CC MINUTES 06122001 - Laserfiche WebLink

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City Council Study Session Meeting Minutes June 12, 2001 Page 2 1 3. Develop an inventory of capital needs beyond traditional Capital Improvement Plans. 2 4. Identify future capital funding requirements and operating needs. 3 5. Develop an inventory of financial resources. 4 6. Present options for financing needs. 5 7. Analyze the financial impact of each option. 6 8. Prepare an affordable, comprehensive financial plan. 7 9. Develop a framework to review future capital projects. 8 Councilmember Horst asked about prioritizing goals, and said that they are constantly changing. 9 Mr. Prosser indicated that the process really forces discussion of the goals on, at least an annual 10 basis, which will force them to maintain a focus, and continue to think of the process as the 11 dynamic, and on-going procedure that it is. 12 Mr. Prosser stated that every city has more needs and more potential discussion items than they 13 have time, or money. He added that it is important to forecast those needs and get them in a 14 plan, or program so that there is some institutional memory in what the intend to accomplish 15 throughout this process. 16Mr. Prosser went on to highlight the Key Financial Strategy Products: 07 1. Five Year KFS spreadsheet with capital and operating projections. 18 2. Customized strategies and timetables including development of financial policies, 19 revenue strategies, debt management and refined capital and operating plans. 20 Mr. Prosser stated that the key in this entire process is the strategies and timetables. 21 Councilmember Horst mentioned other cities, and that they did not have any sort of plan like this 22 in place. Mr. Prosser responded that few cities have a plan like this in place because of time, and 23 that the state legislative process puts an emphasis on inputs (i.e. taxes) with regard to budgeting. 24 He added that there is not a real focus on outcomes with the legislatures, and encouraged that the 25 Council take time to sit down and discuss the outcomes with the legislatures at the end of this 26 process. 27 Councilmember Thuesen asked about community surveys and do they want to consider them as 28 an option. Councilmember Sparks mentioned that intergenerational dialogue was a potential tool 29 as a way of gauging what residents value. Mr. Prosser stated that a survey would help the 30 Council to identify what the educational needs are by way of educating the public in terms of 31 choices. 32 Mr. Prosser added that this whole process is all about choices. He noted that the survey could 33 come into play early, or later in the process, and it will be the decision of the Council to 34 determine when it would be incorporated into the process. 35 Mr. Prosser continued by reviewing the General Guidelines of the Process. He added the need to 36 allow a focus on the primary objectives of the community. He stated that the both operational 37 and capital needs must be considered.