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APPROVED COUNCIL MINUTES DECEMBER 9, 2002 411) 1 2 Mayor Bergeson noted the 2003 budget levy will be acted on at the December 16, 2002 Council 3 meeting. 4 5 Councilmember O'Donnell moved to close the public hearing at 6:31 p.m. Councilmember Dahl 6 seconded the motion. Motion carried unanimously. 7 8 CONTINUATION OF FIVE-YEAR FINANCIAL PLAN HEARING 9 10 Mayor Bergeson advised that the purpose of this hearing is to review the Five -Year Financial Plan for 11 the City and take public comment. Council action will not be taken at the meeting tonight but will be 12 formally taken at the December 16, 2002 Council meeting. 13 14 Finance Director Rolek reviewed the Five -Year Financial Plan and noted that annual review of this 15 plan is mandated. He presented the four required plan elements as follows: Public Service Program 16 which estimates future public service needs, measures objectives for each department, and assesses 17 impact on the annual operating budget; Capital Improvement Plan which lists capital improvements to 18 be undertaken, cost estimates, financing methods and time schedules, and cost to operate and 19 maintain improvement; Revenue Program which proposes a revenue policy to finance public services 20 and capital improvements; and Capital Budget which is a summary of capital requirements for 21 programs and improvements and to prioritize investments in community facilities and balance with 22 available resources. 41111 23 24 Finance Director Rolek presented details of the 2003-2007 Public Services Program which has the 25 main objective to maintain or enhance service levels; maintain adequate staffing levels; establishes 26 nine new positions over five years; provides for maintenance and replacement of equipment, vehicles 27 and other capital outlay; and, provides emergency contingency funding. He advised that the proposed 28 personnel additions for the 2003-2007 Public Service Program include an informational technology 29 specialist in 2005, an engineering technician in 2005, one police officer added in 2004, 2005, 2006, 30 and 2007 for a total of four, a CSO officer in 2004, Street Maintenance worker in 2004, and a Park 31 Maintenance worker in 2006. 32 33 Finance Director Rolek reviewed the proposed personnel in the Public Services Program and 34 presented bar graphs that depicted the 2003-2007 proposed capital outlay and proposed expenditures 35 by function. He noted this proposes a 35% increase over a five year period. He then displayed a bar 36 chart identifying how the dollars are broken down by category, noting two-thirds of the City's budget 37 is utilized for personnel costs. 38 39 Finance Director Rolek presented the 2003-2007 Revenue Program and its objectives to maintain a 40 steady or reduced tax rate, factoring community growth into the estimates, permits revenue based on 41 147 new houses per year, take a realistic view towards fee-based revenue, and seeks opportunities for 42 alternate funding such as fees or grants. He displayed bar charts that depicted the 2003-2007 revenue 43 program and a tax rate analysis. He pointed out that even though the plan projects growth in .44 expenditures, there is a corresponding reduction in the tax rates due to the City's growing tax base. 45 4