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City Council Meeting Minutes June 14,2018 <br /> Discussion was held regarding the Mural Program. Discussion was held <br /> regarding reducing the Tanger Marketing Program from $150,000 if any cuts <br /> needed to be made, and not increasing it by$50,000 as requested. No <br /> consensus or direction was provided at this time. Discussion was held <br /> regarding the possibility of making cuts across the board. <br /> Mrs. Hurlbert presented the Water Wastewater Fund revenue and expenses. <br /> She provided that fund balance maintained at 25%, revenue stabilization fund <br /> is fully funded and debt coverage is at 1.27 times coverage. Mrs. Hurlbert <br /> provided that the total budgeted revenue is $43.2M and total budgeted <br /> expenses is $42.6M. Mrs. Hurlbert then reviewed the expense <br /> recommendations,and provided that the total of recurring expenses is <br /> $225,100. The total of one-time expenses is$56,000, and the total of capital <br /> expenses is $293,000. <br /> Mrs. Hurlbert presented the Electric Fund revenue and expenses. She reported <br /> that there is not recommendation for a rate increase for the electric fund. She <br /> provided that the fund is fully funded and debt coverage exceeds 1.2 times <br /> coverage. Mrs.Hurlbert provided the expense recommendations. The total of <br /> recurring expenses is $139,500 and the total of one-time expenses is $303,000. <br /> Mrs.Hurlbert provided the total capital expenses of$565,800. <br /> Mrs.Hurlbert reviewed the budget timeline for the remainder of the budget <br /> process. <br /> No additional direction was provided. <br /> III. Question and Answer Session with Press and Public. <br /> None. <br /> IV. Adjournment. <br /> Mayor Thomaides adjourned the San Marcos City Council budget workshop <br /> at 5:38 p.m. <br /> J'l t ' • <br /> =mie Le'Cas-,TRMC, City Clerk John Thomaides, Mayor <br /> Ciryn/San Marcos Page 2 <br />