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6. STUDY SESSION (501) <br />A. FY 2005/2006 Budget Study Session 2 <br />Introduction — <br />City Manager Everett stated that the last hearing was devoted to the General <br />Fund budget and the second session would be spent on the Capital <br />Improvement Program, the Redevelopment Agency; and the Water and <br />Sewer budgets. <br />II. Follow Up from June 20, 2005 — <br />Financial Services Director Ponty referred to the presentation that showed <br />assumptions using reserves to cover 67% of the deficit in 2006/07 and 50% <br />of the deficit in 2007/08. He explained that Council Member Foust asked for <br />information showing impacts of using 75% of reserves in 2006/07 and 67% <br />in 2007/08. He stated that the results are very similar, leaving $14,069,000 in <br />reserves at the end of 2007/08 which is equal to almost 19% of the revenues <br />and right under the ceiling of 20 %. The first scenario leaves reserves at <br />19.55 %, both scenarios leave the City reserves in a sound position. He <br />suggested a status report come back in January. <br />Mayor Ira stated that along with the recap in January, due to the importance <br />of the success of the downtown an analysis of the estimated needs is <br />necessary. He requested that a more precise projection of revenues be <br />brought back in January with focus on the reserves. He referred to the 1997 <br />Police Department staffing study, stating that it may not be applicable any <br />longer in order to provide the presence needed in the downtown cinema <br />area. He requested that information be provided in advance of the January <br />meeting date. <br />Ill. Capital Improvement Program — <br />Manager of Engineering and Construction Chang explained the Capital <br />Improvement Program and an overview on the various funds utilizing a <br />Powerpoint presentation (on file in the City Clerk Department). <br />Engineer Delgado explained the roadway management program and <br />Engineer Herrera explained the distribution system replacement program. <br />Council comments and questions ensued with Council Member Howard <br />requesting support for her to work with the Alliance to do a survey on the <br />need of a shuttle service. Coments from Council included the concern with <br />operational costs stating the benefit of a survey and creation of a baseline <br />JOINT MEETING MINUTES JUNE 27, 2005 <br />CITY COUNCIL AND REDEVELOPMENT AGENCY PAGE 5 <br />MINUTE ORDER BOOK NO. SO <br />Page No. 515 <br />