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FIRST BUDGET WORKSHOP FOR 1994 <br /> 28 July 1993 <br /> Summary of workshop discussion's impact on the budget <br /> (Attachment 1) <br /> The following items discussed at the workshop directly affect the <br /> 1994 budget in the following ways: <br /> Creating more short videos for cable viewing will increase the <br /> cable budget by about $400 Four videos made for about $75 <br /> each.) <br /> Fine tuning the residential zoning code. This will require about <br /> $1,000 of consulting planner's time which is routinely <br /> budgeted. <br /> Reworking the capital improvement program (CIP) for ten <br /> years incorporating all revenue sources and replacement items <br /> may require the use of a financial consultant to put on a <br /> computer program that deals with long -term debt if it cannot <br /> be done in -house with the purchase of a new software <br /> package. If the outside consultant is used, the cost would be <br /> about $3,000 to $5,000. <br /> II. Fiscal policies (Attachment 2) <br /> The staff is recommending the addition of four fiscal policies. Some <br /> of these are already being followed by the city. <br /> IV B Reserve Policy: At year end, if the general fund <br /> balance has a reserve for working capital at a minimum <br /> balance of 45% of the next year's operating budget, the <br /> remaining reserves will be transferred to the capital <br /> improvement funds on a projected needs basis as <br /> determined by the five year capital improvement plan by <br /> city council approval. <br /> VI B Debt Policy: The city will refinance or call any debt issue <br />