10-11-2023 Workshop Minutes - Laserfiche WebLink

Home Browse Search

MINUTES OF THE WORKSHOP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA OCTOBER 11, 2023 Pursuant to due call and notice thereof a Workshop meeting of the City Council of Little Canada, Minnesota was convened on the 11th day of October, 2023 in the Council Chambers of the City Center located at 515 Little Canada Road in said City. Mayor Tom Fischer called the meeting to order at 6:00 p.m. and the following members of the City Council were present at roll call: ROLL CALL: In attendance were Mayor Fischer, City Council Members T. Miller, Gutierrez, Kwapick and D. Miller. Absent: None. ALSO PRESENT: Public Works Director Bill Dircks, Finance Director Sam Magureanu, Community Relations Manager Laura Linehan and City Clerk/HR. Manager Heidi Heller. DISCUSS 2024 — 2033 CAPITAL IMPROVEMENT PLAN (CIP) The Finance Director explained that a capital improvement plan (CIP) is a long-range planning and fiscal management tool to match capital needs with funding sources over a ten-year period. He stated that a capital improvement is any equipment purchase, addition or alteration to real property that adds to the value or prolongs the life of assets. He reviewed the types of projects included and the CIP project funds: General Capital Improvement Fund 400; Infrastructure Capital Project Fund 450; Park Lane Fund 456; Fire Equipment Fund 457; Stormwater Fund 603; Water/Sewer Replacement Fund 604 The Finance Director reviewed the expenditures and funding sources for the various CIP funds. He stated that with adding a gas franchise fee this year and the increase in Local Government Aid from the state, the fund balance of Fund 400 is now expected to remain positive over the next 10 years. The Public Works Director explained the city's 15-year pavement management plan and how street conditions were measured. The Finance Director stated that Fund 450 is receiving a boost in revenue by the increase in electric franchise fees, and removing the stormwater expenses from this fund since a new fund specifically for stormwater is being added in 2024. He noted that the stormwater utility revenue starting in 2024 will prevent other funds from going negative. He reviewed the grant funding that the city has received and will continue to request grant funding. He stated that another benefit to planning 10 and 15 years out is being able to search and apply for additional sources of funding. There being no further business, the meeting was adjourned at 7:17 p.m. homas Fischer, Mayor A s• Christopher HeAman, City Administrator