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City Council Meeting Minutes April 3,2018 <br /> year CIP is semi-constrained based on: Debt capacity, Update General Fund <br /> forecast annually based on current forecasts and trends,Water/Wastewater, <br /> Electric, and Stormwater Management funds capacity determined through the <br /> annual rate modeling, and Engineering's capacity to manage projects. The <br /> first year is adopted by City Council during the budget process. <br /> Staff will provide the Council with a prioritzed list of CIP projects including <br /> outer year priorities. <br /> Mrs.Hurlbert provided the following related to anticipated future debt. <br /> General fund debt is anticipated to be constrained at an average of$10M per <br /> year for at least the next five years. Financial modeling during the bond <br /> process included maintaining capacity for the General Fund's portion of future <br /> City Hall and Public Services facility improvements/expansion. Rising <br /> construction costs and slowing sales tax growth will affect this capacity so there <br /> may have to be further constrains to maintain capacity for facility <br /> improvements/expansion. <br /> In closing,Mrs. Hurlbert provided that the General Fund tax supported debt <br /> levels are currently less than in 2010. Implemented sound financial policies <br /> and initiatives to limit issuing debt by funding expenses in the operating <br /> budget. Have used conservative budgeting and long term forecasting to ensure <br /> the City is fiscally responsible. Outstanding General Fund outstanding debt is <br /> well below the allowed percentage in the financial policy. General Fund debt <br /> balance is less than many of our peer cities. Continue to closely monitor the <br /> financial trends and update the forecasted capacity in the General Fund and <br /> modify CIP plans as needed. Continue to explore alternative financing options <br /> to minimize outstanding debt. <br /> Staff reviewed the 2018 CIP list and provided some of the larger projects. <br /> Discussion was held regarding the addition of a line item to show genral fund <br /> debt related to the future City Hall and Public Services facility <br /> improvements/expansion. Staff indicated that they would add that line item. <br /> Discussion was held regarding when a high growth city begins to see a return <br /> on investment related to infrastucutre or development. <br /> Ill. Adjournment. <br /> Mayor Thomaides adjourned the work session of the San Marcos City Council <br /> at 4:55 p.m. <br /> City of San Marcos Pages <br />