Minutes - Council Work Session - 11/24/1997 - Budget

Home

up through the year 2004, it's still a liquid fund. She reiterated that in 1998, there should be no change in policy plus it accommodates the land acquisition for C.R. #116. This serves to fund projects such as drainage, septic, etc. that are not funded elsewhere. These funds act as a balancing factor for the general fund. If there is excess in the general fund, it's passed off into the PIR, etc. If another fund is short, we draw from these funds. We do not want to drain these funds dry. It makes no sense to make this change in the "eleventh" hour, let's do it in the "first" hour and do it pro-actively. Discussion ensued relating to a couple of projects that could receive money from these funds - such as C.R. #116 and T.H. #47. Ms. Hart stated that the T.H. #47 improvement is a prime issue. We need funding. The vast majority of the area is in Development District. We get both districts - River's Bend and Wood Pond. Both these districts could subsidize T.H. #47 up to a level (25% of increments generated). We should have something in place. There are a couple alternatives for T.H. #47. The off- system MSA funds could be used, however, we would be using all of the construction funds for the next five years. We could use a portion of them, or issue an MSA bond and pay it off over time. Mayor Gamec did not see any way the City could draw from these funds for sealcoating. That has to come from the general fund so we can do #47 and #116 from these funds. He felt that was more important. He suggested maybe taking a million dollars fi.om the fund and then we could also take from the TIF District and also bond for it or use MSA funds. He stated that the City should maintain what it has. We are committed to T.H. #47 and C.R. #116 - we need to do something to help that development out for Art Raudio and Rick Foster. Consensus of the Council was that the Street Maintenance Program should be left as is for 1998. ADJOURNMENT Motion by Councilmember Zimmerman and seconded by Councilmember Beyer to adjourn the meeting. Motion carried. Voting Yes: Mayor Gamec, Councilmembers Zimmerman, Beyer and Beahen. Voting No: None. Absent: CouncilmemberHaas Steffen. The budget worksession adjourned at 7:40 p.m. Respectfully submitted, . jo//l, hieling - ---Deputy City Clerk Jessie Hart Finance Officer Budget Worksession/November 24, 1997 Page 2 of 2