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<br />Summary Minutes: Special City Commission Meeting September 8, 2005 <br />First Budget Hearing <br /> <br />Sunny Isles Beach, Florida <br /> <br />second hearing of the budget. He said that we have one major item that is in the fines and <br />forfeiture funds and that is the purchase of a new boat. He asked if we have to replace the <br />other boat, can we use this fund to do that, and City Attorney Ottinot said if you bought the <br />boat out of general funds it would be difficult to justify it from forfeiture funds to replace it. <br /> <br />Mayor Edelcup asked about Capital Outlay, we never seem to show other capital sidewalk <br />repair, and City Manager Russo said that the sidewalk repair has all been in conjunction with <br />projects that we have been doing. He said just a few years ago the City replaced all the <br />cracked sidewalk sections, and still has a life and where it is bad we have been replacing it <br />with projects. He said if something came up or something happened and something needs to <br />be fixed, we certainly have the funds in the Capital budget to just go in and do it. <br /> <br />Commissioner Iglesias noted that we don't seem to have a Capital Improvement Reserve for <br />the future, we just did the Golden Shore pump station which will have about a 20-year life on <br />it which means in about 18 years, what we paid $4.5 Million for, we are going to probably <br />wind up paying $18 Million to $20 Million, drainage a $6 Million project, which in 20 years <br />we are looking at $24 Million. He said right now they are doing the resurfacing and drainage <br />structure of pipe realignment and pump stations that they did when he started with DOT, and <br />he would like to see somewhere along the line that we don't have future generations saying <br />this Commission put the burden on them. <br /> <br />Mayor Ede1cup said historically governmental funding has always been on a pay as you go <br />and not on a reserve basis, in fact, the accounting financial statements specifically show that <br />we are exempted from general exempting account and principals where you actually have to <br />be funding and taking depreciation charges, governments don't do that because of their <br />"taxing authority" but it is something that we should look at and the only place that you can <br />legitimately put it would be in our surplus that we keep accumulating every year which has <br />been growing at $1 Million every year. <br /> <br />Ms. Watson said that the under grounding and drainage all come from stormwater which is an <br />enterprise fund, it is not your general fund which is not the same, so if you were going to do <br />that, funds would be coming from a different area, from stormwater fees, or grants, if you are <br />going to try to get a reserve you really have to look at increasing your stormwater fees. City <br />Manager Russo said that there has to be ways of breaking that up such as road resurfacing, <br />curbing, and the work. <br /> <br />Mayor Edelcup said that there is a partial solution for what Commission Iglesias is <br />suggesting, that all the money that the City is going to receive for the sale of TDRs, is <br />designated that it can only go for capital expenditures so some of that money, there is going <br />to be $13 Million coming in on just one project. City Manager Russo said that at the end of <br />each fiscal year you should make the determination then ,because as we already know, for <br />example, what he just mentioned about the money for the image processing, at the end of the <br />year see how much is in there and put a piece aside for each of these projects. Mayor <br />Edelcup said that we need to look at that in conjunction with TDR money and other capital <br />monies coming in because he feels we will find that a lot of that question can be answered <br />with that kind of money but that is not to say that we shouldn't every year go through the <br /> <br />3 <br />