2018-03-06 Finance Minutes - Laserfiche WebLink

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&CH;H=?#IGGCNN?? -CHON?MȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚ-;L=B ǸțǴǲǳǺ working toward program evaluation. Chair Quinn acknowledged that across the board cuts can be problematic and asked if Administration is already discussing the kind of possibilities mentioned by Councilmember Kruller. Trimming the budget is an institutional decision and he would like to see a proactive approach from Administration. Councilmember Robertson added consulting fees to the list of things that should be evaluated for cost savings. Staff noted that decision making on the Public Safety Plan budget will occur around May-June, and near-term operational reductions can be part of that discussion as requested. Chair Quinn also requested that the other Council standing committees be briefed on discussions of operational reductions proposed by Administration. #;JCN;F )GJLIP?G?HN 0F;H 0LCILCNCT;NCIH Another tool for the Council to consider is to reprioritize the Capital Improvement Plan (CIP) to dedicate General Fund dollars that transfer to the CIP to the Public Safety Plan. General Fund dollars go to leverage grant funds and other matching funds, and the City has budgeted an average of $3 million per year over the past four years. Council could also choose to reduce but not eliminate the General Fund transfer. In addition, REET 2 funds that are currently dedicated to bridges and arterial streets could go to financing the Public Safety Plan. Chair Quinn requested that staff make thoughtful, professional recommendations around prioritization that will help the Council make defensible decisions. He requested that staff show Committees the potential impacts to projects if certain General Fund reductions are made. Councilmember Robertson noted the Strander Boulevard Extension project assumes a significant General Fund contribution and suggested that the possibility of a Local Improvement District be considered for affected property owners. Staff also noted that Attachment C to the CIP is a good resource for this topic as it shows City funding and grant funding for residential street projects. At the next Committee meeting on March 20, staff will bring updated versions of the financial planning matrix and be prepared to discuss the project schedule and ramifications of delaying certain aspects. The Committee requested to also have a discussion on market conditions. RETURN TO COMMITTEE. III.MISCELLANEOUS Adjourned at 6:27 p.m. Committee Chair Approval -CHON?M <S ,(ț 2?PC?Q?> <S 2"ț 6#