Minutes 03/21/2006 - Laserfiche WebLink

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March 21. 2006 . Achieve target of 15 percent as undesignated fund balance of General Fund after the cash flow deficits in the Internal Service funds are eliminated . Maintain debt affordability by issuing debt with a debt outstanding to assessed value ratio cap of 5% and General Fund-supported debt service to General Fund revenue ratio cap of 12% . Maintain contributions to the pension trust funds to fully fund the City's pension liability . Develop a plan for converting the Public Utility General Obligation Bonds to Public Utility Revenue Bonds. These budgets provide a detailed operating and capital "spending plan" that is directly connected to the City's strategic planning and serves as a one-year framework for achieving City Council's long-range goals. FY07 Budget Summary In summary, I am presenting to the City Council a recommended General Fund Operating Budget for FY07 that totals $199.01 million, an increase of 8.64 percent over the adopted FY06 Operating Budget, and a Capital Improvement Program Budget that totals $66.4 million. Budget Calendar Over the next several weeks, we will have significant opportunities to discuss these budget recommendations in more detail, to have dialogue with the City Council and answer your questions and concerns, and to hear from the public in two public hearings. Here is the budget calendar, leading to adoption by the City Council on April 25: . March 28 - Public Work Session: CIP . April 4 - Public Work Session: Operating Budget . April 11 - Public Work Session & Public Hearing: Operating & CIP Budgets . April 18 - Public Hearing: Operating & CIP Budgets . April 25 - Adoption of Operating and CIP Budgets" 2. Inspections Update - John Rowe 3. Neighborhood Transformation Update - Dr. Lydia Patton 4. Development Update - John Rowe 5. Review of City Manager's Report Items - Dr. Lydia Patton