Item A - Civic Center Vision - Laserfiche WebLink

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Use of Resources for Specific Purposes The policies discuss the appropriate use of specific revenues (B.9, C.4, C.6). In the General Fund, the City would not normally earmark specific revenues for specific purposes. For capital projects, however, the City may secure a dedicated revenue source to fund the projects. Non- recurring revenues are used for limited-duration services, capital projects, equipment require- ments or services that can be terminated without significant disruption to the community. A plan for funding the Civic Center vision should include dedicated revenue sources and should take advantage of non-recurring revenues whenever possible. Cost Recovery for City Services The City's numerous funds are created in order to separately track and evaluate various services and operations, as well as to meet legal and professional accounting standards (B.2). Some of those funds are related to fee-supported services. These services have cost-recovery policies established by the City Council (C.2). The policies consider the relative public/private benefits received from the services being provided. The policies also ensure that rates are set to be equitable and competitive, and that they will cover the percentage of the total cost deemed appropriate. The City's revised its practice around recovering the cost of downtown office space so that the various fee-supported services housed in privately-leased facilities contribute the same level towards facility use and replacement as services housed in a City-owned facility. The capitalize- tion charge is paid by all general office space uses located in the downtown area. The funds generated by the capitalization charge are placed in the Facility Reserve and dedicated towards replacement of City Hall and other downtown office space. Use of Bonding Capacity The appropriate use of the City's bonding capacity is addressed in the policies (D.3, D.7). General Obligation bonds are to be used for major capital construction or improvements in support of general municipal services. The General Fund may be pledged as a primary or secondary source of repayment of long-term debt obligations when it is in the best interests of the City, within prudent limits. A plan for funding the Civic Center vision should include the possibility of using General Obligation bonds if appropriate, because general municipal services (such as police, municipal court, City Council, etc.) are located within those offices. In addition, the plan should also consider the use of General Fund debt, up to prudent limits established by the Budget Committee. L:\CMO\2004 Council Agendas\M040714\S040714A. doc