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Commission hears city update: council delays sales-tax measures and posts clean audit
Summary
A staff member told the commission that City Council decided not to refer proposed fire and economic-development sales-tax measures to April voters; the city also released a clean audit and reported an unusually large reserve that the city may use for capital projects.
A staff member reported to the Crossroads Business District commission that City Council decided not to place proposed fire and economic-development sales-tax measures on the April ballot, and that the city’s annual audit is clean and available online.
The staff member said the city finished the year with a large reserve, roughly 87% of the annual budget, well above the city policy target of 35%. "We have a pretty significant reserve," the staff member said, adding that staff will prepare a prioritized list of capital projects the city could fund with those reserves.
The staff member warned the commission that relying on vacancies to balance budgets is not a sustainable practice and urged the group to identify projects that would demonstrate a clear return on investment for residents. He also noted that reserve interest produced about $800,000 in income last year.
The staff member said the city will revisit tax and funding conversations later in the year, noting concerns that state-level changes to taxation could affect the availability of federal and state infrastructure funds the city relies on for walkability and bikeability projects.
No formal action was taken by the commission on the city’s reserve recommendations; the report was provided for information and to help the commission frame its FY budget request to council.
