12-14-2015 Councill Packet - Laserfiche WebLink

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costs associated with streaming and online access of council meetings. It has also been increased to pay for a share of the new fiber internet costs. Revenue for the fund is in the form franchise fees that are set by the City’s franchise agreement with Mediacom. The funds current cash balance is $70,000. Construction Funds The City does not adopt formal budgets for construction funds. Possible projects for these funds can be found in the CIP. The CIP is a planning tool only; the projects identified in it will require individual approval from the Council before they can be started. Capital Improvement Plan In 2012 the City formally adopted a Capital Improvement Plan (CIP). In order to keep the CIP useful, it is updated on a yearly basis. It outlines anticipated large budget expenses and provides long term planning for future expenses. The CIP is useful for elected officials in the budget review process and shows how today’s decisions impacts future fund balances. Approving the CIP does not authorize any expenditure. Staff is still required to bring any expenditure to Council for approval. Council has discussed the Draft CIP at prior work sessions, and many of the comments and concerns raised have been addressed in the current document. Long term road funding has been discussed at length over a number of work sessions in the past year. Another work session is scheduled in April to discuss the timing and order of road projects. It is possible that the street section will be amended during 2016. COUNCIL ACTION REQUESTED Motion to adopt the attached resolutions approving the final tax levy to fund the 2016 budget; approving the final General Fund 2016 budget; approving the 2016 Special Revenue Fund Budgets; and approving the 2016 Enterprise Budgets including approval of the 2016 CIP.