11-29-94 Council Workshop Minutes

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MINUTES CITY COUNCIL NOVII'4BER 29, 1994 for 1995, and if there were plans to dramatically increase the registration fee. The Parks & Recreation Director replied that the 1995 amount more closely reflects what the City has actually been contributing. Registration fees for 1994 were increased $5.00 over the 1993 level, and there are no plans for a dramatic increase in 1995. Scalze asked if North Suburban Youth Association was still contributing to this program. The Director replied that they were, and estimated that contribution at $1,600 for 1994. Morelan indicated that he felt comfortable with the City~s funding level for the Roseville Area Senior Program since it appears that progress is being made in involvement of Little Canada seniors. Scalze agreed that the Program has done what the City has asked of it. Scalze noted that one of the goals of the program is to become more self-sustaining in the future. The Administrator asked for additional comments or questions about the General Fund. Morelan commented that the carry over of 1994 surpluses to the 1995 budget is a little easier to live with knowing this will not dip into the City's reserves based on the General Fund Reserve estimate. The Administrator reviewed a debt service stabilization proposal which focuses on a levy buy down of approximately $20,000 per year from 1995 through 1999. This stabilizes the combined capital improvement and debt levies for those years at $637,000. In the year 2000, the City's debt levy is dramatically reduced, and in the year 2003 the debt levy would be zero. Total impact of the levy buy down is just over $100,000 to the Closed Bond, MSA and Street Overlay Funds. The Administrator projected that at the end of 1999 there would be a balance of $670,595 in these funds. If the City were to proceed with all the street improvement projects it has identified, that would leave net fund balances at $246,865. 6