HomeMy WebLinkAboutagenda.council.regular.20050822CITY COUNCIL AGENDA
August 22, 2005
5:00 P.M.
I. Call to Order
II.
III.
Roll Call
Scheduled Public Appearances
IV. Citizens Comments & Petitions (Time for any citizen to address Council on issues
NOT on the agenda. Please limit your comments to 3 minutes)
Special Orders of the Day
a) Mayor's and Councilmembers' Comments
b) City Manager's Comments
c) Board Reports
VI.
Consent Calendar (These matters may be adopted together by a single motion)
a)
b)
c)
d)
e)
f)
Resolution #62, 2005 - Fund Balance Policy
Resolution #63, 2005 - Annexation 517 Park Circle
Resolution #64, 2005 - Support Ballot Referenda C and D
Resolution #65, 2005 - Contract Sediment Removal Vault - Rio Grande
Board Appointments
Minutes - August 8, 2005
VII.
First Reading of Ordinances
a) Ordinance #37, 2005 - Code Amendment - HPC FAR Bonus P.H. 9~26
b) Ordinance #38, 2005 - Snyder Affordable Housing PUD Amendment P.H. 9/26
VIII.
Public
a)
b)
c)
d)
e)
f)
g)
Hearings
Ordinance #26, 2005 - Recycling Initiatives
Ordinance #33, 2005 - 604 West Main Historic Lot Split
Ordinance #34, 2005 - 227 East Bleeker Historic Lot Split
Ordinance #36, 2005 - 430 West Main Historic Lot Split
Resolution #69, 2005 - Lodge at Aspen Conceptual PUD continue to 9/12
Resolution #68, 2005 - Aspen Art Museum Temporary Use
Resolution #53, 2005 - Appeal of Code Interpretation Historic Lot Split
IX.
Action Items
a) Resolution #66, 2005 - Ballot Question
b) Resolution #67, 2005 - CDOT Grant Street Sweeper
X. Executive Session
XI. Adjournment
Next Regular Meeting September 12, 2005
COUNCIL SCHEDULES A 15 MINUTE DINNER BREAK APPROXIMATELY 7 P.M.
THE CITY OF ASPEN
Memorandum
Through:
From:
Mayor and Council
Management
Date:
Cc:
Re:
8/17/2005
Steve Barwick, City Manager
Fund Balance Policy
Summary: Th/s agenda item requests Council approval of a fund balance policy resolution
for the City's General Fund and Parks and Open Space Fund. This policy establishes
minimum acceptable fund balances for these two funds, and provides a structure for
addressing circumstances that require the City to expend a portion of these fund balances to
meet operational requirements and respond to financial emergencies.
This request is separate from the City's current practice of monitoring what we call
"operating reserve" levels within each of the City's funds. While the two are related, this
f6rmal policy establishes minimum total fund balance levels and a process for maintaining
those levels over time. The practice of monitoring minimum "operating reserves" provides a
basis for meeting cash flow needs and guiding the City's investment practices.
To a great extent, the proposed policy implements the City's current practice of evaluating
the multi-year impact of current year financial actions. City staff plan to request fund balance
policies for all govermnental funds of the City. The General Fund and Parks and Open Space
Fund are requested initially due to the relationship of these fund activities to the currently
proposed sales tax bond issue for open space acquisition and open space improvements, and
the overall relationship of the City's General Fund to the underlying financial condition of all
City operations.
Analysis: Adequate fund balance levels are a necessary component of the City's overall
financial management strategy and a key indicator of the City's financial health. A fund
balance policy is necessary to ensure that City programs and current service levels are
protected from changes in revenue growth or expenditure requirements. These changes
could be the result of unanticipated one-time expenditures or reduction of revenues due to
unforeseen circumstances.