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<br />January 23, 2007 <br /> <br />expenditures that either the City has already committed to or are necessary to <br /> <br />fund all or part of at this time. However, he projected an additional savings of <br /> <br /> <br />$390,292 in capital based on items suggested for holding or not completely <br /> <br /> <br />funding at this time. Mr. Collins indicated that the impact on the closing of <br /> <br /> <br />Hooker Furniture, which will be primarily machinery and tools tax will have <br /> <br />limited impact in the FY08 budget and will not really be felt until the FY09 <br />budget year. <br />Council Member Ferrill asked about the funding for the outside agencies <br /> <br />and Mr. Collins stated that the letter that went out still stands and each <br /> <br />agency will be reviewed as part of the budget process. Mr. Ferrill said he would <br /> <br />like to see a policy for each outside agency, with an exception of those that we <br /> <br />are obligated to fund, to present a special project or initiative with a finite time <br /> <br />line for funding and be required to report back periodically on their progress. <br /> <br />He does not want the City to fund operating expenses for these agencies. <br /> <br /> <br />Mayor Reynolds agreed and indicated that they also need to demonstrate how <br /> <br /> <br />their projects tie in with Council's vision, goals and initiatives. City Manager <br /> <br /> <br />Collins said he would prepare such a policy as part of the regular budget <br /> <br />process. <br /> <br />Vice Mayor Clark made comments concernmg the inclusion of Leisure <br /> <br />Services in the December 21 Council action and indicated he was not in <br /> <br />support of reducing that department at this time, but should be a part of the <br /> <br />regular budget process. After further comments and questions from Council <br /> <br />members concerning the City Manager's list of items to be removed and the CIP <br />