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areas of personnel and field supplies. Despite the net decrease of $316,000, the ending fund balance of approximately $7 million continues to meet the City's fiscal policies. Councilmember McGovern stated that at the last Kottinger Task Force meeting, there was discussion about eventual repair or relocation of the water line that runs down the middle of that property. She asked if this is on the City's capital projects list and if not, whether the cost of relocation would need to be included with the overall project. City Manager Fialho said it is not on the list of water enterprise projects forecasted in the Enterprise Capital Improvement Plan and would have to be wrapped into the overall project. Councilmember McGovern asked staff to look further into the matter. Ms. Wagner provided a brief summary of Sewer and Golf Course Fund adjustments. Staff anticipates a substantial increase in Sewer revenues and expenditures due to an increase in regional sewer rates, for a net income increase of $20,000. Staff is also recommending decreases in revenues ($250,000) and expenditures ($45,000) for the Golf Course Fund, largely attributable to continued decreases in the total number of rounds played. While staff had adjusted the anticipated rounds down to 62,000 for the budget cycle, current data indicates a total of 59,000 rounds for the 2011-12F'Y. She noted that as rounds played decreases, a higher subsidy from the General Fund is required. Councilmember Cook-Kallio noted that while rounds played were near 72,000 when the course first opened, staff also received numerous complaints about how slow the course was. She asked what the ideal number of rounds would be in terms of both revenues and traffic flow. Ms. Wagner stated that the course's capacity is around 75,000 rounds and that staff has worked diligently to improve the pace of play. Mr. Fialho acknowledged the Finance Director and her team, noting that net changes, whether positive or negative, are within a few thousand dollars over what was projected more than a year ago. He congratulated the Council on creating an environment that has contributed to a balanced budget over the last eight consecutive years, without cutting services or substantially reducing staff. Mayor Hosterman noted there were no public speakers. Councilmember Thorne added his own compliments regarding Ms. Wagner's presentation as well as the overall performance of the budget. He voiced some concern over the larger individual adjustments and the fact that total compensation still represents 78% of revenues. He moved approval of the staff recommendation. Councilmember McGovern echoed the Council's thanks and acknowledged staff's vigilance in maintaining a balanced budget. MOTION: It was m/s by Thorne/Cook-Kallio to waive full reading and adopt Resolution No. 12-550 accepting the 2012/13FY Mid-Term Operating Budget. Motion carried by the following vote: Ayes: Councilmembers Cook-Kallio, McGovern, Thorne, Mayor Hosterman Noes: None Absent: Councilmember Sullivan b. Adopt a resolution approving the Capital Improvement Program Assistant City Manager Bocian provided a slide presentation on the mid-term Capital Improvement Program (CIP), noting that the intent is to assess compliance with the City's approved revenue and expenditure program rather than to reprioritize projects. He reviewed financial resources, calling particular attention to the fact that approximately $4.5 million of the total $34 million in revenues is from projected development fees. A key feature of the CIP is the ending balance of$25 million, $15 million of City Council Minutes Page 5 of 10 June 19, 2012