05/22/1995 Council Packet - Laserfiche WebLink

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COUNCIL MEETING MARCH 13, 1995 Resolution No. 95 - 28 can be found at the end of these minutes. Consideration of Resolution No. 95 - 29 Authorizing the Transfer of Funds from the Closed Bond Fund to the Escrow Fund - Mr. Schumacher explained that three (3) older projects, that staff contributed some time to, have been completed or diverted to other areas. The negative cash balances in the three (3) escrow accounts (Apollo Business Center - $56.95, Reshanau Escrow - $636.70 and Pond View - $854.42) should be determined uncollectible and a transfer made to the accounts to delete the deficit balances. Council Member Elliott moved to adopt Resolution No. 95 - 29. Council Member Bergeson seconded the motion. Motion carried unanimously. Resolution No. 95 - 29 can be found at the end of these minutes. OLD BUSINESS Consideration of 1995 Budget Document - Mr. Schumacher has sent to the City Council their 1995 Annual Budget. He said he wanted to bring the document itself to City Council attention. He noted that it takes months of work by the staff and City Council to prepare an annual budget and the final document has been prepared. Mr. Schumacher noted that it is a working document and is used all year long. He encouraged the residents to come in and review the document or purchase it for a small fee. He highlighted several areas of the budget including, the 1995 Sewer and Water Department Budget, Local Government Aid revenues from 1988 to 1995, Permit Valuations for the years of 1988 to 1994, personnel and what department they work for, detail of General Fund revenues and expenditures. Mayor Reinert referred to a request from the State to increase the state sales tax from 6% to 6.5%. The municipalities were asked to support the increase and the entire amount of the increase was promised to be returned to the municipalities to make up for the loss in local government aid. To date the municipalities have not received any support from the increased sales tax. Mr. Schumacher said this event helped to diminish the level of trust between the municipalities and the state. Mr. Schumacher continued with his report noting significant changes in the Police Department, the Community Development Department as well as other departments. Mr. Schumacher explained that certificates of indebtedness are used to purchase equipment each year. He noted that the City has a very limited amount of debt` and the bond consultant will be asking PAGE 10