City Council

CITY COUNCIL SPECIAL MEETING 7:00 - 9:00 P.M. TUESDAY, DECEMBER 10, 2024 HELD REMOTELY & IN PERSON AT CITY HALL 22710 E COUNTRY VISTA DRIVE Questions or need assistance? Please contact the city clerk at khardy@libertylakewa.gov. 1. Call to Order 2. Roll Call 3. Agenda Approval 4. City Administrator Report 5. Workshop Discussions A. 2025 Budget Review 6. Adjournment JOIN ZOOM MEETING To view the meeting live via Zoom Meeting, join the Zoom web meeting: Meeting Instructions: Join from a PC, Mac, iPad, iPhone or Android device: https://us02web.zoom.us/j/85615989186 Or One tap mobile: +12532050468,,86578556158# US +12532158782,,86578556158# US (Tacoma) Or join by phone: Dial: +1 253 205 0468 or +1 253 215 8782 Webinar ID: 856 1598 9186 Page 1 of 5  AGENDA ITEM NO.: 5.A. BUSINESS OF THE CITY COUNCIL, LIBERTY LAKE, WASHINGTON For the Agenda Of: December 10, 2024 Subject: 2025 Budget Review Dept of Origin: Finance Dept. Head Approval: Kyle Dixon Exhibit(s): 12.3 amendments Expenditure Required N/A Budgeted N/A Summary Statement During the most recent budget workshop held on December 3rd, various amendments to the 2025 preliminary budget were proposed. Several were approved, and 4 were tabled for further consideration. Those amendments, and their impact on the 2025 budget, are itemized in the attached exhibit. As we continue discussion of the city’s competing priorities in the 2025 budget and beyond, it is important to note that the combined costs of all transportation and public facility projects listed on the Capital Facilities Plan exceed $26 million. This underscores the importance of maintaining healthy ending fund balances in the General Fund and other Capital Funds to provide flexibility in addressing projects as priorities evolve. Recommended Action Complete review of 2025 annual budget for 2nd read and adoption on December 17th. Page 2 of 5  Amendments to 2025 Budget Approved amendments 1. General Fund - Transfer to 338 Trailhead Improvements Fund - $500,000 2. General Fund - Increase Police Dept budget - $354,398 3. General Fund - GSI/PEBS OT reductions - ($18,000) 4. Street Operations - Various adjustments - ($9,500) 5. Library Capital Fund - Remove budgeted revenues from Commerce Grant and Donations - $1.437 million IMPACT - GENERAL FUND Resources Reductions 2025 General Fund Ending Balance $ 4,743,529 GSI/PEBS reductions $ 18,000 Trailhead Bond Prepayment transfer $ 500,000 Increase Police Dept budget $ 354,398 Amended General Fund Ending Balance $ 3,907,131 IMPACT - TRAILHEAD IMPROVEMENTS FUND PG. 105 Resources Reductions 2025 Bond Repayment $ 443,953 Transfer from General Fund $ 500,000 Amended 2025 Bond Repayment $ 943,953 IMPACT - STREET OPERATIONS FUND PG. 79 Resources Reductions 2025 Streets Fund Ending Balance $ 289,750 Approved adjustments $ 9,500 Amended Streets Fund Ending Balance $ 299,250 IMPACT - 330 LIBRARY CAPITAL FUND PG. 98 Resources Reductions 2025 Library Capital Total Resources (incl. $15k from GSI reduction) $ 5,730,228 Removal of budgeted revenues for Commerce Grant $ 937,000 Removal of budgeted revenues for donations $ 500,000 Amended Library Capital Total Resources $ 4,293,228 *NOTE - Because total resources now fall below total budgeted expenses in the Library Capital Fund, other revenues must be considered, or expenses must be reduced to match total resources Page 3 of 5  Proposed Amendment #1 REET 1 Captial Projects Fund 310 - Reduce transfer to 330 Library Capital Fund from $1.5 million to $1 million REET 1 Captial Projects Fund 310 - Increase transfer to 338 Trailhead Improvements Fund from $400,000 to $900,000 IMPACT - 310 REET 1 FUND PG. 89 Resources Reductions 2025 REET 1 Fund Ending Balance $ 1,634,508 Proposed transfer reduction to Library Capital $ 500,000 Proposed Trailhead Bond transfer increase $ 500,000 Proposed REET 1 Fund Ending Balance $ 1,634,508 IMPACT - 330 LIBRARY CAPITAL FUND PG. 98 Resources Reductions Amended Library Capital Total Resources $ 4,292,228 Proposed transfer reduction from REET 1 $ 500,000 Proposed Library Capital Total Resources $ 3,792,228 IMPACT - TRAILHEAD IMPROVEMENTS FUND PG. 105 Resources Reductions Amended 2025 Bond Repayment $ 943,953 Proposed transfer increase from REET 1 Fund $ 500,000 Proposed 2025 Bond Repayment $ 1,443,953 Proposed Amendment #2 REET 1 Captial Projects Fund 310 - Reduce transfer to 330 Library Capital Fund from $1.5 million to $1 million REET 1 Captial Projects Fund 310 - Increase transfer to 338 Trailhead Improvements Fund from $400,000 to $1,400,000 IMPACT - 310 REET 1 FUND PG. 89 Resources Reductions 2025 REET 1 Fund Ending Balance $ 1,634,508 Proposed transfer reduction to Library Capital $ 500,000 Proposed Trailhead Bond transfer increase $ 1,000,000 Proposed REET 1 Fund Ending Balance $ 1,134,508 IMPACT - 330 LIBRARY CAPITAL FUND PG. 98 Resources Reductions Amended Library Capital Total Resources $ 4,292,228 Proposed transfer reduction from REET 1 $ 500,000 Proposed Library Capital Total Resources $ 3,792,228 IMPACT - TRAILHEAD IMPROVEMENTS FUND PG. 105 Resources Reductions Amended 2025 Bond Repayment $ 943,953 Proposed transfer increase from REET 1 Fund $ 1,000,000 Proposed 2025 Bond Repayment $ 1,943,953 Page 4 of 5  Proposed Amendment #3 Community Messaging Fund 335 - Transfer up to entire balance of fund to Library Capital Fund - $109,500 Building Contingency Fund 337 - Transfer up to entire balance of fund to Library Capital Fund - $134,000 *NOTE - Impact below does NOT include proposed amendments 1 & 2 IMPACT - 330 LIBRARY CAPITAL FUND PG. 98 Resources Reductions 2025 Library Capital Total Resources $ 4,292,228 Proposed transfer from Community Messaging Fund $ 109,500 Proposed transfer from Building Contingency Fund $ 134,000 Proposed Library Capital Total Resources $ 4,535,728 *NOTE - Impact below includes proposed amendments 1 & 2 IMPACT - 330 LIBRARY CAPITAL FUND PG. 98 Resources Reductions 2025 Library Capital Total Resources $ 3,792,228 Proposed tranfer from Community Messaging Fund $ 109,500 Proposed tranfer from Building Contingency Fund $ 134,000 Proposed Library Capital Total Resources $ 4,035,728 Proposed Amendement #4 General Fund - Include $600,000 for arboretum improvements IMPACT - GENERAL FUND Resources Reductions 2025 Amended General Fund Ending Balance $ 3,907,131 Proposed arboretum improvements $ 600,000 Proposed General Fund Ending Balance $ 3,307,131 Page 5 of 5