City Council Meeting

Kyle Luxfund balance and really the reserves of the city matter a lot to the rating agencies. As we think about the capital program, we know we're going to be making some very large investments in fire stations, in Willard-Sherwood, likely in schools as well. So we're going to be borrowing dollars to do that. And one of the best ways from a financial perspective to counterbalance that is to make sure we've got really, really strong and growing fund balances. and so that's something the city mayor and council with your leadership you've done an excellent job of about the last decade of growing those reserves over that time period and what they have said here is they're recognizing that and they see that growth they also

balance of those federal ARPA funds we've got a balance of funding mechanisms to take care of those capital needs over that time period. Very bottom of the page, the single biggest projects as we see it in terms of the CIP, Willard Sherwood and the fire station. And so as those continue to get designed and bid and built, what we're really trying to do is time these financings in such a way as we have the dollars show up as we need them, but not taking too many dollars at one time knowing that we want to ease the debt service impact on the budget over a couple of years. Page 14, this just shows the existing and proposed new debt service. So a couple different colors in that chart. Dark green at the bottom is the existing outstanding debt.