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CC Work Session <br />Meeting Date: 05/01/2012 <br />By: Diana Lund, Finance <br />Title: <br />Continued Discussion of 2013 Budget <br />2.2. <br />Background: <br />At the April 10 worksession, the Mayor presented some benchmarks that he would like to see considered for the <br />2013 budget in regard to road funding, tax capacity rate and staffing percentages. <br />Attached is brief summary of these benchmarks. Staff will be prepared to demonstrate how the numbers were <br />calculated at the worksession. <br />Included in the General Fund budget numbers is $1,500,000 for road improvements. As $3M is the target number <br />needed for funding road reconstructions, staff is in the process of preparing a phase -out program to reach the $3M <br />target, while concurrently eliminating special assessments over time. Staff will forward this information to council <br />on Monday, April 30. <br />An interesting bit of trivia, the city's first road was built in 1974 and, given the 40-year life cycle for roads, starting <br />reconstruction by 2014 is a good target date for implementation. <br />Notification: <br />The cash flow analysis presented at the March 20 and April 10 worksessions is attached as well as the tax capacity <br />implications for years 2013-2016. <br />Funding Source: <br />N/A <br />Council Action: <br />Continued Discussion of 2013 Budget. <br />Mayor's Benchmarks <br />Cash Flows & Tax Capacity Rates <br />Special Assessment Phase Out <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 04/26/2012 04:17 PM <br />Form Started By: Diana Lund Started On: 04/26/2012 03:30 PM <br />Final Approval Date: 04/26/2012 <br />