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<br />January 23, 2007 <br /> <br />The next item on the agenda was to reconsider capital expenditures <br /> <br />frozen and other discretionary expense reductions included in Council's action <br /> <br />of December 21, 2006. City Manager Collins first read the following FY08 <br /> <br />Budget Guideline list: <br /> <br />· Develop a Budget that provides the means to accomplish a significant portion of the Cities <br />"Goals & Initiatives". <br />· Maintain the current Real Estate tax rate. (Recognizing that the biannual re-assessment <br />conducted by the Commissioner of the Revenue will provide increased funding for the General <br />Fund) <br />· Adequately Fund Schools. <br />· Adjust utility rates where appropriate. <br />o Small CPI" increases annually have been suggested. <br />o Recover Electric wholesale rate discount from FY 07 Budget <br />· A cost of living adjustment for all employees at least equal to the State COLA. <br />· Market adj ustment for those positions that are at 85% of market or less. <br />· Fund Merit plan if possible. <br />· Update Five Year CIP budget <br />· Manage the current budget. <br /> <br />He then reviewed the FY08 Budget Projections, indicating that the fund <br /> <br />balance at the end of FY07 is projected to be approximately $9.5 million. Next <br /> <br />he reviewed the following list of items that he would request be removed from <br /> <br />the December 21, 2006 expense reduction list: <br /> <br />Critical Care <br />Demolition <br />Retiree Stipend <br />Library Contribution <br />Leisure Services <br />Recycling Center <br />Bulk Trash PU <br />Capital Expenditures <br /> <br />($ 18,750) <br />($ 25,000) <br />($ 7,267) <br />($ 37,320) <br />($175,000) <br />($ 13,000) <br />($ 40,000) <br />($800,000) <br /> <br />Need this to meet our Goals & Initiatives. <br />Need this to meet our Goals & Initiatives. <br />Part ofFY08 Budget deliberations. <br />Part of FY08 Budget deliberations. <br />Part ofFY08 Budget deliberations. <br />Need this to meet our Goals & Initiatives. <br />Need this to meet our Goals & Initiatives. <br />Need this to meet our Goals & Initiatives. ** <br />**Will provide list of CIP items, which <br />need to be completed this year. Manage <br />the rest to ensure that only items that are <br />essential will proceed. <br /> <br />He then reviewed the list of CIP items (Attachment A) that he would like <br /> <br />Council to approve as a guideline so staff can move forward with some capital <br />