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Staff outlines water/sewer, street and hotel-occupancy adjustments; recommends fund-balance use for debt service
Summary
Budget staff proposed adjustments across several enterprise and restricted funds: reduced CO principal payments for water/sewer and street funds, a proposed $750,000 fund-balance use for debt payment in the water/sewer fund, and prorated hotel-occupancy-tax art allocations to meet the state 15% cap.
Budget staff reviewed proposed adjustments to the city’s enterprise and restricted funds during the July 30 meeting, including water and sewer, street maintenance and hotel-occupancy-tax categories.
Beckman reported a reduction to the water and sewer fund’s 2026 CO principal and interest payments and said staff was proposing using $750,000 of fund balance in that fund for debt payments. She also said changes to the street maintenance fund and to CO principal payments would reduce scheduled outlays. Staff explained hotel-occupancy-tax allocations were adjusted at council request and that state law requires the amount allocated to the art category to be 15% or less of the fund; staff prorated those amounts to comply.
"We are proposing that we use $750,000 of fund balance for debt payments because that's the only thing you can use the fund balance for in this fund," Beckman said. Staff closed the fund-level presentation by reminding council that the Aug. 18 adoption packet will include these line items for final action.
