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station as well as the public works building. A further explanation of this is included in the <br />agenda packet under its own heading. (50% - General Capital Improvement Fund and 50% <br />Water & Sewer Capital Replacement Fund) <br />The Infrastructure Fund #450 primarily funds our street reconstruction/maintenance program. <br />You will note we try to maintain a fund balance of over $1,000,000. With our various revenue <br />sources, we generate about 1.2 million per year in revenue so ideally, we would have a similar <br />amount in project costs. However, County projects and other needs make that difficult to <br />achieve on a regular basis. <br />The Water & Sewer Capital Replacement Fund #604 is funded by depreciation in the Water and <br />Sewer enterprise funds. This generates about $300,000 a year. With the construction of the new <br />Public Works building, we are committing about $230,000 a year to fund debt service associated <br />with that project. Even so, we are still able to maintain a healthy fund balance while also <br />meeting on-going needs. <br />The Council should review the items listed in each of those budgets and determine if any <br />changes are necessary. In adopting the actual budget, we are only committing the items <br />proposed for the current budget year. However, all items merit review at this time. <br />Actions Needed: <br />At Monday's meeting, the Council can provide any direction they are comfortable with. <br />Ideally, we would like to get the budget into final form by our 2nd meeting in November, <br />subject to the hearing/adoption process in December. We can use those two weeks to <br />answer questions if necessary. <br />5 <br />