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City Council Meeting Minutes February 20, 2020 <br />Ms. Neel provided the committed funding to the general fund: <br />• Preliminary forecasted base budget could require $4M increase of General <br />Fund capacity <br />• Does not include any new or additional funding towards Animal Services <br />Live Outcomes initiatives <br />• Budget requests last year for new personnel & operating expenses >$8M with <br />$800K approved for funding (not including base increase) <br />The General Fund Capacity Options include: <br />Reduce fund balance <br />• Reducing required fund balance from 25 to 20% could reduce revenue <br />requirements of $1.2 $1.5M <br />Operating process <br />• Identify potential cost savings through revised budget process <br />• Explore potential reduction in service levels <br />Diversify revenues <br />• Explore new revenue sources in General Fund to recover cost of services <br />provided. <br />Other <br />• Capital Improvement Plan (CIP) <br />• Refinance TIRZ (Tax Increment Reinvestment Zone) #2 Blanco Vista <br />• TRZ (Transportation Reinvestment Zone) #1— Loop 110 <br />Current operating process: <br />• Zero based budget <br />• Federal/State mandate <br />• Operational necessity <br />• Core services <br />When looking at General Fund Revenue Diversification we can look at the <br />following: <br />• Implementation of fees to achieve cost recovery <br />• Introduction of new fees <br />• Alternative funding sources such as paid parking, expenses to paid out of <br />TIRZ, Redwood/Lantana projects to fund Workforce Housing in future years <br />• Restructure economic development incentive policy <br />TIRZ #2 Refinance <br />City of San Marcos Page 3 <br />