10A - MINUTES - 05-21-2012 - Laserfiche WebLink

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• Modifying six existing fees: • CDA - Enterprise Zone Hiring Credit Application Processing Fee • PRCSA - Zoo Admissions (Full day & half day) • PRCSA - Sports Youth Registration • PWA - Water Meter Test in Field/Shop • Clerk of the Council - Chapter 3 Appeal Hearing Fee FY 2013-14 Outlook & Potential Risks • FY 2013-14 Budget Gap Estimated at $2.3M • Base-line Assumptions: • Overall 2% growth in revenues • No other major revenue impacts • End of negotiated deferrals (6/30/13 approx. $7M assuming no change) • PERS rate increase 2% (misc.) and 3% (safety) • City continues current services and programs Must Proceed with Caution - Potential Risk Factors: • Manage expenditures (primarily the filling of vacancies) • Future PERS rates increase above estimates (discount rate/reti rem e nts/etc.) • State budget deficit impacts • Reductions in Federal grant funding • Economic uncertainties Organizational Strategies for the Coming Year • Validate fiscal position in Mid-September (Prelim CAFR) • Develop a strategic approach to fill vacancies (EMT/Budget) • Continue to look for reorg opportunities • Invest in technology to improve efficiencies and productivity • Further develop fiscal policies (expand into ISF and Enterprise) Establishment of Fiscal Policy Proposed Fiscal Policy Provides For: • Two-tiered reserve effort • Work plan to achieve acceptable reserve levels • Defines balanced budget approach and use of one-time funds City is in position to: • Build fiscal stability through a balanced budget approach (aligning recurring expenditures to meet recurring revenues) • Balance City finances with Council priorities • Establish fiscal policy to make key sound decisions • Better prepared for future economic crisis Must continue to proceed with caution: CITY COUNCIL MINUTES 15 MAY 21, 2012 1 0A-15