue to adjust the base rates for the water, sanitary sewer, <br /> and storm sewer as needed to accommodate planned capital replacements. <br /> A more specific recommendation will be forthcoming after the annual util- <br /> ity rate analysis is complete. However, it appears that a 5% increase in the <br /> base water & sewer rates will be needed to address near-term capital re- <br /> placements. <br /> • Tentative for 2020, re-purpose the expiring $765,000 City Hall/Public <br /> Works Building bonds to the Park Improvement & Pavement Management <br /> Plans. Based on current projections, the expiring debt levy will be suffi- <br /> cient to bring both of these plans into financial sustainability. <br /> • For the nearly $3 million in OVAL improvements scheduled for 2021, <br /> pursue special legislation for inclusion in a future State Bonding Bill. <br />
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