Agenda Packets - 2012/06/25 - Laserfiche WebLink

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Mounds View City Council May 14, 2012 Regular Meeting Page 10 1 M. Resolution 7933, Adopting a Five Year Financial Plan for the Years 2013-2 2017. 3 4 Finance Director Beer explained the Council reviewed the five year financial plan for years 2013-5 2017 at their last work session meeting. The approval of this plan was a City charter 6 requirement. He discussed the plan in detail and stated levies were set on a yearly basis. He 7 commented the Council’s goal would be to maintain 50% fund balance for each year. Staff 8 recommended the Council adopt the five year financial plan. 9 10 Mayor Flaherty understood this was a fluid document and questioned if election expenses would 11 continue to rise even after contracting with the County. Finance Director Beer stated the new 12 expenses would have to be altered within the document. 13 14 Mayor Flaherty asked if the City needed to purchase four police vehicles in 2013. Finance 15 Director Beer stated he has spoken with the Police Chief about this issue. He stated the 16 replacement schedule had four vehicles being replaced next year and some shifting may occur. 17 He anticipated two vehicles being replaced in 2013. 18 19 Mayor Flaherty requested further information on the utility rates. Finance Director Beer 20 reviewed the analysis stating modest increases would assist in stabilizing the water fund. He 21 proposed a 10¢ increase for 2013, 2014 and 2015. This would add $8.00 per year to the average 22 utility bill. For 2016 and 2017 he was proposing a 5¢ increase in the water rate. 23 24 Mayor Flaherty stated this was a proactive measure the City can take versus a large increase all at 25 once. 26 27 Council Member Mueller asked if the residential water rate still included a conservation rate. 28 Finance Director Beer indicated conservation water use was hard to determine based on the rain 29 levels the past few summers. He explained that the City was still gathering data. 30 31 Mayor Flaherty requested Staff provide additional information on the sewer utility rates. Finance 32 Director Beer stated the suggested increase would also assist with stabilizing this fund. He 33 proposed a 4% increase in 2013 with small increases thereafter until the fund stabilizes. This 34 increase would amount to approximately $10 per year to the average utility bill. 35 36 Finance Director Beer reported there was no anticipated increase to the storm sewer utility fund 37 for the next five years. He stated the storm water infiltration basins were greatly assisting the 38 City in this area. He commented the street light fund would have a 25¢ increase in 2013 which 39 would stabilize the fund and keep the lights on along all City trails. 40 41 MOTION/SECOND: Gunn/Hull. To Waive the Reading and Adopt Resolution 7933, Adopting 42 a Five Year Financial Plan for the Years 2013-2017 and publish the summary. 43 44 Council Member Stigney thanked Staff for providing the Council with this working document. 45