HomeMy WebLinkAbout2006-01-17 Council minutes
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CITY OF IOWA CITY
MEMORANDUM
Date: January 24, 2006
To: Mayor and City Council
From: Marian K. Karr, City Clerk
Re: Council Budget Work Session, January 17, 2006, 6:05PM in Emma J. Harvat Hall
Council: Bailey, Champion, Correia, Elliott, O'Donnell, Vanderhoef, Wilburn
UISG Representative: Schreiber
Staff: Atkins, Helling, O'Malley, Karr, Mansfield
Tapes: 06-03, Side 3; 06-05, Both Sides
(A complete transcription and materials distributed are available in the City Clerk's Office)
BUDGET OVERVIEW
The City Manager presented the FY07-09 budget review; reviewed expense and revenue
sources, notably the General Fund; taxable assessed values, existing and new construction;
building permit activity; general fund cash balance policy; cash balance policy, and; possibility if
buying down the tax rate; dropping emergency levy to drop taxes;
Council requested information on:
1) consequences on reducing the cash balance (at what point do we go to short term
borrowing; including inflation)
2) questioned the drop of hangar rental income at the airport
Copies were distributed (and used as overheads):
. Rollback History
. City of Iowa City Yearly Building Statistics
. City of Iowa City Residential Property Growth
. Rollback - Recent History
. % Increases, Rollbacks, Net
. City of Iowa City, Iowa Financial Plan for 2007-2009 (Page 21)
. Budget, Current 06, 07, 07 Amended
. Budget07
. Memo from Chris O'Brien, Parking Manager re FY07 Rate Increases
Finance Director O'Malley and Budget Analyst Mansfield present for discussion.
Council Work Session
January 17, 2006
Page 2
(FLIP CHART)
BUDGET '07
Reserve - $%
Tax Rate Reduction
New Spending
One time
Reoccurring
Emergency Levy
At What Point - Short term borrowing - inflation
Airport Rents
Franchise Fees - case (Eleanor)
SCHEDULE
Monday, January 23, 5:30, Harvat Hall, Conference Board and work session
Tuesday, January 24, 9-3, Library, Goal Setting
Wednesday, January 25, 8:30-noon, CIP/Budget, Harvat Hall
Wednesday, January 25, 1-3PM, Joint Communications Center, Harvat Hall
Monday, January 30, 7PM, Harvat Hall, Boards/Commissions/Community Events
Tuesday, January 31, 9-Noon, Budget, Harvat Hall
Mayor Wilburn noted an agenda would be in the information packet Thursday from the facilitator
regarding the Tuesday goal setting session. City Clerk Karr reminded Council of the League
Legislative Day on February 1, and asked Council to let her know if she needed to make
reservations. February schedule reviewed:
February 13, combined work session and formal
February 27, special work session
February 28, special formal
February 1 Chamber banquet.
In response to Mayor Wilburn, Council Member Vanderhoef reported on the League leadership
visit to the State legislative and updated Council on the revised property tax bill; stated they had
been invited to present at the Senate Local Government Committee meeting on the League
priorities; and just received an invitation form the House to meet on priorities and the tax bill;
and a possible increase in the $25,000 threshold for project bidding.
Meeting .adjourned 8:25 PM.
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