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City Council Regular Meeting Minutes April 13,2004 06 Page 6 1 1. With the opening of Central Park, the City could incur increased costs that might require 2 additional funds be allocated to Parks. Costs for maintenance,ballfield lights and higher 3 usage could impact the Parks budget. 4 2. The City agreed to fund a portion of the recreation costs that Community Services 5 provided. Previously, the school levied for this funding; however, recent legislation 6 eliminated the school from doing so. Mr. Mornson estimated a cost of$52,175. 7 3. The 2004 street project would reflect an increase in the road levy, which would be 8 collectible in 2005. 9 10 Mr. Mornson noted the following changes in City revenues: 11 1. Lease with Sprint Communications for$16,200. 12 2. During the construction phase of Apache, revenues from permits could significantly 13 increase. Mr. Mornson indicated consideration could be given to using this revenue for 14 capital equipment or reduction of the levy. 15 3. The City currently received $76,800 per year in lease revenue from Tires Plus; however, 16 after September 1 the City would no longer receive those funds. 17 4. The profits from the liquor store by New Market were minimal. He explained Liquor 18 Operations contributed$100,000 toward the funding of capital equipment in previous 19 years; however, this amount had been reduced to reflect the change in the liquor stores 20 and the funds would not be available for use in 2005. He added the opening of the new 21 SAV I was scheduled for May/June of this year with projected 2004 profits from 22 operations of$175,000. He noted the amount of these profits would cover the 2004 23 general fund transfer. 24 5. The City had not used much of the revenue from the Tires Plus lease; therefore, the HRA 25 fund balance had been increased. Mr. Mornson stated there was a possibility that some 26 of the money could be transferred to help balance the budget. He added consideration 27 was also being made to use the money to pay for the electronic signs, if the City did not 28 get the money from organizations from which it was soliciting. 29 30 Mr. Mornson proposed the following calendar dates: 31 1. Staff would have until July 1 to plan their budgets and present those budgets to Finance 32 Director Larson and Mr. Mornson. 33 2. On August 10 staff would present the 2005 budget to Council. Mr. Mornson noted a 34 work session might be held prior to the regular meeting. 35 3. On September 14 resolutions would be passed setting the proposed 2004 tax levy and 36 budget and setting public hearing and reconvening dates. 37 4. Truth-in-Taxation hearings would be needed in December. 38 39 Councilmember Thuesen asked if Mr. Mornson felt there would be problems for the Fire 40 Department to have its budget ready by July, as its fire chief was leaving. Mr. Mornson 41 responded he did not think there would be a problem, as the majority of the budget was the 42 personnel needed to respond to service calls. 43 44 Mayor Hodson opened the public hearing at 7:44 p.m. 45