Agenda Packets - 2005/02/14 - Laserfiche WebLink

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Mounds View City Council January 24, 2005 Regular Meeting Page 20 2. City Administrator’s Report. 1 2 City Administrator Ulrich stated that the consultant who had helped with the retreat last year 3 said that March 7 and 8 in the evening would work well for him. He stated that that is normally 4 a work session date fo r the Council. He stated they would pencil that in, and then check with the 5 availability of the new Council member on those dates. 6 7 City Administrator Ulrich stated that there was a draft survey in the Council’s mailboxes. He 8 stated that the questions or iginally had numbered 104, and they had cut those down to 50. He 9 stated that if anyone felt an important question had been missed, to let them know. He stated 10 that this will be discussed at the February 7th wor k session. 11 12 3. Finance Director’ s Quarterl y Report. 13 14 Finance Director Hanson stated that this is the quarterly report for the fourth quarter of 2004, 15 and it is the first look at the year end numbers, which are preliminary numbers. He stated that 16 there are still a lot of transactions to record and a lot of invoices have yet to come in, so there 17 are many expenses and revenues to report. He stated that he was projecting that they would 18 have a balance between revenue and expenses, and if anything, a small surplus of $100,000-19 $200,000. He stated that the State Auditor has taken to criticizing cities that have a fund balance 20 that equals more than 50 percent of the next year’s budget, so he suggested when they get close 21 to the final numbers, look at canceling a few of the transfers from other funds into the General 22 Fund to avoid having the balance in the General Fund go up. 23 24 Finance Director Hanson stated that the TIF Districts have had a good year in terms of revenues 25 versus expenses. He stated that District No. 1 will probably still have a deficit at the end of 26 2004, but it will be a very small one, and that the other two Districts have a surplus. He stated 27 that it was interesting to note that M.S.A. Construction Fund, which had been running a cash 28 deficit since he has been here, should finally break into the positive field. He stated that they 29 were able to finance the special assessments from the County Road H2 project with bonds they 30 had sold last summer, and that injected about $200,000 into the M.S.A. Construction Fund. 31 He stated that the Utility Fund looked to be in pretty good shape for the year. 32 33 Finance Director Hanson stated that the Bridges Golf Course had about a two and a half percent 34 increase in its operating revenues over the prior year. He stated it had received the initial 35 payment for the billboards, which added $62,000 to its revenue. He stated they would still be 36 looking at a deficit for the year of something like $150,000, but it would be a month or two 37 before he could report the number with total confidence. 38 39 Council Member Stigney asked if that $150,000 was over and above the $62,000 received for 40 the billboards. 41 42 Finance Director Hanson stated that that was after recording the $62,000 from the billboards. 43 44 Finance Director Hanson stated that the Finance Department was largely working on preparing 45 the budget for 2005 during the fourth quarter. He stated that they had received an upgrading in 46