12-12-2016 Council Packet - Laserfiche WebLink

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Potential CIP projects in 2017 include: Shoreline Stabilization (SWMP 13); System improvements performed with road projects; TMDL Updates; and Kelley Avenue drainage improvements. The capital expenditures total $271,500. The funds current cash balance is $1,557,355. Recycling The recycling fund was newly created in 2013. Its major expenditure line is for contracted recycling charges. The current contract with Waste Management is capped at a 2.8% increase. However, as the result of low prices for recycling materials, the Recycled Material Offset (RMO) credit that we receive has been reduced to $0, this has resulted in the fund underperforming compared to the forecasts made when the fund was established. The full time wages that are charged to the fund represent 10% of the City Clerks wages. An additional fall cleanup is included in this budget. The budget is being presented with a 10% increase in rates. The current cash balance is $36,000. Cable The Cable fund was new for the 2015 budget. The projected revenues are based on current subscriber information and rates. The line item for Internet/Other communications covers the costs associated with streaming and online access of council meetings. It has been increased to pay for an increased cost of our fiber internet connection. Revenue for the fund is in the from franchise fees that are set by the City's franchise agreement with Mediacom. The 2017 CIP includes updates to the City Council presentation equipment. The current cash balance of the fund is $106,660. 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 over the past few years. Another work session will be scheduled to discuss the timing and order of road projects. It is possible that the street section will be amended during 2017.