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Regular City Council Meeting Monday, June 14, 2010 Page 6 Finance Director Chris Miller provided additional background information as de- tailed in the staff report and attachments dated June 14, 2010, as a follow-up to previous discussions held by the City Council on May 17, 2010. That detail in- cluded whether the current ten-year CIP was realistic and whether broader policy discussions on some of those items in the CIP needed more consideration. Staff provided. each major category in summary spreadsheets and narratives; and identi- fied those items having a greater sense of urgency to fund as core functions; and those having more stable funding sources. Department Heads were present to re- spond to any questions or to provide additional detail. Mr. Miller identified the vehicle and equipment funds as the most glaring and urgent problems. Councilmember Johnson identified $20 million over the ten-year period specific to the park system, and how those items would be addressed through prioritization in the Master Planning process. Discussion included inclusion in the Parks and Recreation Master Plan priority recommendations for available and/or potential funding sources (i.e., referen- dum); and how different needs can be addressed by multiple options as the next phase of the Planning process (i.e., implementation), including partnership oppor- tunities. Councilmember Roe suggested that similar implementation plans be utilized for the remaining $80 million of the CIP gap. Further discussion included those funds showing a healthier reserve level at this time with a caution by staff that the current practice of using those reserve funds for operational costs was not sustainable in the long term. Councilmember Pust initiated a discussion on Equipment Certificates for funding vehicles and equipment, above and beyond current state-mandated levy limits. Discussion continued on how those Certificates were issued, with a shorter term (i.e., 5-10 years) as opposed to normal municipal bonding at 15-20 years, and also subjecting them to smaller rates; with staff offering to consult with the City's bond counsel on the actual items for which those Certificates could be used. Further discussion included other levy exemptions available to the City that have not been used in the past (i.e., Police and Fire salaries). Mayor Klausing observed that, while other options may be available, the main City Council consideration was how much could be imposed on the community, and what the community thought they could shoulder (i.e., park infrastructure re- ferendum).