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.� � � y� � t _ � i5 l[} l] �� I� I� 1� 1� 1 '� Regular City Council Meeting — DRAFT Minutes Monday, Apri123,2007 Page 32 Council consensus was to adhere consistently to policy in not relying on reserves for annual budget expenses. City Manager Ma�inen clarified that this policy, by his interpretation and application, would direct staff to do an analysis and projection of revenue, with the understanding that they had to work within revenue projections. Mr. M�Iinen emphasized that this would drive proposed expenditures, and dictate what staff initially presented to the City Council as the City Manager's recommended budget for 2008; ob- serving that the recommended budget would be balanced in accor- dance with that policy, whatever implications may be created. Mayor Klausing observed that corrective action may not be able to be taken in one fell swoop; but consistent with City policy, funding mechanisms should be returned to replace all capital assets in an or- derly way. 1� Councilmember Roe questioned if it was the intent to include re- 1� placement of City Hall buildings, or more for ongoing major mainte- �� nance (i.e., roof replacement, HVAC replacement, etc.). �1 �� Mr. Miller advised that this policy looked at all assets, including City �;� buildings; however, he suggested that the City Council look at it for �4 an all-inclusive basis for infrastructure needs (i.e., water, street, build- �� ings) to the extent funding was evident and providing a comfort level �� for Councilmembers. �� �� �� �� :� 1 �� �:� �� �� �� �� 3� �cs Councilmember Roe suggested that there may be policy reasons not to consider replacement of buildings (i.e., City Hall) in sinking funds, and approach voters for a bond referendum, on a case by case basis, for their direction, rather then collecting taxpayer money for a number of years prior to such expenditure. Councilmember Roe asked, and Councilmembers concurred, that staff provide rationale for each op- tion to allow the Council to make a detenx�.i�.ation on the appropriate level of funding. Additional discussion included complementing policies for the Capital Improvement Plan (CIP) policy and the operating budget. � �