Laserfiche WebLink
MINUTES <br />CITY COUNCIL <br />NOVEMBER 19~ 1996 <br />The Administrator reported that he kept this amount as <br />part of the projected budget for 2000 to keep the debt <br />service and capital improvement levies at the same <br />amount. <br />Fahey suggested it would be better not to show this <br />amount in the budget feeling it was an indication that <br />the City intended to spend it. Fahey stated that he <br />would prefer the budget showed zero, and that the issue <br />be discussed in the Council's review of the 2000 <br />Budget. <br />The Administrator indicated that showing the amount in <br />the budget is a way of remembering it. The <br />Administrator stated that he would assume the Council <br />would not keep the capital improvement levy at zero <br />since such action would put that fund in dire straits. <br />The Administrator suggested that perhaps the Council <br />should begin holding workshops to plan for the debt <br />service levy reduction. <br />Morelan felt it premature to hold workshops at this <br />time, and agreed that the City will have to levy <br />something for capital improvements in the year 2000. <br />Morelan felt it made sense to put the $256,000 number <br />in the budget to show these dollars are available as <br />long as the City continues its practice of spending <br />only when needed. <br />Scalze suggested that the $256,000 remain in the budget <br />but be footnoted indicating that further discussion <br />will occur on this issue. <br />Fahey felt the budget document was a five-year plan, <br />and he did not endorse a plan that shows a levy of <br />$256,000 in the year 2000. <br />Morelan felt this was consistent with the previous <br />policy regarding the debt service levy whereby when the <br />debt service levy dropped, the Council allocated the <br />excess funds to capital improvements. Morelan pointed <br />out that the Capital Improvement Fund is projected to <br />have a negative balance in the year 2001. <br />The City Administrator reported that the CIP Fund is <br />projected to have a balance of $72,000 in the year <br />2000. 50% of these £unds would come from the 10% Fund. <br />The Administrator noted that he reduced the allocation <br />for the Historical Society Addition from $315,000 to <br />$250,000. <br />4 <br />