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Budget proposes $6.3M in home-rule transfers to capital fund; $3.5M to water/sewer cited
Summary
City staff outlined a capital projects plan funded in part by a proposed $6.3 million transfer of home-rule sales tax to capital; staff corrected interfund transfer splits to show $2 million to water and $1.5 million to sewer.
City finance staff presented the capital projects (300) funds covering neighborhood enhancement, street projects and major capital outlays and said the draft intends to transfer 50% of home-rule sales tax to capital projects — roughly $6.3 million.
The capital-fund presentation noted a beginning fund balance of about $17 million and $24.1 million available when transfers and interest are counted. The proposed capital budget totals roughly $23 million; staff cautioned it is unlikely all those projects will be completed in a single fiscal year and that some spending will carry over.
Staff clarified that interfund transfers to water and sewer in the capital plan should read $2,000,000 to the water fund and $1,500,000 to the sewer fund (a combined $3.5 million), not $5,000,000 as earlier line items incorrectly displayed. Presenters said the transfers are intended to support water- and sewer-related capital projects so those utilities can keep pace with street and other infrastructure work.
Major capital projects identified in the packet include Broadway water-main work currently underway, and planned projects (proposed bids) for College (Fourth to Eighth), Cherry (20 Fourth to 20 Eighth) and Jackson (Fifth to Eighth). Neighborhood enhancement was allocated $3.5 million with $225,000 per ward in the draft.
City staff estimated they would seek to spend as much of the available capital fund as possible on street and related projects, but cautioned actual expenditures depend on project readiness, bids and grant timing. Council members asked about the total street spending; staff replied the goal is to spend as much of the proposed $16 million for streets as feasible in the coming year.
