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July 25, 1996 <br /> To: Honorable Mayor and City Council <br /> From: Chuck Whiting, City Administrator <br /> Re: July 29, 1996 City Council meeting and work session <br /> I want to add a few comments regarding the long term financial plan work session on Monday. The <br /> long term financial plan in your packet is ready for your review, and I anticipate even though it must <br /> be approved as an ordinance (August 12), it will be further developed and changed as the budget <br /> process goes on this summer and fall. I have expressed to our department heads my interest in having <br /> some context in which to review the costs presented in the long term financial plan. I think to truly <br /> have the plan in perspective,we need to have an understanding of the potential general fund expenses <br /> and the other funds used to assist in covering capital costs incurred by the City. I write this to you <br /> now to because I would like to discuss this more on Monday evening and the need I see for further <br /> developing a coherent long term capital expense plan. Typically the controlling interest in how much <br /> capital and operational planning actually takes place is the level of the property tax. We discussed <br /> this to a point in a work session back in June, and I would like to run a few ideas on this past the <br /> Council and with our Finance Director Bruce Kessel on Monday evening. <br />