HomeMy WebLinkAbout08-29-18 Finance Com. Minutes1., Be CITY COUNCIL
FINANCE COMMITTEE MEETING OF THE WHOLE
Five -Year Capital Improvements Plan Revi"ew
Wednesday,, August 29,, 2018
Council Chambers
Ms. Alutto called the meeting to order at 6.30 p.ml
Council Members Present: Mayor Peterson, Vice Mayor Arnorose Groomes, Ms. Alutto,' Ms. Dt
Rosa and Ms. Fox. Mr. Reiner arrived at 6.31 p.m. Mr. Keenan was absent (excused),,
Staff,grit esent" Mr. McDaniel, Ms. Crandall, Ms. Mumma, Ms. Readler, Chief Von Eckartsberg, Ms.
Goss, Mr. Earman, Mr. McCollough,, Ms. OCallaghan, Ms. Kennedy, Ms. Richison, Mr. Garwick,
Ms. Cox, Mr. Stiffler, Mr. Syler, Mr. Ashford, Ms. Burness, Mr. Clark, Mr. Anderson, Ms. Rauch,
Mr. Papsidero and Mr. Plouck.
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showed maintenance only. The second sheet shows all projects with the gross cost totaling $207.9
million and the resources to fund the requests. When taking all sources into consideration, the
revenues that are available to fund projects exceed the project costs. If that were not the case,
then staff would be proposing an unbalanced CIP.
Ms. Mumma reviewed the key take-aways, which are:
Ms. Mumma provided a slide illustrating the income tax funded project totals for the proposed CIR
There are nearly $28 million in debt financed projects, $72.1 million in cash funded maintenance,
and $30.5 million in cash funded enhancements and new assets for a total of $130.7 million in
projects over the five-year period. She is not including anything that has any other source of
revenue in the chart shown. She shared a slide showing all of the cash financed projects,
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Mr. Reiner stated that there were no major improvements until Bridge Street. With the land that
remains to be developed, there likely won't be a project of that size again. There is a lot of "fluff"
in the CIP, given things such as replacement and repair of sidewalks at City cost.
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Average Taxable
Income
# of Jobs in
2013
# of Jobs in
2014
# of Jobs in #of Jobs in
2015 2016
# of Jobs
in 2017
&A5000
7002
3899
7 '509
85,640 88048
77,076
Mil
77567
000
58,084
59 28
�318§
u "
�Or 39
51,384
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Mr. Reiner stated that he is fine with the proposed CIP. He has no issue with pushing out the new
City Hall building and he isn"t certain that Hyland Croy improvements are a necessary item at this
time. He could recommend some cuts if Council would like to have those discussions, but he doesn't
believe the City"s financial position warrants thata
Ms. Fox stated that looking at averages would be helpful in determining what to spend. If you
have to take on debt, you don't want to be pushed against a wall. There are some line items that
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Ms. Alutto inquired if the follow-up CIP conversation should occur at the next Council Meeting.
In response to Mayor Peterson's question of staffs intent for Council adoption of the CIP, Ms.
Mumma stated it is scheduled on the September 10 council agenda.
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The meeting was adjourned at 849 p.m.
Acti, Cler If Council