HomeMy WebLinkAboutMinutes - City Council - 2019-05-08 - Special 55
Redding City Council, Special Meeting
10-Year Budget Workshop
Civic Center Council Chambers
777 Cypress Avenue
Redding, CA 96001
May 8, 2019, 2:00 PM
The meeting was called to order by Mayor Julie Winter with the following Council Members
present: Michael Dacquisto, Adam McElvain, Erin Resner, and Kristen Schreder.
Also present were: City Manager Barry Tippin, Assistant City Manager Sheri DeMaagd,
Assistant City Attorney Jake Baldwin, Finance Director/City Treasurer Allyn Van Hooser,
City Clerk Pamela Mize, and Executive Assistant Anette Cates.
Presentation regarding the City of Redding's 10-Year Plan.
City Manager Tippin highlighted the Report to the City Council (staff report), and provided a
PowerPoint presentation, both incorporated herein by reference.
According to Mr. Tippin, historically the 10-Year Plan has been reviewed by the City Council
(Council) along with the biennial budget. This workshop was designed to provide Council an
opportunity to provide input earlier in the process.
Mr. Tippin noted that Council Policy 412 requires the City to maintain five percent of the
projected expenditures unreserved cash balance at the end of each year for all major funds. He
advised that, although this policy has served the City well, events such as the Great Recession
has demonstrated that changes should be discussed.
City Manager Tippin asked the Council to provide direction regarding the following four
changes recommended by staff:
(1) 10% Reserve versus Contingency Fund: Staff recommended that, rather than
establishing a Contingency Fund, the City begin to slowly grow the permanent reserve
to 10 percent of projected expenditures;
(2) Six-Year Plan Focus versus 10-Year Plan: Staff recommended that, although a 10-year
Plan (Plan) would continue to be developed, the focus would shift to the first six years
of the Plan;
(3) Roll Property Revenue into Unrestricted Cash: Staff recommended that revenue from
the sale of property be moved to the unrestricted cash fund; and
(4) Utilize a volatility value for out-years: Staff recommended that when preparing the
Plan, a volatility value factor be incorporated in the later years.
Following discussion, by unanimous consensus, the City Council directed staff to implement
the four changes as recommended.
ADJOURNMENT
There being no further business, Mayor Winter declared the meeting adjourned at the hour of
3:15 p.m.
APPROVED:
SA U ,1►'1
Jul'- inter, Mayor
ATTEST:
Pamela Mize, City erk
5/8/2019