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16. Adopt a resolution to accept the FY 2016/17 Year-End Financial Report for the Capital Improvement Program (CIP) Budget and amend the FY 2016/17 CIP Budget Ms. Olson presented the staff report and discussed the CIP year-end report for the sewer funds, water funds, miscellaneous funds, parks funds, streets funds and next steps. Mayor Thorne inquired as to why the revenue areas were less than what was projected at the mid-year. Ms. Olson noted that revenues which were projected were mostly due to the developer impact fees and the difficult nature to predict the timing of the developers coming to the City. Councilmember Brown inquired as to the 3.5-million-dollar revenue loss for the street funds. Ms. Olson clarified that the revenue is not lost, however, will be credited during the next fiscal year. Mayor Thorne noted there were no one who wished to address this item. MOTION: It was m/s by Brown/Narum to waive full reading and adopt Resolution 17-983 accepting the FY 2016/17 Year-End Financial Report for the Capital Improvement Program (CIP) Budget and amend the FY 2016/17 CIP Budget. Motion passed by the following vote: Ayes: Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne Noes: None Absent: None MATTERS INITIATED BY COUNCIL - None COUNCIL REPORTS Councilmember Pentin distributed an excerpt from a book by Andrew Brumm and encouraged residents to reach out to the author to obtain a copy of the book. ADJOURNMENT There being no further business, the meeting was adjourned at 8:16 p.m. The Council extended a tribute to our nation's men and women serving in the military. We wish to honor the memories of those who have died in past wars in defense of our country, including those who have died in the current conflicts in Iraq, Afghanistan and Syria. Respectfully submitted, Karen Diaz City Clerk City Council Minutes Page 5 of 5 December 5,2017