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<br />Councilmember Specht added that Acting Mayor Riley said it well last time, that he does not love <br />the way the budget looks, but this is what the City needs. He added it would be nice to cut the <br />budget but as the Council goes through the budget, these are the needs of the City and he is <br />comfortable with where the budget is. <br /> <br />Councilmember Musgrove agreed and thanked Finance Director Lund for all of her hard work <br />with changing numbers and getting back to the Council with information. <br /> <br />Acting Mayor Riley told Finance Director Lund how much her work is appreciated. <br /> <br />Finance Director Lund mentioned the $1,900,000 of ARPA funds that will be applied to the roads <br />and asked if it was okay if she applied that money against the road projects this year so she can get <br />that recorded that these funds have been used and it stays in the pavement management fund. She <br />further explained that there will be bond money going towards the roads as well and there are date <br />restrictions and this way she can continue to meet the timelines and it saves the pavement <br />management funds for the roads. <br /> <br />Acting Mayor Riley said he believes everyone would be okay with that and it is just a matter of <br />allocating these funds. He would love to see the money spent as fast as possible, given the City’s <br />resources and abilities the money will still be spent over a number of years, but the roads are <br />currently deteriorating. <br /> <br />Finance Director Lund stated she wanted to make everyone aware because there will be a single <br />audit on it this year. <br /> <br />Acting Mayor Riley asked if the single audit is only for this year. <br /> <br />Finance Director Lund explained that there is one each year if it exceeds $750,000 in federal <br />dollars and there will most likely be one next year also. <br /> <br />Acting Mayor Riley asked if it was a major program with its own reporting. <br /> <br />Finance Director Lund said yes. <br /> <br />Acting Mayor Riley asked if this would be done in one year. <br /> <br />Finance Director Lund stated the $1,900,000 would be used up this year as well as the police <br />cameras so the City may fall below the $750,000 for next year since only $375,000 will be used <br />for the spray patching. She discussed since the Council had already decided to issue debt by the <br />end of the year and with December 13 being the last Council meeting, the bond issuance needs to <br />be started the same night the levy is adopted, which will be September 27. During this meeting it <br />will be called for a public hearing since the City is issuing road reconstruction bonds which are <br />subject to reverse referendum so there is a 30 day waiting period, where it would ask for a public <br />hearing on September 27, go to the paper on September 30, the public hearing would be held on <br />October 11, the rating will be on December 5 and it will be brought for the sale of bond at the <br />City Council Work Session / September 13, 2022 <br />Page 7 of 16 <br /> <br />