CCMIN062111SP - Laserfiche WebLink

expenditure obligations for the City. They have said that upon adoption of the Housing Element which will occur at the end of the calendar year, they will have a good sense of what build-out looks like over the next 10 years. Ms. Wagner has begun to prepare what the City's revenue forecasts are and what their expenditure obligations are from a service delivery standpoint. This will be the appropriate time for the Council to have a comprehensive discussion on what service levels look like at General Plan build-out, what is the expectation, and how does staff deliver it, measure it, and manage costs. Mr. Fialho suggested bifurcating the operating budget which needs to be adopted, discussion about pension reform, and thirdly, a longer term planning and fiscal study that takes the City beyond 10 years and factors in residential development and commercial growth, plan for service delivery and revenue forecasting in a very comprehensive fiscal model, which Ms. Wagner would prepare for the Council. Councilmember Thorne asked that Mr. Fialho's suggestions replace the original motion. MODIFIED MOTION: It was m/s by Thorne/Sullivan to 1) adopt Resolution 11-464 approving the 2011/12FY and 2012/13FY Operating Budgets and the 2011/12FY Community Development Block Grant Program; 2) that the City Council hold discussion regarding pension reform; and 3) that staff prepare, the Council discuss, a longer term planning and fiscal study that takes the City beyond 10 years and one which factors in residential development and commercial growth and plans for service delivery and revenue forecasting in a very comprehensive fiscal model. Motion carried by the following vote: Ayes: Councilmembers Sullivan, Thorne, Vice Mayor Cook-Kallio Noes: None Absent: Councilmember McGovern, Mayor Hosterman BREAK: Vice Mayor Cook-Kallio called for a 5-minute break at 8:53 p.m., and thereafter, the Council reconvened their regular meeting. 21. Adoption of the Four Year Capital Improvement Program for fiscal years 2011-2012 through 2014-2015 Mr. Bocian gave a PowerPoint presentation of the Capital Improvement Program (CIP) and provided an overview and explanation of the CIP, which he explained is a comprehensive fiscal plan for capital improvements over the next 5 years through dedicated funding sources. The first two years of the plan are funded, the City holds a mid-term session prior to the start of the next fiscal year and the final two years are for planning purposes. The CIP is comprised of 47 projects in the first two years and 50 in total. Expenditures are at $36 million and total revenue is $53.9 million. He described staffs review of projected funding sources, City Council priorities, meet with department managers, utilize analytical tools, and establish replacement schedules, and gave an overview of financial resources and planning assumptions made in the CIP, stating that assuming no changes are made, the City will have a balance of $17 million. Mr. Bocian discussed sources of revenues, projected transfer of General Fund monies in the final two years of the CIP, funds used in street projects, anticipated development revenues, a comparison between 2009/10 and 2011/12, the comparison annually between the amount of revenue and expenditures, and ending fund balances. City Council Minutes Page 6 of 9 June 21,2011