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reducing debt levy. Thus, lowering the total debt reflected in the City’s financial statements. <br />Targeting 2023 CIP process to review and possibly implement this change. <br /> <br /> <br />Parks Improvement Fund (pages 21-23) <br /> <br /> The Tennis Courts mill and overlay project was completed in 2021, funded by interfund loan <br />proceeds. <br /> <br /> The results of the WSB Parks Evaluation study will inform the items and timing of future <br />capital expenditures. <br /> <br /> <br />Future considerations for Park Improvement Fund: <br /> <br /> The Park improvement fund’s revenue source is Park Dedication fees. Allowed uses of park <br />dedication fees are limited in scope. Also, dedication fees are insufficient to add any new <br />amenities in the City Parks. Therefore, the City has been reliant on debt financing for <br />significant additions and improvements. In order to fund the replacement of existing park <br />amenities initiating a Parks capital improvement levy should be considered. Levy phase-in <br />implemented in 2021. <br /> <br /> As mentioned earlier, develop a General Fund balance policy that transfers excess fund <br />balance to Capital Funds. The calculation of excess funds would be performed annually upon <br />completion of the City audit. If excess funds exist the City Council would determine the <br />distribution of the dollars to specific capital funds . Implemented in 2021. <br /> <br /> Based on WSB’s Parks Evaluation findings, consider additional interfund loan to finance <br />priority needs. <br /> <br />Utilities Infrastructure Fund (pages 24-26) <br /> <br /> Mandated Water System Risk analysis and response plan completed in 2021. The 2006 water <br />utility van was replaced in 2021. <br /> <br /> No significant Water/Sewer equipment purchases are scheduled for 2022. Water <br />infrastructure improvements for 2022 including the water tower rehab and painting project. <br />These costs will be fully funded with American rescue act funds. Funding proceeds and costs <br />have been excluded from this budget as they will be tracked separately. <br /> <br /> Significant purchases for Water treatment plant components are reflected as occurring in <br />2022-2025. Staff has proposed a 2022 Plant components assessment be performed by a third- <br />party subject matter expert. A placeholder of $35,000 has been included in the capital budget. <br />The amount reflects the complexities of three separate water treatment processes employed <br />by the City. <br /> <br /> A place holder of $100,000 to complete the planned Fiber connections and to upgrade lift <br />station SCADA systems has been included in the 2022 plan. The intended outcome of this <br />4