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HomeMy WebLinkAbout06-09-2015 B1 Padilla0 Council Memorandum - June 5 2015 JUN 0 5 2015 TO: City Council �- FROM: Wayne Padilla, Finance and Acoffe ion Technology Director 1 VIA: Katie Lichtig, City Manager COUNCIL MEETINGr Q� rs ITEM NO.: ,�/ SUBJECT: June Budget Hearings Agendpondence T he City Council is scheduled to hold hearings on the 2015 -17 Financial Plan on June 9th, 11th, 16th, 23rd and 30th (if necessary). Material for these hearings was distributed May 26th and May 28th ahead of meetings to provide ample time for review. That material represents a snapshot in time and additional information continues to develop that may be pertinent to the City Council in its financial plan deliberations. This updated information takes three forms: 1) information that relates to budget or fiscal policies that would need to be enacted by the City Council by resolution, 2) format or typographical changes to the financial plan material previously distributed, or 3) corrections to preliminary budget amounts based on information received after the files were sent to the printer. The format and typographical changes are being tracked separately. June 9, 2015 — General Fund Operating Programs Budget or policy items to be considered by resolution • Budget and Fiscal Policies section of the Preliminary Financial Plan. Page H27— Productivity. During the Council meeting held on December 16, 2014 the Council directed staff to include in the policies for this Financial Plan, the following language which was overlooked for inclusion in the Preliminary Financial Plan: "Maintaining City purchasing policies and procedures that are as efficient and effective as possible." • Budget and Fiscal Policies section of the Preliminary Financial Plan. Page H15 -16 — Fund Balance and Reserves. During the infrastructure financing hearing Council held on March 17, 2015, the Council directed staff to include the recommended policies in this Financial Plan. The following language, which was inadvertently omitted, should be included in the Financial Plan: "The Infrastructure Investment Capital Fund has been created to help the City realize the benefits of growth that is well - planned, and that would not occur in a timely manner without City participation in the financing of supporting infrastructure. With respect to resources that are expended from this fund: 1) The use of City funds shall not offset any cost that would be legally required to be paid to meet the fair share obligation of the developer requesting City investment in an infrastructure project. 2) The use of City funds shall not offset a private project's specific mitigation cost identified through the environmental review process or under existing regulations or policies. 3) The use of City funds shall support a project that would not otherwise be feasible in a timely manner due to the economic environment, the timing of the project, or other constraints outside the control of the project proponents or the City. Council Correspondence — 2015 -17 Budget Hearin 4) The project proponents shall demonstrate a significant public benefit associated with construction of the project that merits City participation. 5) Approved projects will have a measurable outcome that will be monitored and reported to the Council and the public." Format or typographical changes • Format or typographical changes that are being tracked separately from this correspondence. • Change headers to consistently read "Public Utilities" instead of "Utilities." June 11, 2015 — Capital Improvement Plan Budget or policy items to be considered by resolution • None identified at this time. 2 Format or typographical changes • The Bicycle Transportation Plan project has been amended to show funding for the Octagon Barn project. The Preliminary Capital Improvement Plan showed the funding as an alternate. • Marsh Street Bridge capital project not consistently included in Sewer Fund. June 16, 2015 — Enterprise Fund Review Budget or policy items to be considered by resolution • Water Fund. The 2015 -16 budget will be amended to reflect additional costs of $179,000 related to the Drought Response Strategy, which was approved by the City Council on June 2nd (Page H -61). The 2016 -17 budget should reflect bond proceeds in the amount of $5 million and additional debt service in the amount of $367,909 in order to match the fund review document that will be reviewed this evening (Page H -61). Staff is requesting that the 2014 -15 forecast shown in the Fund Review document that will be reviewed with Council should be considered to be the final budget of the fund. If Council concurs, the forecast will be reflected in the Adopted Budget (Page H -61). • Sewer Fund. The 2014 -15 forecast shown in the Fund Review document that will be reviewed with Council should be considered to be the final budget of the fund. If Council concurs, the forecast will be reflected in the Adopted Budget (Page H -62). Format or typographical changes • Transit Fund. The original SOPC for the Short Range Transit Plan was provided in the Preliminary Financial Plan and indicates a cost of $500,000 per year. The Transit Fund budget for 2015 -17 reflects the amount of $250,000 per year and the SOPC has been restated to reflect this amount (Page E -89 and H -64). The original SOPC for the Transit Marketing Plan was provided in the Preliminary Financial Plan and indicates a cost of $60,000 per year. The Transit Fund budget for 2015 -17 reflects the amount of $30,000 per year and the SOPC has been restated to reflect this amount (Page E -89 and H -64). • The revenue forecast section narrative will need to be updated to include the adopted water and sewer rates. • Program header title should be "Water Resource Recovery Facility." June 23, 2015 — Financial Plan Adoption Budget or policy items to be considered by resolution • Authorize the City Manager to make format and typographical changes to the final adopted versions of the provided documents.