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CASSGLBGRRY CITY COMMISSION <br />Minutes of March 7, 2023 — Pre -Budget Planning workshop <br />Page 2 of i 1 <br />3. ROLL CALL <br />The City Clerk called the roll of Elected Officials. All were present with the exception of Commissioner <br />Andrew Meadows who was unable to attend due to being out of town. Since this meeting was a workshop <br />and not a Regular City Commission meeting, an Excuse of Absence was not necessary for Commissioner <br />Meadows. <br />4. DISCUSSION ITEMS <br />A. Financial Status and General Fund Forecast <br />Presentation: City Manager Randy Newlon gave a presentation documenting the City's current financial <br />status and General Fund l 0 -year forecast which included the following components: <br />Analysis of Major Fund Balances <br />General Fund Analysis and Projections <br />o Assumptions for Projections <br />o Projected Millage Rates (2023-2032) <br />o Projected Ad Valorem Tax Levy <br />o General Fund Forecast FY2023-FY2027 <br />o General Fund Forecast FY2028-FY2032 <br />o General Fund Forecast FY 2023-FY2032 <br />• General Fund Unrestricted and Reserve FY 2023-2032 <br />o Questions? <br />Discussion: Discussion ensued which included: FEMA (Federal Emergency Management Agency) funds; <br />potential for LOGT (Local Option Gas Tax) Fund monies to diminish annually; impact fee revenues; sales tax <br />revenues and potential effects of sunset of penny sales tax; debt service; interest rate of 1.85% for loan for <br />advance on sales tax revenues for investment in infrastructure, loan to be paid off in 2025; projected road <br />projects to be funded at least partially through the penny sales tax revenues; importance of supporting <br />reauthorization of the penny sales tax for the next generation; use of ARPA (American Rescue Plan Act) <br />funds under the City Commission approved ABPA Plan; how depreciation of assets is accounted for in <br />projections; residential solid waste fees; and concerns regarding accuracy of Census population data. <br />B. Parks Bond Project Funding <br />Presentation: Public Works & Utilities Director Kelly Brock gave a presentation of Parks Bond project <br />funding which included the following components: <br />Parks Bond Projects Update <br />o Background <br />o Secret Lake Park <br />o Lake Concord Park Art House Expansion <br />0 Wirz Park <br />