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City Council Regular Meeting Minutes November 14, 2023 Page 3 I Mayor Stille closed the public hearing at 7:20 p.m. 2 3 Motion by Councilmember Webster, seconded by Councilmember Jenson, to approve First 4 Reading of Ordinance 2023-10 — Amending Multiple Sections of Chapter 33 Sewer, Water, 5 License and Permit Fees, Stormwater Facilities. 6 7 Motion carried 5-0. 9 V. REPORTS FROM COMMISSION AND STAFF - NONE. 10 11 VI. GENERAL BUSINESS OF COUNCIL. 12 13 A. 2024 Capital Funds. 14 15 Finance Director Maloney reviewed the Capital Equipment, Building and Parks Improvement 16 Funds have been long standing capital funds used by the City. The Stormwater Fund has funded 17 stormwater improvements since the 2015 retirement of the stormwater bonds. The Utilities 18 Infrastructure Fund was established during 2016 for the replacement of water, sanitary sewer, 19 and fiber optic infrastructure. The Street Improvement and Debt Service Plan is the combined 20 activity of the annual street improvement funds and their related debt service funds. Ms. 21 Maloney reviewed the notable updates by fund for the Buildings Improvement Fund, Capital 22 Equipment Fund for Police, Fire, Public Works, and Administration and Finance, Parks 23 Improvement Fund, Utilities Infrastructure Fund, Stormwater Fund, and Street Improvement and 24 Debt Service Plan. 25 26 The purpose of the Capital Funds are to capture the big picture of equipment used in the current 27 delivery of City services. Equipment replacement timing is proactively managed to ensure 28 availability of resources and allows time for investigating replacement alternatives. The City's 29 capital funds are updated annually and the manufacturer's suggested end of useful life does not 30 define replacement date; equipment condition is the determining factor. The annual update 31 process was reviewed. 32 33 The Buildings Improvement Fund sources are building improvement levy, community center 34 transfer, liquor store reimbursements and transfers and are used for HVAC, roofs, lighting, 35 security, windows & doors, and tuck -pointing. The uses in 2023 and future 2024 uses were 36 reviewed. 37 38 The Capital Equipment Fund sources are capital equipment levy, equipment sales, grants and 39 donations, and transfers and are used for fleet, heavy equipment, specialty equipment, and 40 technology. The uses in 2023 and future 2024 uses were reviewed. 41 42 The Park Improvement Fund sources are parkland dedication fees, donations and grants, park 43 improvement levy, transfers and interfund loans and used for athletic facilities and playground 44 structures, park shelters, splash pads, and trail construction. The uses in 2023 and future 2024 45 uses were reviewed. 46