Laserfiche WebLink
<br /> <br />Mayor Rafferty inquired as to insurance requirements. Mr. Kavan confirmed he will have a <br />liability policy. <br />2. 2024-2028 Financial Plan <br />Finance Director Hannah Lynch provided a brief overview of the 2024 -2028 Finance Plan <br />which was prepared in accordance with the City Charter. She provided information on <br />changes to the tax rate over the next several years. She noted that staff is seeking Council <br />acceptance of the plan on December 11, 2023 as a guiding document for the City. <br />Mayor Rafferty commented on the increase to the street reconstruction program; he asked <br />if there was a specific reason for the increase. Director Lynch noted that the pa yment <br />management funding increase is tied to the overall condition index (OCI); in an attempt to <br />make sure that OCI stays in the same range, the proposal is to increase the payment <br />management funding to 15%. <br />Councilmember Stoesz inquired about previous Council discussion to accept this plan at a <br />work session and asked if that is possible. Director Lynch clarified that the Charter requires <br />formal adoption by resolution to accept the finance plan following a public hearing. <br />Mayor Rafferty also commented on unmarked and marked patrol vehicles as outlined in the <br />plan; he asked how long the push for five vehicles has been underway as he recalled only four <br />being requested in previous years. He asked staff to provide information for that in the future. <br />Director Lynch noted that the plan includes assumptions to help with planning. <br />Council recessed from the Work Session at 6:40 to walk to the Public Safety Department to <br />view the kitchen area that is proposed in the plan for remodeling. The Work Session <br />reconvened at 6:45 PM. <br />3. 2024 Budget and Tax Levy <br />Finance Director Hannah Lynch presented the final 2024 budget and tax levy that will be <br />presented for formal approval on December 11, 2023. She noted that in order to keep the <br />levy at 14.1% and revenues equaling expenditures, the contingency in the budget did <br />decrease from $25,000 to $5,489; she added that there is still a base budget of $75,000 in <br />the contingency but the changes removed the ability to increase the full contingency by <br />$25,000. No other changes were made since preliminary approval and the tax levy remains <br />unchanged. <br />A staff report was also included in the packet for the work session regarding public safety but <br />the memo was provided for informational purposes only. <br />Mayor Rafferty suggested using the one-time public safety aid to offset capital equipment <br />and/or personnel costs. Director Lynch cautioned against using the public safety aid for the <br />general capital equipment levy as there are continual capital equipment needs for public <br />safety. Using one-time dollars may put the City behind in the coming years. She also stated <br />41