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From YouTube: Aiken City Council Zoom Work Session January 25, 2021
Description
Aiken City Council Zoom Work Session
January 25, 2021
5 PM
A
We're
going
to
go
on
at
this
time
and
start
our
work
session
good
afternoon,
everyone
we
appreciate
you
joining
us,
those
who
are
live
streaming
it
we
appreciate
it.
We
have
a
full
agenda,
so
we
want
to
be
respectful
of
everyone's
time.
So
we're
going
to
call
this
january
25th
meeting
of
the
aiken
city
council
to
work
session
to
order,
and
at
this
time
we
have
several
presentations.
The
first
is
our
capital
planning
model
update.
A
B
B
However,
there
is
no
commitment
yet
to
do
most
of
these
projects,
but
council
has
heard
over
the
last
few
years,
at
least,
if
not
longer
about
these
various
projects,
but
this
is
sort
of
a.
This
is
a
a
a
picture
of
how
we
can
get
there,
and
this
will
begin
some
discussions
about
prioritizing
based
on
what
council
believes
or
the
best
is
the
best
approach
to
to
go
in
terms
of
order
of
projects.
B
C
Greg
good
evening,
everybody-
hopefully
you
all,
can
hear
me.
Thank
you
very
much
for
having
me
here
tonight,
good
to
be
back
in
front
of
you
I'll,
be
virtually
here.
As
stuart
said,
we've
got
some
materials
to
share
with
you
tonight
just
about
long-term
capital,
financial
planning,
and
so
I
am
going
to
share
my
screen
with
you.
I
have
is
the
host
able
to
enable
me
to
share
my.
C
Screen,
I
don't
know
if
the
host
is
still
on.
Let's
try
that
here
there
you
go.
Let
me
pull
up
my
presentation.
I
believe
you'll
have
this
presentation
in
your
materials
but
wanted
to
pull
it
up
online
here
as
well.
So
we
have
it
in
front
of
us
just
real,
quick
by
way
of
overview
in
terms
of
capital,
financial
planning
for
the
city
we've.
You
know,
we've
served
as
your
financial
advisor
for
many
years
now
back
in
2017,
we
built
what
we
very
unoriginally
call
our
capital
planning
model
for
the
city.
C
Since
that
time
we
have
updated
it
we've
enhanced
it
added
a
few
other
bells
and
whistles
to
it,
but
it
is
an
interactive
dynamic
model.
It
allows
us
to
drop
in
a
lot
of
different
inputs
play
around
with
different
assumptions
and
see
what
the
outputs
of
those
assumptions
and
inputs
are.
It's
an
excel
based
model
where
we
can
turn
things
on
turn
them
off
push
projects
back
change
amounts
in
real
time.
It'll
show
what
the
impact
is.
C
We
start
with
all
of
these
models
with
certain
inputs
every
model
is
tailored
to
the
individual
entity.
I
should
say
that
so
this
is
totally
tailored
to
the
city
of
aitkin
here,
but
most
of
these
models
have
some
of
the
same
inputs.
Here
we
always
start
with
your
existing
debt
service
structure,
so
we
have
dropped
that
in
that's
really
important
to
know
what
outstanding
debt
the
city
has,
so
that
we
know
when
it
rolls
off
what
your
capacity
is
for
additional
debt,
et
cetera.
So
we've
got
that
in
there.
C
Another
big
item
input
is
your
financial
performance,
both
historical
and
projected,
and
so
we've
we've
got.
You
know
five
years
of
historical
audited
information
in
there
that
helps
us
look
at
trend
lines
for
different
revenues
or
expenditures,
and
then
we
are
projecting
out
your
revenues
and
expenditures
going
forward.
So
we
can
see
as
if
you
fund
certain
projects,
what
the
impact
would
be.
C
Now
the
big
caveat
on
all
this
is
that
for
those
projected
financials
they're
based
on
a
lot
of
different
assumptions
and
what
you'll
find
here
is
for
most
of
these
assumptions
for
your
revenue
and
expenditure
line
items
we've,
we
have
your
fiscal
year,
2020
numbers
your
estimated
numbers
there
for
final
fiscal
year
2020
and
we're
using
that
as
our
base
year
going
forward
by
and
large
we're
keeping
all
of
our
revenues
and
expenditures
the
same,
except
for
one
or
two
expenditure
line
items.
We've
made
some
adjustments,
but
that's
always
a
big
variable.
C
If
we,
you
know,
make
an
adjustment
on
a
revenue
side,
that's
obviously
going
to
help
an
expenditure
side
that
could
impact
things.
So
I
want
to
make
that
caveat
a
lot
of
different
variables
in
place.
We've
we
started
with
some
real
high
level
assumptions
and
can
always
dig
into
it
kind
of
the
last
piece,
and
the
piece
we'll
focus
on
tonight
that
we
drop
in
is
whether
it's
a
formal
capital
improvement
plan
or
wish
list
of
projects.
C
As
and
this
comes
from
from
city
staff
and
as
steward
said,
we
start
with
everything
we
want
to
drop
everything
in
there,
because
the
model
is
such
that
we
can
turn
projects
on
turn
them
off.
Re-Prioritize
push
projects
back,
look
at
a
you
know
a
downsized
project,
and
so
we
start
with
everything
in
here,
and
so
when
we
go
through
this
capital
plan,
you'll
see
it's
a
big
list,
a
lot
of
projects
out
there
that
by
no
means
means
you
all
have
committed
to
doing
all
these.
C
We
put
them
all
in
for
illustration
purposes
to
see
what
the
what
the
impact
would
be.
So
we
start
with
those
various
inputs
in
terms
of
outputs.
You
know
it's
the
obvious
ones.
You
know,
what's
the
impact
on
the
identified
revenue
stream,
if
that's
you
know,
property
tax
rate,
if
it's
in
the
water
and
sewer
fund,
it's
water
and
sewer
revenue,
storm
water,
revenues,
hospitality,
etc.
C
So
let's
start
out
with
your
capital
improvement
plan,
and
so
this
there's
a
couple
of
different
ways
to
group
this,
and
so
what
we
have
here
and
I'll
blow
this
up
just
a
little
bit
here.
This
is
the
full.
You
know
working
with
your
staff,
the
full
list
of
projects,
a
number
of
projects
across
all
departments
over
the
next
15
to
20
years.
C
So
it
is
truly
a
long-term
capital
improvement
plan
or
list
of
projects
you'll
see
over
the
next
five
years,
the
the
near
term,
fiscal
21
through
fiscal
26,
there's
334
million
dollars
worth
of
projects
on
that
list
and
then
there's
other
projects
outside
of
that
five-year
term,
primarily
in
the
water
and
sewer
side
or
on
the
water
and
sewer
side.
There's
a
couple
of
different
ways
to
group
these.
What
you're,
seeing
here
on
this
page
is
it's
grouped
by
either
department
or
project
specific,
and
so
we've
got
the
bigger
ones:
you've
got
parks
and
rec.
C
You
know
41.5
million
dollars,
you'll
see
that's
largely
one
particular
project
in
there,
roads
and
streets,
130
million
and
then
across
shaw's
creek,
the
water
treatment
plant
upgrade
the
water
and
sewer
and
some
of
the
wells.
You
know
that's
another
big
number,
roughly
112
million
dollars
across
those
different
categories.
So
you
know
big
numbers
across
all
of
these
different
departments.
Again
does
not
mean
you're
going
to
fund
every
single
one
here,
but
that's
that's
what
we're,
starting
with
that's
what
we
have
turned
on
initially
to
show
you
the
impact
the
way.
C
So
we
start
with
this
list
provided
by
staff
and
then
we're
going
to
group
that
up-
and
so
you
all
have
different
revenue
streams
at
your
disposal.
You
can't
use
all
of
those
revenue
streams
for
every
single
one
of
these
projects
or
certain
you
know
legally
available
revenues
have
to
go
to
certain
projects.
You
can't
use
water
and
sewer
revenues
for
a
hospitality
project,
necessarily
and
vice
versa,
and
so
we
want
to
group
these
by
your
different
funds
or
funding
sources
available,
and
so
those
primarily
fall.
The
funds
we're
focused
on
are
your
general
fund.
C
Your
hospitality
fund,
your
transportation
and
public
safety
fund
water,
sewer,
storm
water,
and
then
you
have
your
cpst
and
then
you
have,
you
know,
grant
funding
third-party
funding
outside
city
revenue
sources,
and
so
you
can
see
the
breakdown
and
we're
really
focused
on
this
five-year
period.
That's
the
most
kind
of
well-known
defined
set
of
projects
and
amounts
and
timing
there,
and
so
you
can
see
how
that
is
grouped
across
the
board.
C
So
that's
another
way
to
group
that
same
334
million
and
then
a
final
way
we
look
at
this
is
you've,
got
your
different
funds
or
revenue
sources
available
to
pay
for
these
projects,
and
then
how
do
you
actually
pay
for
them?
Is
it
cash?
Is
it
debt?
Is
it
third
party
grants
or
funding
sources
or
likely?
A
combination
of
all
three
of
those,
and
so
the
scenarios
we
have
turned
on
and
that
will
go
through
today.
These
are
just
initial
scenarios
for
illustration
purposes
of
the
334
million.
C
C
So
the
way
we've
broken
this
down,
we
want
to
start
with
the
water
and
sewer,
that's
your
biggest
fund
and
then
we'll
tackle
storm
water,
hospitality,
transportation
and
public
safety
fund
and
then,
lastly,
general
fund,
they
get
a
little
bit
more
straightforward
as
we
go,
and
what
we're
focused
on
are
again
a
few
key
outputs.
What
are
the
input?
C
Of
that
112
million
we
have
81
million
dollars
right
now
turned
on
in
the
water
and
sewer
fund,
so
the
water
and
sewer
fund
would
be
paying
81
million
dollars
of
those
of
that
81
million.
We
have
47
million
being
funded
with
debt,
34
million
with
cash
or
ongoing
system
revenues,
as
those
are
generated
on
an
annual
basis.
The
remaining
30
million
would
be
funded
with
other
financing
sources,
third-party
sources
grants
et
cetera,
and
you
can
see
how
this
is
on
a
annual
basis
over
the
next
five
years.
C
C
C
So
what
we've
done
to
start
out
is
run
two
primary
scenarios
to
see
what
the
impact
on
your
water
and
sewer
fund
would
be
if
we
funded
that
81
million
dollars
in
projects.
The
first
scenario
is
we're:
assuming
all
of
your
revenues
and
expenditures
are
flat
to
your
fiscal
2020
level.
So
that's
as
I
mentioned,
an
important
assumption.
We
got
to
make
an
assumption
to
some
level
on
these,
and
so
we've
just
flatlined
your
fiscal
2020
results,
revenues
and
expenditures
with
one
exception-
and
this
exception
really
applies
across
all
the
different
funds
and
scenarios.
C
C
for
scenario.
One
we've
assumed
no
rate
increases
as
you'll
see
and,
as
you
would
expect,
if
you're
going
to
fund
81
million
dollars
in
projects
scenario,
1
is
going
to
be
a
bit
of
a
throwaway
scenario
here.
Your
existing
revenues,
with
no
rate
increases,
would
not
be
able
to
cover
that
additional
level
of
project
funding,
but
we
wanted
to
show
you
what
that
would
look
like,
but
then
quickly
moving
to
scenario.
Two.
We
wanted
to
show
you
again.
C
C
now
for
our
purposes
again
we're
your
financial
advisor,
we're,
not
a
rate
consultant,
but
we've
made
the
assumption
that
if
you
increase
your
rates
by
10,
that's
not
a
dollar
for
dollar
in
terms
of
revenue
dropping
to
the
bottom
line,
and
so
we've
assumed
something
slightly
less,
that
nine
nine
and
a
half
percent
revenue
increase
for
each
of
those
years
again.
This
is
an
assumption
we
have
built
in
here.
We
have
not
assumed
a
question
you
may
be
thinking,
we
haven't
assumed
any
growth
in
customers
or
consumption,
or
things
like
that.
C
That's
certainly
another
assumption
we
can
layer
in
there
so
again,
starting
pretty
high
level
here,
the
main
for
a
water
and
sewer
fund,
the
main
outputs
we're
focused
on
are
debt
service
coverage
and
dave's
cash
on
hand.
Debt
service
coverage
is,
is
pretty
simply
your
revenues,
less
your
operating
expenditures,
so
that
gives
you
net
revenues
divided
by
your
annual
debt
service,
which
is
your
principal
and
interest
payments
on
your
outstanding
debt.
C
That's
a
key
one
to
focus
on
and
then
your
day's
cash
on
hand
is
your
total
unrestricted
cash
divided
by
your
annual
operating
expenditures,
so
we're
converting,
basically,
your
your
fund
balance
and
your
water
and
sewer
fund
to
a
number
of
days
that
you
could
operate
the
system.
Should
you
get
no
more
revenues?
Those
two
metrics
are
we
focus
on
those
because
whether
it
be
rating
agencies
or
banks,
lenders
they're,
the
ones?
C
Those
are
the
two
key
metrics
in
the
water
and
sewer
fund
that
they're
focused
on
in
terms
of
you
know
to
provide
some
context.
What's
a
good
target,
you
know
for
us
we
would
tell
you
you
know
a
minimum
debt
service
coverage
ratio
for
you
all
would
be
1.5
times.
That's
a
good
target,
it's
a
good
credit
quality
to
the
extent
you
can
get
higher
than
that
higher
credit
quality
typically
leads
to
a
little
bit
lower
interest
rate,
and
so
keep
that
in
mind
as
well.
C
The
the
lower
you
go,
the
kind
of
the
better
or
thinner
that
coverage
is.
It
could
impact
your
your
interest
rate
negatively
and
then
your
day's
cash
on
hand.
A
good
target
is
six
months
or
180
days.
So
those
are
things
that
we've
got
into
the
model
and
we
can
focus
on
as
we're
looking
at
these
different
projects.
C
C
C
What
you'll
see?
As
I
mentioned,
you
know
a
little
bit
of
a
throwaway
scenario
here,
with
no
rate
increases
or
anything
else.
You
all
cannot
fund
81
million
dollars
your
coverage,
which
you
all
have
been
over
two
times
so
very
good
credit
quality.
Historically,
and
that's
been
the
case
since
you
all
issued
your
water
and
sewer
debt.
C
Your
first
revenue
bond
issue
back
in
2017
time
frame,
your
coverage
would
drop
below
one
times,
and
so
your
absolute
bare
minimum
that
you
agreed
to
when
you
did
the
2017
deal-
and
this
is
in
your
master
bond
ordinance
for
all
water
and
sewer
debt-
has
to
be
1.2
times.
So
that's
the
bare
minimum.
You
all
are
falling.
You
know
into
the
1.6
1.5
times
so
not
sustainable
there
not
doable
there,
and
then
your
day's
cash
on
hand
would
clearly
drop
go
negative
as
well.
C
So
so
I
note
that
but
kind
of
quickly
moving
on
to
scenario
two
for
just
you
know
illustration
purposes
at
this
point,
if
you
had
rate
increases
of
10
per
year
for
the
next
three
years,
which
dropped
about
nine
and
a
half
percent
from
a
revenue
standpoint
to
the
bottom
line.
In
each
of
those
years,
what
would
it
look
like
to
fund
that
same
81
million
that
same
debt
versus
cash
mix,
and
what
you'll
see
is
that
our
coverage
is
back
to
looking
very
strong?
C
You
know
your
low
point
after
you
issue
that
what
you'll
find
here
is
when
you
issue
debt,
for
instance,
in
fiscal
23,
you
start
repaying
it
in
fiscal
24.
That's
why
your
coverage
drops
in
this
year,
because
you
just
issued
a
new
bond
and
you
start
repaying
it,
and
then
it
drops
again
from
26
to
27,
because
that's
the
second
bond
issue
that
we've
assumed
in
this
modeling,
but
it
levels
out
at
roughly
1.9
times,
that's
above
our
target
of
1.5,
that's
roughly
in
line
y'all.
C
As
I
said,
you've
been
a
little
over
two
times,
so
that's
a
really
that's
a
good
result
that
would
serve
you
well
in
the
interest
rate
environment
or
with
lenders
and
rating
agencies
and
get
you
a
good
interest
rate
there
on
your
day's
cash
on
hand.
What
you'll
see
is
these
are
very
good.
These
are
a
little
bit
more
at
its
low
point
about
341
days.
C
So,
almost
a
year
more
than
our
minimum
target
of
180
days
and
that's
through
fiscal
2026.,
and
so
those
looking
at
that
five-year
period
that
day's
cash-
yes,
it
builds
up
because
y'all
are
putting
in
rating
in
this
scenario
rate
increases
over
the
next
three
years.
You
may
not
need
it
all
in
those
years,
but
you're
banking,
those
revenues
that
helps
build
up
your
cash
and
then
you
start
using
some
of
those
that
cash
in
the
fiscal,
25
and
26
time
frame.
C
So
here
you'll
see
this
line
goes
straight
back
up
and
that's
because
for
right
now
we
don't
have
any
other
of
those
projects,
20
fiscal
year,
2027
and
later
turned
on,
but
I
would
note
that
right
now
again,
you've
got
another
92
million
that
city
staff
has
identified.
That
could
be
in
that
27
to
40
time
frame.
We
don't
have
those
turned
on
yet
so
it's
unlikely
or
it's
not
going
to
happen.
Where
that
keeps
going
up
and
up
you
all,
will
have
more
needs.
There's
just
more
variables
at
in
play.
C
Those
are
longer
horizon
needs
the
amounts.
The
timing
may
change.
So
we
wanted
to
focus
a
little
bit
more
on
just
the
the
near
term,
the
next
five
years.
So
I
don't
want
to
tell
you
that
picture
is
definitely
going
to
happen,
so
maybe
focus
on
the
cash
standpoint
where
we
are
at
this
level,
but
that
would
be
as
those
project
the
timing
those
amounts
evolve.
We
want
to
turn
those
on
likely.
Those
will
need
additional
revenue
increases
at
that
point
in
time
as
well.
C
I
will
I'll
keep
moving
on
through
this.
I
know
there
may
be
questions
towards
the
end,
but
again
these
get
a
little
bit
more
straightforward
as
we
go
here.
The
stormwater
fund
is
the
next
one
up.
We've
set
this
up
the
same
way
in
terms
of
the
outputs,
we're
focused
on
and
so
storm
water
again,
what
we're
looking
at
just
like
water
and
sewer,
we're
looking
at
debt
service
coverage
and
days,
cash
on
hand,
same
two
outputs
as
water
and
sewer
the
current
cip
that
we
talked
about
on
page
two.
C
That's
got
about
28
million
dollars
of
stormwater
projects
over
the
next
five
years:
fiscal
21-26,
a
lot
of
those
around
erosion
control,
pipe
replacement.
Rehab
of
that
amount.
We
have
about
12
million
dollars
that
would
be
funded
by
the
stormwater
fund
via
cash
and
debt,
and
the
remaining
16
million
would
right
now
are
sitting
anticipated
or
projected
to
be
paid
out
of
the
capital
project
sales
tax
funds.
C
This
one
is
pretty
straightforward.
We
just
have
a
single
scenario:
we've
kept
your
stormwater
fees
flat
to
fiscal
2020
levels,
kept
all
your
other
revenues
and
expenditures,
except
for
salaries,
flats
and
fiscal
21
levels,
and
so
when
we
do
that,
you'll
look
at
your
coverage.
We
do
have
one
projected
borrowing
that
we
have.
That
would
come
online
in
a
couple
of
years,
and
so
you
can
see
your
coverage
in
your
stormwater
fund
is
incredibly
strong.
C
It
would
drop
to
roughly
that
1.9
times
in
those
outer
years
once
you
issue
that
debt
still
very
strong
lower
than
where
you
were,
but
still
at
a
very
good
level,
and
then
your
day's
cash
on
hand
is
very
strong
right
now.
You'll
have
a
lot
of
cash
compared
to
your
operating
expenditures
and
that
drops
at
a
low
to
again
a
little
under
a
year,
which
is
better
than
the
six
months
on
hand
and
similar
to
the
water
and
sewer
side.
C
While
we
don't
have
any
other
projects
right
now,
outside
of
this
five-year
horizon,
you
all
will
have
other
stormwater
needs,
and
so
this
is
not
a
realistic
picture,
but
this
is
just
again
strictly
the
output
from
the
model,
and
so
from
a
from
a
stormwater
standpoint.
It
appears
no
additional
revenues
needed
to
cover
those.
C
C
Why
you
keep
this
cash
on
hand
to
help
cover
those
and,
of
course,
as
those
needs
arise,
this
picture
will
change,
and
one
thing
I
should
I
should
note
or
should
have
noted
at
the
front
end-
is
that
this
is
a
model
that
you
don't
just
do
once
and
put
on
the
shelf.
We
would
update
this
as
often
as
as
the
city
would
like,
as
you
get
new
information
in
hand
on
your
project
amounts.
Your
timing
et
cetera.
C
C
Of
that
47
million
36
million
right
now
would
be
funded
out
of
the
hospitality
fund.
The
remaining
projects
would
be
funded
out
of
either
the
general
fund,
capital
project
sales,
tax
or
grants
kind
of
slash
third-party
sources
there.
The
the
primary
of
the
36
million
the
primary
needs
are:
the
potential
need
for
a
parking
deck
at
an
estimated
cost
of
5
million
dollars,
and
then
generations
park
phase
2
at
an
estimated
cost
of
30
million.
C
This
model
assumes
that
you
know
we
would
of
the
five
million
dollar
parking
deck
project.
We
would
debt
fund
the
large
majority
of
that
issue.
Installment
purchase
revenue,
bonds
to
fund
that
project
in
the
amount
of
four
and
a
half
million.
The
remaining
five
hundred
thousand
000
would
be
paid
out
of
cash
on
hand
for
that
project.
We
would
do
that
sometimes
towards
the
end
of
fiscal
year.
2022
is
what
is
currently
in
the
model.
C
C
in
terms
of
the
different
scenarios
we've
run
to
fund
this
total
of
36
million
in
projects.
We've
got
a
scenario
1a
and
1b,
and
what
you'll
see
there
is
scenario
1a
is
just
assumed.
You
continue
to
impose
the
1
local
hospitality
tax.
That's
expected
to
generate
around
1.3
million
this
fiscal
year.
We've
assumed
that
it
will
grow
slightly
to
1.5
million
in
fiscal
2022
kind
of
get
you
back
to
where
you
were
pre-covet
levels
and
then
grow.
C
You
know
by
about
a
quarter
percent
thereafter,
expenses
held
flat
for
future
years,
except
for
salaries
again
for
this
scenario,
1a
I
wanted
to
carve
out
kind
of
isolate
just
the
parking
deck
project,
and
so
1a
does
not
assume
the
generations
park.
Phase
2
project
is
funded,
1b
is
the
same
as
1a,
but
we
have
turned
on
that
30
million
dollars
and
similar
to
that
water
and
sewer
scenario,
one.
C
So
what
we've
done
for
scenario
two
is
to
see
what
would
happen
if
we
had
a
second
one
percent
in
there.
So
a
total
of
two
percent
hospitality
tax
we've
assumed
of
the
one
and
a
half
million
that
that
extra
one
percent
would
generate.
One
million
dollars
is
available
for
debt
service.
On
that
project.
The
other
500
000
would
go
to
cover
additional
expenditures
across
the
funds
there.
C
From
a
output
standpoint,
we're
also
focused
on
debt
service
coverage,
and
here
we're
looking
for
a
minimum
target
of
one
times.
We
just
want
to
ensure
that
your
your
net
hospitality
revenues
total
hospitality
revenues
less.
The
operating
expenses
expenses
you
would
pay
out
of
that
are
enough
to
cover
your
debt
service
on
an
annual
basis,
and
then
we
want
to
ensure
not
really
looking
at
days.
Cash
on
hand
like
we
do
in
the
water
and
sewer
storm
water
funds,
but
what's
just
a
minimum
fund
balance
level
similar
to
your
general
fund.
C
What's
a
level
that
gives
you
comfort
that
you've
got
enough
on
hand
to
cover
projects
that
may
pop
up
that
you're
not
expecting
or
to
guard
against
the
downturn
in
hospitality
revenues
in
a
given
year.
So
we're
looking
at
a
couple
of
different
options
there
when
we
look
at
the
outputs
scenario
1a
again,
it's
funding,
just
the
parking
deck
project
and
then
some
of
those
minor
cash
funded
projects.
C
So
no
generations
park
phase
2
here
what
you'll
find
is
based
on
our
debt
assumptions,
essentially
that
you
fund
that
parking
deck
over
a
long
term
period
that
enables
you
to
generate
that
net
coverage
in
excess
of
one
time.
You
all
don't
have
any
existing
hospitality
debt
outstanding
right
now.
That's
why
this
is
at
it's
not
zero.
You
just
don't
have
any
debt
outstanding.
So
when
you
issued
in
fiscal
22,
you
start
paying
it
in
fiscal
23.
C
You
all
would
be
projected
based
on
the
assumptions
to
have
enough
hospitality
revenues
to
cover
that
parking
deck
project
the
debt
service
on
that
parking
deck
project
from
a
fund
balance
standpoint,
if
you
all
use
roughly
1.7
million
dollars
to
fund
you
know,
500
000,
towards
the
parking
deck
and
some
other
miscellaneous
projects
out
there,
with
cash
you're
able
to
maintain
in
excess
of
the
million
dollars
in
that
hospitality
fund
on
a
going
forward
basis.
That
seems
like
a
good,
a
good
target.
C
C
We've
just
turned
on
the
generations
park
and,
as
you
would
imagine,
if
we
were
at
just
over
one
times
without
30
million
dollars
of
debt,
yet
on
30
million
dollars
of
debt,
we're
nowhere
close
and
so
again
this
is
the
throwaway
scenario,
but
wanted
to
highlight
this
for
you,
and
so,
if
you
issue
30
million
dollars
of
debt,
your
debt
service
would
be
about
1.8
million
per
year.
So
clearly
not
enough
existing
revenues
to
cover
that
your
fund
balance
would
go
negative.
This
is
not
a
sustainable
scenario.
C
I
wanted
to
highlight
it
so
scenario:
2
is
the
same
as
1b,
but
we
just
added
another
1.
However,
you
know
that
that
30
million
dollars
of
debt
is
1.8
million
per
year.
If
you
have
another
1
hospitality
tax,
layered
in
and
that
generates
another
million
and
a
half,
a
million
of
which
goes
to
debt
service,
that's
still
not
enough
to
cover
a
30
million
dollar
project,
and
so
we
are
still
below
the
one
times
coverage
and
our
cash
will
go
negative
eventually
we'll
we'll
start
to
eat
into
all
of
our
cash.
C
C
Potentially,
do
it
in
phases
space
it
out
a
little
bit
more,
but
basically
you
would
have
to
do
something
to
fund
that
project
or
pull
from
other
revenue
streams
and
other
and
other
funds.
Here
I
have
two
more
to
go.
I
know
I'm
covering
a
lot
here
then
I'll.
Take
some
questions.
The
transportation
public
safety
fund
is
the
next
fund.
That's
that's
we're
focused
on
and
there's
when
we
talk
about
all
kind
of
transportation
and
infrastructure,
mainly
road
projects,
you
know
there's
137
million
dollars
that
are
out
there
of
that
amount.
C
130
million
are
roads
and
streets.
Those
are
ones
that
are
earmarked
either
out
of
your
cpst,
but
primarily
grants
third-party
sources.
You
know
the
the
state
infrastructure
bank
being
the
primary
one
for
those.
What
we're
really
looked
focused
on
is
the
6.8
million
that
you
would
fund
for
your
new
municipal,
complex
out
of
this
fund.
As
a
reminder,
this
is
where
a
portion
of
your
franchise
fee
revenue
goes
into
this.
C
This
fund
here,
two
percent
of
those
go
into
this
fund,
and
then
we
have
some
minor
pay:
go
projects
out
of
this
fund
two
hundred
thousand
dollars
per
year
for
some
undergrounding
of
utility
lines,
and
so
that's
that's
the
assumption
of
funding
what
would
be
funded
out
of
this
transportation
run
so
pretty
streamlined,
just
six
million
dollars
in
debt.
The
rest
would
be
in
cash
and
from
a
coverage
standpoint.
We're
looking
at
your
that
two
percent
franchise
fee
revenue
stream
on
a
projected
basis,
and
how
does
that
cover?
C
We
have
some
minor
expenditures
that
would
be
paid
out
of
that
fund
and
how
does
that
cover
your
existing
debt
service?
As
a
reminder,
your
installment
purchase
revenue
bond
that
you
issue
for
your
public
safety.
Your
police
department
is
funded
out
of
the
same
revenue
stream,
so
if
we
then
layered
on
another
six
million
dollars
for
the
municipal
complex
out
of
this
fund
that
revenue
stream
would
be
able
to
cover
both
series
of
debt
by
about
1.1
times.
C
So
you
know
you
don't
have
a
ton
of
cushion,
but
you
it
is
an
affordable
project
to
be
funded
out
of
this
revenue
stream.
This
fund,
your
fund
balance,
you
would
maintain
you
know
anywhere
from
two
and
a
half
to
three
million
dollars.
That's
been
roughly
your
pattern,
but
again
that
can
be
used
for
street
projects.
Other
things
that
pop
up
or
to
guard
against
a
downturn
in
any
of
the
franchise
fee,
revenue
collections.
C
C
C
We've
kept
your
revenues
flat
at
fiscal
2020
levels,
so
we're
not
assuming
any
tax
increase
property
tax
increase
here
and
the
only
expenditure
line
item
that
we
continue
to
assume
would
grow
would
be
your
salaries,
we're
obviously
keeping
an
eye
on
your
unassigned
fund
balance
level.
That's
the
main
target,
we're
focused
here
so
unassigned
or
a
fund
balance
your
minimum
target
of
12
it's
out
there.
C
What
we
wanted
to
highlight
in
this
fund
is
that,
while
you
don't
have
a
lot
of
projects
out
of
it-
and
you
have
a
very
good-
very
strong
fund
balance
right
now-
unassigned
fund
balance
of
around
seven
million
dollars.
So
you
know
between
25
and
30
percent
of
the
operating
expenditures,
so
a
good
strong
level,
but
at
some
point,
if
you
fund
six
and
a
half
million
dollars
worth
of
projects-
and
if
you
can
envision
your
revenues,
essentially
flatlined
and
then
your
expenses
incrementally
increasing.
C
With
that
two
percent
assumed
adjustment
and
salaries
going
forward,
then
your
kind
of
operating
surplus
is
going
to
get
narrower
and
narrower
and
eventually
go
a
deficit
in
those
later
years.
And
so
that's
why
this
is
slowly
starting
to
go
down.
Your
existing
revenue
streams
are
funding
six
and
a
half
million
of
projects,
and
your
expenses
are
outpacing
your
revenues
by
a
little
bit
each
year,
and
so
what
we
would
tell
you
here
is
you
know
this
picture
specifically.
While
it
maintains
your
minimum
fund
balance
out
through
fiscal
2030.
C
You
know,
that's
not
a
picture,
you
all
want
to
see
it's
it's
going
down
and
that's
not
sustainable.
If
we
stretched
out
another
five
years
now,
you
know,
hopefully
your
property
tax
revenue
collections,
your
growth
and
assessed
value
would
continue
to
increase
to
offset
some
of
that
growth
and
expenditures.
C
But
this
is
just
to
highlight:
you
know:
if
not,
if
expenses
outpace
revenues,
then
you
all
would
be
faced
with
well,
I
need
to
either
need
to
increase
my
revenues
or
I
need
to
push
out
some
of
the
six
and
a
half
million
dollars
of
projects
find
other
sources
to
fund
it,
etc.
So,
that's.
I
know
I've
covered
a
lot
in
that,
and
I've
probably
gone
over
my
time
here
and
so
happy
to
pause
here.
Take
any
questions
but
wanted
to
really
leave
you
with.
C
This
is
a
model
that
we've,
you
know,
spent
a
lot
of
time
with
the
city
staff
over
really
last
couple
years,
we've
updated
it
at
various
intervals
and
it
continues
to
be
a
tool
at
the
staff's
disposal.
Your
disposal,
as
you
look
at
different
projects
and
prioritize,
we
can
quickly
run
these
through
and
see
what
the
impact
is.
But
that's
what
we
wanted
to
share
with
you
tonight.
A
There's
a
lot
of
information,
and
I
think,
we'll
all
probably
all
look
over
this
again
and
maybe
have
some
questions
later
on
david.
I
want
to
add
a
question
about
the
water
and
sewer
fund.
I
think
in
scenario
one.
We
had
a
scenario
where
34
million
of
projects
was
funded
by
cash
balance
is
that
is
that
what
we're
sitting
at
is
a
cash
balance
in
that
fund.
Currently.
C
No,
your
cash
balance
is
less
than
that.
That
is,
I
would
use
the
slash
here
so
either
cash
balance
or
ongoing
revenues,
and
so
you
would
generate
you
all
generate.
You
know
monies
in
excess
of
your
expenses
on
an
annual
basis,
and
so
I
would
call
that
just
ongoing
revenue
system
revenues
are
paying.
Those
are
paid,
paygo
projects,
not
all
cash
balance.
At
one
point:
it's
on
an
ongoing
basis
over
a
five-year
period.
C
That's
correct,
you
know,
while
there
are
certain
revenue
streams
at
the
city's
disposal
that
are
more
fungible,
that
you
can
apply
to
different
projects,
franchisee
being
one
of
those
you
all
can
designate
how
you
fund
that
water
and
sewer
you
know
has
to
go
to
water
and
sewer
projects.
Storm
water
has
to
go
to
storm
water.
You
know
it
can
cover
certain
expenditures
and
allocable
share
of
certain
expenditures
and
other
funds.
But
you
know
hospitality.
You've
got
a
designated
list
of
projects
that
that
can
go
for
so
yeah.
A
B
B
B
2019,
but
that-
and
that
is
with
a
20
cut,
so
we
did
want
to
have
council
consider
a
budget
adjustment
to
allow
some
things
to
that.
We
did
not
fund
as
part
of
our
budget
process
last
spring
to
for
council's
consideration.
We
did
share
during
this
budget
season
last
year
that
we
would
take
a
look
at
revenues
about
halfway
through
and
and
potentially
make
some
suggestions.
B
The
three,
the
two,
the
three
big
area
or
the
three
areas
where
we're
recommending
some
additional
funds
are
in
parks,
recreation
and
tourism,
grounds
out
of
public
services
and
then
adding
some
money
in
for
the
legacy
tree
program.
So
I
did.
I
do
have
lex
and
jessica
here
as
well
for
any
additional
comments,
but
essentially
what
we're
looking
at
is
we're
taking
this
of
the
surplus.
B
B
B
As
you
know,
we
began
taking
our
recycling
to
north
augusta
in
august
from
for
about
10
years,
we
were
fortunate
that
we
did
not
have
to
pay
to
take
recycling
or
excuse
me.
Do
I
have
to
pay
for
someone
to
take
our
recycling
now
we
are
spending
about
four
thousand
seven
hundred
dollars
a
month
to
do
that.
B
D
I
was
just
looking
at
this
and
I
I
agree
with
you
know
what
you
have
listed
here
and
how
it
should
be
done
and
I'm
making
sure
that
I'm
understanding
where
it's
all
going.
We
have
the
amenities
and
security
camera
system
for
the
new
pool,
which
I
think
we
really
need
to
have
and
when
we
broke
that
down,
we
have
like
2500.
B
D
B
B
B
F
G
H
H
B
H
E
E
I
E
I
Before
you
were
to
go
into
the
woodlawn,
where
our
cross
country
trail
is,
there's
some
watch
out
there,
as
well
as
to
the
right
side
of
the
property
and
so
there's
various
places
throughout
the
park.
So
we
feel
if
we
can
get
some
fertilization
and
better
turf
management
there.
It
will
certainly
help
to
to
worse
to
keep
that
property
from
worsening
over
time
who's.