TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Steve S. Charelian, Finance Director
Julie Bondarchuk, Financial Controller
SUBJECT:Title
Consideration of Adopting Resolution No. 23-0158 to Modify the Storm Drain Measure Ballot Question on Resolution No. 23-0149 (Finance Director Charelian).
(Estimated Time: 20 Mins.)
ADOPT RESOLUTION NO. 23-0158
Body
_________________________________________________________
RECOMMENDATION:
Staff recommends that the City Council adopt Resolution No. 23-0158 to modify the ballot language in Resolution No. 23-0149, originally adopted on November 7, 2023. This resolution will also modify the ballot question in the Procedures for the Conduct of a Mail Ballot Election relating to a proposed storm drain fee increase, as well as the requirements of the ballot return envelope.
FISCAL IMPLICATIONS:
There are no fiscal implications related to this action.
BACKGROUND:
As City staff has previously informed the public and the City Council, the General Fund provides subsidies to the Stormwater Fund. Finance staff presented a report on Revenue Enhancements to the Finance Subcommittee (FSC) on April 2, 2023. The report identified the Stormwater Fund as an enterprise fund that requires attention. Ideally, enterprise funds should be self-sustaining, with incoming revenues covering outgoing costs. However, the Stormwater Fund has been operating at a deficit for many years and has required over $6 million of General Fund subsidies over the past five years. An additional $11.6 million of General Fund subsidies is projected for the next six years with $8.35 million attributed to capital projects.
The amount of General Fund subsidies projected for the Stormwater Fund continues to increase annually and has the potential to crowd out funding for General Fund services. The transfers out are projected to wipe out the unreserved General Fund balance in the next couple of years. Services funded by the Ge...
Click here for full text