Finance Comm Minutes 09-10-2019 - Laserfiche WebLink

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Finance Commission Minutes September 10, 2019 Page 10 of 12 Mr. Trudgeon noted this is all predicated on the State and all that does is change that 12.8 percent and does not change the levy or tax impact to anyone in the community. If looking for tax relief that would not provide the tax relief. Commissioner Reif moved, seconded by Commissioner Harold to support and recommend to the city Council the 2020 Budget proposed by the City Manager. The motion carried unanimously. Establish a Recommendation on the 2020-2039 Capital Improvement Plan Chair Hodder noted at previous Finance Commission meetings the group reviewed the 2020- 2039 Capital Improvement Plan (CIP) along with the preliminary recommended funding strategies. The Council has asked the Finance Commission to establish a recommendation on the CIP funding strategies to be delivered at the upcoming joint meeting on September 16, 2019. Mr. Trudgeon reviewed the adjustment to Strategy One with the Commission. Commissioner Harold reviewed the different scenarios for the Pavement Management Program with the Commission. Chair Hodder liked the recommendation in the Pavement Management Program that annually smaller contributions are made to shore the fund up to get it closer to stability. He did not like the idea of running out in 2035 and thought the founding mothers and fathers of the city that did this thirty years ago intended this to be a long-term asset. He thought his recommendation would be something similar to the second graph but also some clarification on when the internal loan would be paid back to the fund. Mr. Trudgeon explained in relation to that, there are a couple of possibilities that have not been executed, one is the sale of the Fire Station on Fairview along with the possibility of some funds going towards doing that. That is his thought and commitment that it will all be paid back to this fund and is the intention of the city Council as well. It is just a matter of the timing of it. Commissioner Harold reviewed the General Facilities Fund and Park Improvement scenarios with the Commission. Commissioner Harold moved, seconded by Commissioner Reif to recommend to the city Council the Pavement Management Program recommendation with the long-term smaller levy increases, General Facility Fund recommendation which includes the five-million-dollar cash infusion in 2020 and the Park Improvement Program recommendation to add $375,000 in 2020. The motion carried unanimously. Confirm Discussion Topics & Recommendations for the Joint City Council-Finance Commission Meeting