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10-05-05 Town Council Minutes(2) Snowmass Village Town Council Special Budget Meeting October 05, 2005 COUNCIL PRESENT: Arnie Mordkin, Douglas Mercatoris, John Wilkinson, Bill Boineau, Sally Sparhawk COUNCIL ABSENT All Council Member were present STAFF PRESENT: Mike Segrest, Town Manager; Marianne Rakowski, Finance Director; Brandi Lindt Assistant Finance Director; Susan Hamley, Marketing Director; John Dresser, Town Attorney; Rachel Elliott, Administrative Assistant to Town Manager; Mark Kittle, Chief Building Official; Dave Joyner Fleet Supervisor; John Baker, Road Supervisor; Chris Conrad, Planning Director; Dave Ogren, Solid Waste Supervisor; Jason Haber, Economic Resource Director; Hunt Walker, Public Works Director; Dave Peckler, Transit Manager; Joe Coffey, Housing Manager; Rhonda B. Coxon, Town Clerk Item No. 1: Review of the Budget Transmittal Council Member Wilkinson asked for a briefing on the process and protocol. Mayor Mercatoris stated that it is the Town Councils fiduciary responsibility to review the budget and be aware of the implications of the budget. He noted that four years ago the Town Council decided to review the budget by a Power Point presentation prepared by the Finance Director Marianne Rakowski. This year the Town Council requested more detailed information but not to the point of reviewing each department line by line. This is what the Finance Director has prepared for Town Council review. Mayor Mercatoris noted this is also a good time to discuss philosophy with Department and Division heads present. There is no vote required at today’s meeting. This is work session time and any changes to the budget will be made and presented to Town Council at the Regular October Town Council Meetings. Council Member Sparhawk thanked the Finance Director Marianne Rakowski for the wonderful detailed information that was provided to Town Council. Town Manager Mike Segrest explained the philosophy of the budget, which was put into place three years ago. He started the presentation by stating that the Financial Advisory Board has reviewed this budget and they stated they were comfortable with the financial state of the Town as presented and recommends approval of the budget. One member of the FAB requested that the Town Council consider establishing a debt limitation and for Town Council to determine 10-05-05 Page 2 of 3 what percentage of the debt limit they feel comfortable with having outstanding at any point and time. After a lengthly discussion the Town Council and the Town Manager felt that the Town does a very good job of monitoring it’s debt limit and debt is voted for by the electorate and our Bond counsel is always on top of the Town’s A bond rating. They also felt this discussion would satisfy the request of the FAB. Finance Director Marianne Rakowski noted that there is no legal debt limit, it is based on the market which is roughly 10 ten percent of the Town’s assessed valuation. Town Manager Mike Segrest explained the current budget philosophy:  Balance on-going Revenues/Expenditures  Identify opportunities for Cost/Service Efficiencies  Use most restricted funds first  Manage Equipment Replacement Program  Identify funds available/reserves  Use one-time funds for one-time costs  Identify Capitol Improvement Project He went on to explain the various funds and stated that on page 6 staff listed Budget Policies/Issues that Town Council will be asked to comment on at some point in this work session. Mayor Mercatoris noted that on page 2 under Sales Tax the 4.89% increase in Sales Tax for the Town and County might be a mistake it is probably not the identical number. The Finance Director will check these numbers for accuracy. The Town Council asked to go through the transmittal pages one page at a time. Council Member Mordkin inquired about the DUI Enforcement, this grant is used for overtime for the police officers. This grant expires in 2006 and the Police Department can reapply after one year. Town Council requested Chief of Police Art Smythe continues the level of service even without the grant money for 2007. Council Member Wilkinson asked what the Ski Company contribution from the Burnt Mountain agreement was. This agreement came from the 1994 Burnt Mountain Agreement and it is design to contribute to the bus service because the Ski Company does not pay Sales Tax. This year’s contribution is $1.24 at about 36% of the operating and maintenance of the Town’s bus service and if you ad capitol to that equation it would be about 27%. The Town Council discussed at length the Capitol Improvements Projects for the Marketing and Special Events Board and agreed to discuss again when they get to the Marketing Budgetlater in this presentation. Council Member Mordkin would also like to discuss the “Marketing” portion of the Marketing and Special Events program. 10-05-05 Page 3 of 3 Council Member Wilkinson is concerned about Route 8 with the Pool and Recreation center coming aboard, Town Manager Mike Segrest and Transit Manager David Peckler will monitor this route closely and adjust to fixed Route if the demand is there. NOTE: TOWN COUNCIL TOOK A FIVE MINUTE BREAK AT THIS TIME At this time Town Manager Mike Segrest and Finance Director Marianne Rakowski reviewed Revenues, Expenditures, Transfers and each Fund with Town Council. Mayor Mercatoris asked if the chart on page 12 reflecting the Sales Tax for Town of Snowmass Village and Pitkin County could show percents on the chart. Public Works Director Hunt Walker stated he would be presenting the pool th budget at the Regular Meeting of the Town Council on October 10. Item No. 2: ADJOURNMENT There being no further discussion, Council Member Mordkin made a motion to adjourn the Special Meeting, seconded by Council Member Wilkinson. The motion was approved by a vote of 5 in favor to 0 opposed. The Meeting adjourned at 11:58 a.m. This set of Minutes was approved by Town Council during the Regular Meeting of October 24, 2005.