HomeMy WebLinkAbout2003-01-13 Council minutes City of Iowa City
MEMORANDUM
Date: January 22, 2003
To: Mayor and City Council
From: Marian K. Karr, City Clerk
Re: Council Budget Work Session, January 13, 2003, 6:30 PM in Emma J. Harvat Hall
Council; Champion, Kanner, Lehman, O'Donnell, Pfab, Vanderhoef, Wilburn
Staff: Atkins, Helling, O'Malley, Herting, Lewis, Mansfield, Karr
Tapes: 03-05, Both Sides
(A complete transcription and materials distributed are available in the City Clerk's Office)
BUDGET OVERVIEW
City Manager Atkins presented the FY2004-2006 budget review. Copies were distributed (and
used as overheads):
· Eight charts
· Debt planning/capital projects
· Capital Improvement Program Summary(03-07)
· Unfunded Projects
· Corrected page 23 of the budget
The City Manager reviewed basic budget policy issues that affect operations and the capital
plan; debt service tax rates; overlapping debt concerns with respect to the School Bond
election; provided a summary of the general debt fund expenditures and revenues; suggesting
setting a target date for airport financing issues. Atkins stated the budget contained best
estimates of fuel costs, provided for required Homeland Security measures, and noted the
impact on the Economic Stimulus package going through Congress and particularly the dividend
tax issue which would make municipal bonds less desirable. Pending issues include the
coJlective bargaining process and GASB 34 compliance.
City Manager Atkins asked that two items be added to the bottom of Chart #6:
1. request from Parks & Recreation Commission to fund a master plan from the Parkland
Acquisition fund and pay back the fund over a couple of years
2. recommended lowering water rates by 5%
Finance Director O'MalJey and Budget Analyst Mansfield present for discussion.
Majority of Council expressed a desire to participate in IPERS and Social Security benefits, and
schedule the matter for further discussion.
Council Work Session
JanuaW 13,2003
Page 2
SCHEDULE
The City Manager reminded Council of the budget schedule as follows:
January 15 (8:00-Noon) - Capital Projects
January 27 (6:30 PM) - Boards, Commissions, Community Organizations/Event funding request
January 28 (6:30 PM) - Final Council Budget Session
City Clerk Karr noted a number of Council Members meeting conflicts and reviewed a proposed
Council meeting schedule. Council agreed to discuss changes to their schedule at the
Wednesday budget session.
Meeting adjourned 8:00 PM.