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Director Paereferred to budget worksheetsthat she provided. She explained that in 2019 the <br />City’s budgeted streets projectsexceeded the projected revenues in the SCMR fund for the first <br />time. Because of this, $500,000 in streets projects were budgeted in the General Fund <br />Engineering line item.With the new increases coming into the SCMR fund, the $500,000 in <br />projects will be reclassified under SCMR at the end of the year. <br />She recommended that Council wait until 2021 to reevaluate the SCMR fund and if it should be <br />used to pay for additional streets projects. She noted that there are a lot of exciting possibilities <br />and that this is great news. <br />She clarified that the legislation in Columbus that provided the increase did not change the <br />definition of the SCMR fund. <br />The Committee discussed that gas tax revenue is elastic and changes basedon gas prices, the <br />economy and new technologies such as electric vehicles. <br />The Committee briefly spoke about future ideas for using the increaseandleveraging itto <br />accomplish City transportation goals. <br />Finance Committee adjourned at 7:29 p.m. <br />2 <br /> <br /> <br />