City Council Announcements
January 11, 2000
A. Decisions, Feedback & Information needed by staff
1. PROPERTY CONVEYANCE:
i) Mountain Dell Golf Course- Attached is information regarding a lease agreement for Telecommunications/ Other Transmission Facilities. The lease is for a fiber optic conduit across Public Utilities watershed property and the Mountain Dell Golf Course (Parley’s Canyon). Williams Communications, Inc. (Lessee) will install 16 conduits prior to the spring run off. Each conduit will carry three to four fiber optic carriers which will meet the anticipated needs for the next 20 years. Currently there are three companies negotiating for capacity. The different companies will buy the conduits from the Lessee and each company will enter into a separate lease agreement with the City. This should minimize future construction/excavation on the watershed. Salt Lake City Golf, Public Utilities and the Watershed Department have been closely involved in the approval of the design. Does the Council wish to hold a hearing?
A: No
2. METHODS OF CONTACT: During the Council retreat of January ’99, Council members discussed and agreed to give two choices for staff to use to contact Council Members in urgent situations. Attached is the information Council Members gave staff at that time. Please let Missy know of additions and /or changes that need to be made.
A: Information was given to Missy.
3. FISCAL YEAR 1998-99 COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): Attached is the Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 1999. Please let Anne or Gary know if you have any questions about this report. These financial statements were audited by PricewaterhouseCoopers. Scott Nixon, with PricewaterhouseCoopers, will attend a Council work session within a few weeks to present the management letter and to answer questions that you may have of him regarding the financial report. Council staff reviewed the CAFR and found that expenditures were within the Council’s appropriations for all departments and funds with the exception of a $60 overage in the Downtown Economic Development special revenue fund. Available fund balance as of June 30, 1999 is about $1.5 million, which is about 1% of General Fund revenue as shown below.
|
Available Fund Balance A. General Fund June 30, 1999 | |
|
Total General Fund balance – June 30, 1999 |
$20,399,000 |
|
Less: Outstanding contracts and purchase orders |
(3,231,000) |
|
Less: Restricted assets (Salt Lake Area Gang Project) |
(42,000) |
|
Less: Appropriations in the 1999-2000 budget |
(254,000) |
|
Less: Advance to Intermodal Hub Enterprise Fund |
(4,007,000) |
|
Less: Remaining advance amount reserved for Intermodal Hub |
(4,403,000) |
|
Less: Required by state law for emergencies (5% of revenue) |
(6,978,000 |
|
Available fund balance (1% of revenue))
|
$ 1,484,000
|
4. EXECUTIVE COMPENSATION ORDINANCE- SEVERANGE PACKAGES: Several questions have been asked by Council Members relating to the City’s Executive Compensation ordinance. What approach would the Council like to take in addressing Council Member inquiries?
A: A discussion was held in both the Work Session and during the formal Council Meeting. A subcommittee was created to sort through the issues. The Members are Tom Rogan, Roger Thompson, and Dave Buhler/ Council staff support- Gary Mumford
B. Council Office Policies
C. For Your Information
1. CITY HOLIDAY (reminder): On Monday, January 17 the City Council Office will be closed in honor of Martin Luther King, Jr. / Human Rights Day.
D. Meetings