HomeMy WebLinkAbout06/19/1995
JUNE 19, 1995
CITY COUNCIL STUDY SESSION MINUTES
CITY OF WHEAT RIDGE, COLORADO
The City Council Study Session was called to order by Mayor Dan
Wilde at 7 00 P m Councilmembers present Rae Jean Behm, Teri
Dalbec, Donald Eafanti, Vance Edwards, Jean D Fields, Ken Siler,
Tony Solano and Claudia Worth Also present City Clerk, Wanda
Sang; City Administrator, Robert Middaugh; City Attorney, Gerald
Dahl; City Treasurer, James Malone; Staff and interested
citizens
Item 1.
1996 Budget Discussion and Overview
Mr Middaugh presented the mid-year financial status of the City
and an overview He stated the City is in good financial shape
The City at this time has surplus revenues over expenditures that
was not forecasted at the budget process last year Last year
the City was operating under the assumption that fund balances
would be decreasing and that there would be an excess of
expenditures over revenues That has changed and now the City
finances are in different circumstances This is really the
first time that has happened, and the City Council needs to
discuss the implications this presents and will this trend
continue, and in 1995 the City is carrying too much money in the
General Fund and recommended spending $2 million dollars on
capital improvement projects that will benefit the citizenry as a
whole
Mrs Worth stated the most important project that needs attention
right now is Lena Gulch for safety to prevent loss of life and
further flooding problems
Following discussion on the City's conservative administrative
philosophy of incurring no debts, projected limited increase in
sales tax from the new development projects; the $2 3 million
dollar reserve in the General Fund; the projected 1996 Capital
Improvement projects that have not been approved by City Council
and that the projected figures will probably change when the 1996
budget is adopted, and work that needs to be completed on Lena
Gulch
Consensus was 2-6 to spend the General Fund balance (reserve
fund) down to 15% as indicated by Resolution No 1304, $2 921
Million dollars (Failed as to majority consensus)
City Council Study Session Minutes
June 19, 1995
Page -2-
Consensus was 3-5 to spend $2 3 million of the General Fund
balance (reserve funds) in a priority matrix (Failed as to
majority consensus)
Consensus was 5-3 to spend $2 million dollars of the General Fund
balance
Consensus was 6-2 requesting a Resolution be prepared for
consideration by City Council on June 26th to transfer from the
General Fund Balance $2 million dollars to the Capital
Improvement fund
Consensus was 6-2 that Councilmembers prepare a list of projects
for study and discussion at the July 17th Study Session and what
projects will be funded by the $2 million dollars that is planned
to be transferred from the General Fund balance to the Capital
Improvement fund
Consensus was 5-3 that Staff contact Urban Drainage to obtain
information as to what work needs to be completed relative to
Lena Gulch
Consensus was 8-0 that all suggestions be submitted to the City
Administrator
There being no further business the meeting adjourned at 9 15
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Wand4Sang,
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City C1E!rk