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City reviews fund balances and FY2020 proposed budgets for capital and bond funds
Summary
City Administrator Robertson reviewed projected fund balances and the FY2020 proposed budget by fund, including the Fixed Asset Fund (a little over $1 million in expenditures proposed), Capital Improvement Fund line items, the Street & Path Fund revenue source, and the 2018 Bond Fund with no planned 2020 expenditures.
City Administrator Robertson walked the council through fund summaries and projections for FY2020. She reviewed expected fund balance at fiscal-year end, unassigned funds available for allocation, and a chart showing the proposed FY2020 budget by fund. Robertson noted that fixed-asset expenditures for next year are projected at a little over $1 million.
She also reviewed the Capital Improvement Fund line items and the Street & Path Fund revenue source (state highway-user allocations). On the 2018 Bond Fund, Robertson said there were no planned expenditures in 2020 but cautioned that if the council advances a year of proposed construction they would need to amend the budget to reflect that change.
