Laserfiche WebLink
496 <br /> <br /> The motion directing the City Manager to present a budget reflecting a real estate <br />tax reduction equal to the increase in revenue as a result of the change of the value <br />method for personal property taxes was approved by the following vote. Ayes: Dr. <br />Brown, Mr. Lynch, Mr. Schilling. Noes: Mr. Caravati. Abstaining: Ms. Hamilton. <br /> <br />APPROPRIATION: YEAR END ADJUSTMENTS <br /> <br /> Mr. O'Connell said that the books must be closed out by December 31st. He said <br />the year ended in a surplus of $3.2 million after the 12% fund balance target due to <br />increased revenues and some expenditures being under budget. He said also included are <br />supplemental and carryover appropriations. He said the second reading of the <br />appropriation is scheduled for December 13th. <br /> <br /> Mr. Lynch said he would like to get a copy of the additional revenues as we think <br />about next year's budget. He said he expects there will be a slight reduction this year in <br />jail costs. <br /> <br /> Mr. O'Connell said he thinks there will be an increase in the jail budget of some <br />significance. <br /> <br /> Mr. Lynch said he would like to get the year end adjustments in November next <br />year rather than December. <br /> <br /> Mr. Aubrey Watts, CFO, CO0, said they will try to do that, but it involves a huge <br />amount of work. <br /> <br />Mr. Lynch said this is a fairly significant amount to deal with off budget. <br /> <br /> Ms. Hamilton asked how hard it would be to do the appropriation in a slightly <br />different format, something closer to a balance sheet. <br /> <br /> Mr. Schilling concurred with Mr. Lynch that we need to see this as early as <br />possible. He said he has many questions about the supplemental appropriations and sees <br />it as a circumvention of the budget process. He said he has little understanding of what <br />things are. He said there are probably better uses for a lot of this money. <br /> <br /> Mr. Caravati said he does not agree with City Market funds going to special <br />events, and said he would rather see it go to relocation of the Market. <br /> <br />Mr. Watts said we are required by law and need to carryover the funds. <br /> <br /> Mr. Caravati said he objects to the way it is described. He said he is fairly aware <br />of most of the items. Regarding the Ivy Landfill contribution, he said he objects that this <br />item still lingers. <br /> <br /> Regarding the fund balance transfer for health care benefits, Mr. Lynch said he <br />would like to flag this as an area of continuing concern. <br /> <br /> Mr. Watts said the City is trying to start FY 06 in the black regarding health care. <br />He said the City had some incredible claims last year. <br /> <br /> Responding to a question from Mr. Lynch about the $800,000 transfer to <br />equipment replacement last year, Mr. Watts said the goal is to get back to stable levels of <br />funding for fire department equipment. <br /> <br /> On motion by Mr. Lynch, seconded by Mr. Caravati, the three Year End <br />Adjustment Appropriations were offered and carried over to the December 13th meeting <br />for consideration. <br /> <br />PUBLIC <br /> <br />There were no matters by the public. <br /> <br /> <br />