Minutes - Council - 09/29/1987 - Special

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Fund Balance Sources. He stated that the City Council, during the 1987 budgeting process, did not budget any outlay for park projects. He stated that Handout G indicates plans that the Council wishes to proceedwith in 1988, the deficiency in funds to do so, and possible funding sources to proceed with those plans. Councilmember Cox asked what would happento the the planned 1988 River's Bend Park plans if the Council decides not to fund it. Mr. Graczyk clarified for Councilmember Cox that possible sources of revenue have been identifed and are listed on Handout G for the Council's consideration as available resources and therefore funding would not be a problem. He stated that to provide funds for the plans listed (which includes 1989 plans for Central Park) the City must look for additional funding of $226,645. The following sources were identified and discussed: 1. Donations; 2. Changes in Park Fee Schedules; 3. Special Levy of $77,876; 4. Landfill Trust Fund; 5. General FundFundBalance; 6. TIF; 7. Budget Cuts in other areas. Mr. Hartley added that tax increment financing could beused on River's Bend Park for improvements up to an amount of $30,900. This amount would be in addition to the other funding sources listed on the handout. At Councilmember Sorteberg's request, discussion ensued relative to annual funding of park projects and from where large donations might be anticipated. Mr. Hartley stated that the Council's decision should tie into the overall budget; at what level do they wish to proceed with park funding. The level of funding will determine if the parks will be maintained at their current levels or if they will be scaled back. If we want to keep on our present schedule of park improvements, Mayor Reimann inquired, will the Council have to come up with $103,000 for 19887 The amount was confirmed by Mr. Graczyk. Mr. Hartley again reminded the Council that they have the ability to levy $77,876 more than what is included in the budget through special levies -- but that is the maximum limit. Councilmember Cox stated that when the Council approves the budget it is not necessarily approving specific items but an overall budget. Discussion ensued relative to the position and direction the CityCouncil has chosen to move in respect to park funding for 1988 and the responsibility they have to act on what has already been planned. Mr. Graczyk reviewed the approved and non-approved items listed in the Five Year Parks Capital Improvement Program in Handout G. Mr. Graczyk reviewed the September 14, 1987 draft copy of the 1988 Budget with the Council. He stated that pages 1 - 4 are the actual budgeted items and the remaining pages are supporting material. He reviewed several corrections as follows: City Council/September 29, 1987 Page 4 of 7