02.22.18 Budget Policy Workshop - Laserfiche WebLink

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City Council Meeting Minutes February 22,2018 set percentage for general fund and water/wastewater fund balance at 25%. Council is willing to go down to 20e/ on the drainage fund balance. Following discussion regarding General Fund revenue, Council consensus was to maintain the current tax rate of 61.39 with a projected property assessment growth of 10%. Council also provided direction to Staff to conduct an analysis to look into Over 65 and Homestead exemptions and what revenue impacts they would have. Council also provided consensus related to assuming zero growth for Outlet Mall collections and Sales Taxes,and assuming a 4% growth in Best Buy Sales Tax collections. Council also provided consensus to increase fees based on the annual CPI increase of 2.12% for all General Fund fees,and directed Staff to perform a cost of service study for Community Services and will bring back a fee recommendation. Following discussion the Council provided consensus to pursue a goal of a 4.5% merit and cost of living mid-year increase for non-civil service employees if budget allows. The Council was not in favor of temporarily suspending the annual$200K contribution to the economic development reserve, but may redefine what the funds can be used for. Council provided consensus to continue with the temporary increase of City-owned utility franchise fees at 8% with a reduction to 7% in FY2020. Following discussion related to expenses the Council provided consensus to increase Social Services Funding to$500,000 from $450,000. Council agreed to allow the City Manager to make a recommendation related to funding structure and cycle for social services funding. Discussion was held regarding the creation of a Council committee, but there was not a consensus at this time. Following discussion the Council agreed to increase Museum funding to $100,000 from $75,000 and to cap each entity at$25,000. Council agreed to allow the City Manager to review the structure and cycle of funding for the $150,000 for Youth Initiatives and to consider making it outcome based. Finally, Mrs.Burlbert reviewed the Best Buy revenue for FY18, and the budget amendment to fund The Village request of$432,000. She also provided the forecast for the City's portion in Quarter 2 through Quarter 4. No further direction was provided. The City Council will consider their budget policy statement on March 6,2018. III. Adjournment. Mayor Pro Tem Prewitt adjourned the San Marcos City Council budget policy City of San Marcos Page