03/20/2006-CC-Minutes-Work SessionMINUTES: CITY COUNCIL WORKSHOP
MARCH 20, 2006
PRESENT: Mayor Joe Higgs, Councilman Glenn Ervin, Councilman Robert Patton,
Councilman Mike Lawler, Councilman Mike Walker
ABSENT: Councilman Mike James
OTHERS
PRESENT: City Manager Jack Smith, City Secretary/Assistant City Manager Rose Chavez,
Police Chief Curtis Amyx, Vehicle Maintenance Kristian Lindberg, Liz
Springer, John Springer, Joe Falls, Andy Garza, Kathy Floyd, C.G. McNeill,
Paul Edelman, Johnny Ray Looper, Rod Zielke, Bill Spore
1. Mayor Joe Higgs called meeting to order.
2. Presentation of Fiscal Year Audit for 2004-2005.
Bill Spore, City Auditor addressed Council regarding the audit. He discussed capital
outlay in the General Fund.
In revenues the property taxes were $100,000.00 over budget.
Discussed revenues that were over budget including, taxes received, and grants that
had been received.
Total revenues were higher than original budget amount.
Discussed projects paid for by the economic development boards.
Discussed transfers from the utility fund.
Discussed budgeted expenses compared to actual expenses.
Discussed budget for each department.
Total expenditures were $800,000 over budget, but almost $600,000 of that was in the
street department and was for capital improvements which were paid for by bond
funds. The City had budgeted to break even, but with over budgeted revenues and
expenditures the total deficit came to $538,000, but was covered by the bond funds.
Discussed budgets for the 4A and 4B boards. The expenditures for both boards were
under budget.
Discussed total revenues and expenditures in the General fund compared with the
revenues from the previous year.
Discussed Enterprise Fund revenues and expenditures. Mr. Spore advised this fund
is treated as a business. There was a comparison to the prior year.
Discussed operating expenses and depreciation.
Discussed interest income and tap fees.
The Enterprise Fund had a total profit of $61790009 but the tap fees were $711,000.00.
Without the tap fees they would not have had a profit.
Discussed capital assets, depreciation expenses, and loan proceeds.
If the General Fund had been treated like a business, total profit would have been
$491,000.
Discussed property tax revenue.
Discussed special revenue funds.
Mr. Spore went over the balance sheet.
Discussed total assets for the city are 21 million dollars, and the total liabilities are
$99433,000.000
Discussed total revenues and expenses of the two funds added together.
Discussed cash on hand as of September 30"', and the schedule of cash accounts.
Mr. Spore proposed the following amendments:
Amend the capital outlay budget by $630,000.
Amend property taxes by $12,000.
Amend Hotel/Motel tax by $8200.00.
3. Meeting Adjourned