01-20-1992 CC MIN - SPECIAL - Laserfiche WebLink

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City Council Work Session Minutes January 20, 1992 Page 2 . were also a significant number of activities and accomplishments that took place in 1991. The City Administrator reviewed with the City Council the status of the Capital Improvement Program finances. The estimated 1/92 fund balances and 1992 revenues were reviewed for each fund. The funds reviewed were the Municipal State Aid (MSA) , Capital Projects, Landfill (for streets, Library, and City Hall), Equipment Reserves, Park Dedication, Municipal Liquor Store, Self Insurance, and NSP Funds. It was noted that most of the street improvement work in 1992 would come from the MSA, Capital Projects and Landfill (streets) funds. Additionally, some smaller miscellaneous projects, mostly related to parks, would be financed out of the Capital Projects Fund. A brief discussion took place regarding the City using MSA bonding in order to finance some larger street projects in 1992. . The 1992-93 City Hall Construction Project and the finances for this project were reviewed by the City Council. It was noted that the bond financed by NSP, Liquor Store, General Fund, and Landfill revenues will cover the expenses of the building and landscaping. Additionally, the land purchase that was above and beyond the land gift is schedul ed to be financed by NSP monies. Finances for the City Hall Furniture, Fixture, and Equipment (F/F/E) and the public improvements were discussed in greater detail. Regarding the City Hall F/F/E, it was noted that funds have been placed into a City Hall reserve for a number of years for this expenditure. The fund is currently approaching $390,000 and includes a $150,000 Equipment Reserve transfer from 1991, accumulated Landfill reserves from the Landf ill Surcharge, a year end General Fund transfer, and the defeasing of a bond in 1987. It is hopeful that not all of this reserve will be needed for F/F/E as ongoing Landfill revenues into this fund are dedicated to the bond repayment and if the volumes at the Landfill are not sufficient, reserves from this fund may be required in order to make bond payments. It was noted that above and beyond the normal desks and chairs associated with F/F/E items, that City would be spending approximately $170,000 for the following items: - Audio Visual Items for the Council Chambers ($30,000) - Police and General Security - Door locks and cameras ($40,000) - Telephone System ($60,000) - Computer System ($20,000) - Wellness Center ($20,000) Furthermore, it was noted that an underground sprinkling system should be included in the project and this expense may have to come out of this City Hall reserve. . Finances for the public improvements for the City Hall project were reviewed. It was noted that assessments against the City Hall site are scheduled to take place for the street and storm sewer, sffilitary sewer, and water improvements. Additionally, trunk and lateral water and