01-17-2008 Charter Packet - Laserfiche WebLink

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Memorandum Date: January 11, 2008 To: Charter Commission From: Gordon Heitke Re: Quarterly Update Five Year Financial Plan Following completion of the 2008 preliminary annual budget, the City Council worked on the Five Year Financial Plan in November and December, completing the final draft in December. The City Council took action on December 17 to extend the December adoption date until January 28, in order to ensure adequate time for their review and the public hearing. The hearing for the plan will be held Monday, January 14, with adoption occurring on January 28. Public Improvement Petitions The City received a petition for the installation of water and sewer services from the West Oaks neighborhood in October. The petition was from 28 (47%) properties. The City surveyed the both the West Oaks and adjacent Otter Bay neighborhoods to measure the public's support for paying for the costs of the feasibility study, utilities and street replacement. The result of the survey was that only 11% of the residents of both areas responded that they were willing to be assessed for these project costs and there was no concentrated pattern of support. The City is informing them that no action will be taken at this time to proceed with the project due to the lack of support. Street Reconstruction Project The ballot question regarding the reconstruction of West Shadow Lake Drive failed with 1606 no votes, 696 yes votes, and 35 blank ballots. Charter Financial Report The 2007 expenditure report for charter administration is attached. As noted, there may be outstanding charges that have been incurred, but not yet received and accounted for.