HomeMy WebLinkAbout11/10/04 AGENDA CITY COUNCIL 345 6th Street, Suite 600, Bremerton, WA 98337 ~ (360) 473-5280 <~ Fax (360) 473-5251
PLEASE NOTE-THE COUNCIL MEETINGS ARE NOW BEING HELD IN THE NEW
"NORM DICKS GOVERNMENT BUILDING" LOCATED AT 345 6TM STREET
NOVEMBER 10, 2004
CITY COUNCIL MEETING AGENDA
1. PRE-COUNCIL STUDY SESSION: 5:00 - 5:30 P.M. in COUNCIL CONFERENCE ROOM 603
A. General Council Business
B. 15-Minute Executive Session to "Re¥iew Labor Negotiations" per R.C.W. 42.20.140(4)(b)
2. CALL TO ORDER: 5:30 P.M. in MEETING CHAMBERS LOCATED ON FIRST FLOOR
A. Pledge of Allegiance
B. Invocation
3. PUBLIC SERVICE ANNOUNCEMENTS
4. CONSENT AGENDA
A. Claims & Check Register (#AB04-233)
5. NEW BUSINESS - There are no New Business Items this week...
6. ADJOURNMENT OF CITY COUNCIL BUSINESS MEETING
CITY COUNCIL STUDY SESSION
Immediately following the City Council Meeting, the Council Members will reconvene in COUNCIL
CONFERENCE ROOM 603 for a LEGISLATIVE REVIEW MEETING to hear presentations on the following
proposed items. Please note that no action will be taken, and the content of these items are subject
to change...
1. Review of proposed Resolution to authorize an Interfund Loan Extension from the "Equipment
Rental & Reserve Fund (510)" to the '~/astewater Fund (451)" in an amount not to exceed
$2.5 million - Phil Williams, Public Works Director; and Michael Wilson, Finance Director
2. Review of proposed Resolution to authorize an Interfund Loan Extension from the "Equipment
Rental & Reserve Fund (510)" to the "ULID No. 2002-01 Fund" in an amount not to exceed
$1,056,384 - Phil Williams, Public Works; and Michael Wilson, Finance Director
3. FY 2005 Budget Work Session "Department Review" - Mayor Cary Bozeman; and Michael
Wilson, Financial Services Director
m Americans with Disabilities Act (ADA) accommodations provided upon request. Those requiring special
..-- accommodations should contact the City Clerk's Office at (360) 473-5323 by noon on the Monday preceding the
Council meeting.
DATE SUBMITTED: ll/3/04
AGENDA BILL
CiTY OF BREMERTON
CITY COUNCIL
SUBJECT:4Extension ofinterfund loan Committee Meeting Date: 11/10/04
from the Equipment Rental & Reserve Fund COUNCIL MEETING Date: 11/17/04
(510) to the Wastewater Fund (451) Department: PW&U
previously authorized by Resolution #2918 Presenter: Phil Williams
Phone: 473-5755
SUMMARY: On 1/7/04, City Council authorized the Director of Financial Services to issue a loan
from the ER&R Fund (510) to the Wastewater Fund (451) in an amount not to exceed $1,500,000.
$700,000 was loaned in January 2004 and $400,000 in February and October to cover cash flow needs
in the Wastewater Fund.
A long-term (8-year) financial analysis was completed by an outside consultant (EES) in August and
rate recommendations were forwarded to & passed by City Council. These rate adjustments were
designed to bring the utilities to a stable financial condition over a 3 year period. The Wastewater
Utility may need the ability to borrow money until the full package of rate adjustments are in place in
2007 and the last payment is made on the 1994 Revenue bonds for the Wastewater Treatment Facility
in September 2007 ($2,728,000).
This resolution authorizes the Director of Financial Services to extend the current terms of the
existing loan to include a cap of $2,500,000 and a due date of December 31, 2005 at the existing
interest rate of 2.5% per an_num. An extention of this loan beyond 12/31/05 would require separate
approval by City Council.
ATTACHMENTS: Resolution #
FISCAL IMPACTS (Include Budgeted Amount): On the current balance of $1.5 MM an interest
payment of approx $30,000 will be made in early 2005 (2004 13a' period) on the existing loan
balance. For 2005, interest on all outstanding balances will accrue at 2.5% per annum.
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTO EY:
FINANCE DIRECTOR:
FISCAL/BUDGET:
OPERATIONS: CONSENT AGENDA []
COUNCIL PRESIDENT:
RECOMMENDED MOTION: I move to approve Resolution No. authorizing the Director
of Financial Services to extend thc existing interfund loan f¥om the E~-~und to fl~e Wastewater
mility in an amotmt not to exceed $2~5 million and a due date of 12/31/05.
CO[I~CIL ACTION: [] Approve ~_] Den3 ~ Table [] Cootiatte [~] No Action
RESOLUTION NO
A RESOLUTION of the City Council of the City of Bremerton,
Washington, authorizing interfund loans to the Wastewater Utility
Fund from the Equipment Rental & Reserve Fund.
WHEREAS, the Wastewater Utility Fund (Fund 451) has a current cash shortfall;
and
WHEREAS, the Wastewater Utility Fund has a history of cash deficiencies and
the Wastewater Utility Fund currently does not have sufficient resources to provide cash flow
needs without interim funding support; and
WHEREAS, reserve cash in an amount sufficient to meet the Wastewater Utility
Fund's interim funding needs is presently on hand within the Equipment Rental & Reserve
(ER&R) Fund (Fund 510) to accommodate an interfund loan through the end of 2005;
WHEREAS, Pursuant to Resolution No. 2918, the City Council on January 27,
2004 authorized an interfund loan from the ER&R fund to the Wastewater Fund in an amount up
to $1.5 million dollars and that, to date, all of this $1.5 million dollars has been transferred; and
WHEREAS, a long term financial study of the utilities has now been completed
and a program of rate adjustments for the Wastewater Utility has been adopted by the City
Council, and
WHEREAS, the long range plan shows continuing deficits in cash flow for the
Wastewater Fund until the last payment is made on the 1994 Wastewater Revenue Bonds in
September 2007.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BREMERTON,
WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City of Bremerton's Director of Financial Services is hereby
authorized and directed to extend and increase the amount of available loan funds from the
ER&R Fund (Fund 510) to the Wastewater Utility Fund (Fund 451) as set forth in Resolution
No. 2918 from $1,500,000 to an amount not to exceed $2,500,000 to meet the cash flow needs of
the Wastewater Utility Fund. This loan shall bear interest at a rate of 2.5% per annam and shall
be repaid to the Equipment Rental and Reserve Fund from the Wastewater Utility Fund on or
before December 31, 2005.
SECTION 2. Severabilit~. If any one or more sections, subsections, or sentences
of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the
validity of the remaining portion of this Resolution and the same shall remain in full force and
effect.
SECTION 3. Effective Date. This Resolution shall take effect and be in force
immediately upon its passage.
PASSED by the City Council of the City of Bremerton, Washington, on this day of
2004.
DAREN NYGREN, Council President
APPROVED AS TO FORM: ATTEST:
ROGER LUBOVICH, City Attorney PAULA JOHNSTON, City Clerk
DATE SUBMITTED: 11/3/04
AGENDA BILL
CItY OF BREMERTON
_ CITY COUNCIL
SUBJECT:SExtension of existing loan from Committee Meeting Date: 11/10/04
the ER&R Fund to ULID 2002-1 Fund COUNCIL MEETING Date: 11/17/04
(established under Resolution #2899). Department: PW&U
Presenter: Phil Williams
Phone: 473-5755
SUMMARY: There is an outstanding loan from the ER&R Fund (Fund 510) to the ULID 2002-1
Fund (Fund 308) in mi amount not to exceed $1,056,384 and with an expiration date of March 1,
2004 (Resolution #2899). The project is now complete and the final costs are known. The project
was able to complete construction while borrowing only $500,000 from the approved interfund loan.
The project must now be closed out and bonds sold to pay the balance owing to the ER&R Fund. Any
additional costs on this project will come directly from the Water Fund (Fund 401). There have been
delays in getting the project to this point and an extension of the due date is needed. It is requested
City Council authorize the Director of Financial Service to extend the due date for repayment of the
existing interfund loan from the ER&R Fund to March 1,2005 and reduce the authorized amount to
$500,000.
ATTACHMENTS: Resolution #
FISCAL IMPACTS (Include Budgeted Amount): The additional interest due to the ER&R Fund for
a 12-month extension of the current balance is estimated to cost approximately $12,500.
APPROVALS: /,~-'~ ,/~ .
F1NANCEDIRECTOR: (.~ ~/~/-~ t"
FISCAL/BUDGET:
OPERATIONS: CONSENT AGENDA []
COUNCIL PRESIDENT:
RECOMMENDED MOTION: I move to approve Resolution No. authorizing the Director
of Financial Services to extend the due date for the existing interfund loan from the ER&R Fund to
the ULID No. 2002-1 Fund to March 1,2005 and reduce the authorized amount to $500,000.
OUNCIL ACTION: [] Approve [_'~ Deny [] Table [] Continue [~ No Action
RESOLUTION NO
A RESOLUTION of the City Council of the City of Brcmerton,
Washington, authorizing an interfund loan to the ULID NO. 2002-
01 Fund from the Arterial Street Fund.
WHEREAS, thc City Council approved Ordinance 4837 on December 4, 2002,
authorizing the fbrmation of Utility Local Improvement District (ULID) No. 2002-01; and
WHEREAS, the ULID No. 2002-01 Fund (Fund 403) needs interim financial
resources in order to fund the construction of thc water system capital improvements that are to
provide special benefit to property owners within the boundaries of ULID No. 2002-01; and
WHEREAS, such interim funding is needed within thc ULID No. 2002-01 Fund
until the capital improvement project has been completed, final assessment roll established and
revenue bonds issued; and
WHEREAS, reserve cash in an amount sufficient to meet the interim funding
needs of ULID No. 2002-01 is presently on hand within the Arterial Street Fund (Fund 101); and
WHEREAS, the City Council authorized a loan from thc ER&R Fund on August
13, 2003 in thc amount of $1,056,384 to ULID No. 2002-01 Fund with an expiration date of
March 1, 2004; and
WHEREAS, the current balance outstanding on this loan is $500,000 and
additional funds beyond this amount will not bc required; and
WHEREAS, the construction of this project is now complete but delays in its
completion and closcout require this loan to be extended with repayment by March 1, 2005;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BREMERTON,
WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City of Bremerton's Director of Financial Services is hereby
authorized and directed to execute an interfund loan from thc Arterial Street Fund (Fund 101) to
the ULID No. 2002-01 Fund (Fund 403) in the amount not to exceed $500,000 to cover the
expenses for the ULID capital development and administration. This loan shall bear interest at a
rate based on the monthly average yield from the Washington State Local Government
Investment Pool, and shall be paid to the Arterial Street Fund from ULID No. 2002-01 Fund on
or before March 1, 2005.
SECTION 2. Severability. If any one or more sections, subsections, or sentences
of this Resolution are held to be unconstitutional or invalid, such decision shall not affect thc
validity of the remaining portion of this Resolution and the same shall remain in tull force and
effect.
SECTION 3: .Effective Date. This Resolution shall take effect and be in force
immediately upon its passage.
PASSED by the City Cmmcil of the City of Bremerton, Washington, on this __ day of
2004.
DAREN NYGREN, Council President
APPROVED AS TO FORM: ATTEST:
ROGER LUBOVICH, City Attorney PAULA JOHNSTON, City Clerk
2005 City Budget
Council Study Sessions
I Wednesday, November 10 Budget Session (Immediately following Council Meeting)
GENERAL & SPECIAL REVENUE FUNDS
Executive
Financial Services
Parking System Operating - SPECIAL REVENUE FUND
Police/Fire Pension - TRUST AGENCY FUND
Ituman Resources
Community Development
Abatement Revolving - SPECIAL REVENUE FUND
Community Development Block Grant - SPECIAL REVENUE FUND
Legal
Risk Management -INTERNAL SERVICE FUNDS
Municipal Court
Law Enforcement
Police Special Projects - SPECIAL REVENUE FUND
Fire/Emergency Medical
Parks/Recreation
Gold Mountain Golf Course - ENTERPRISE FUND
~'~~glneering
Arterial Streets - SPECIAL REVENUE FUND
Streets SPECIAL REVENUE FUND
General Facilities
Economic Development
- Conference Center Operation - SPECIAL REVENUE FUND
Non-Departmental
Summary of Employee Travel
Summary of Capital Equipment Purchases
Contingency Reserve SPECIAL REVENUE FUND
Civic Improvement (Hotel/Motel Tax) - SPECIAL REVENUE FUND
DEBT SERVICE FUNDS
Bond Fund
LID Guaranty
CAPITAL IMPROVEMENT FUNDS
Conference Center/Parking Facility Capital
Public Safety Capital Projects Park Development
Maritime Park Capital Project
Government Center Capital
General Government Capital Improvement (Real Estate Excise Tax)
ENTERPRISE FUNDS
Water Utility (Water Operating, Water Capital)
Wastewater Utility (Wastewater Operating, Wastewater Capital)
Stormwater Utility (Stormwater Operating, Stormwater Capital)
ULID 2002-01
Utility Debt Reserve
INTERNAL SERVICE FUNDS
Equipment Rental Reserve
Information Technology
STAFFING/PERSONNEL
Staffing Changes
Staffing Levels (job classification and salary range)
I Tuesday, November 16 Budget Session (5:00 to 7:00 pm) I
To continue items not discussed at first session on November 10...