HomeMy WebLinkAboutBudget/Finance Committee Minutes 04.27.19920
BUDGET FINANCE COMMITTEE
Date April 27, 1992 Time 6.30 p.m.
Place of Meeting City Hall
OTHER'S PRESENT:
MEMBERS PRESENT: Chairman-Donna Kilpatrick
Bob Gauthier Don Hackmann
Norman Orr Chuck Rodgers
Ron Marshall Bob Graham
L.D. Collins
Vicki Metzger
•
The Committee reviewed the following 1992-93 preliminary
budgets:
A quorum (3 or more) present, the following action was taken by
the Committee:
General Fund Revenue
City Treasurer
SIDS
Mayor
Council
Light District # 2 & #3
Firemen's Relief
FAP & Storm Sewer Bonds
PERS, Comprehensive Insurance, Policemen's
Health Insurance, Employee Health Insurance
Due to increased electrical costs and a decrease in cash
reserves, the Committee recommended that the assessment for
Light District #2 (residential) be increased from $18,692 to
$23,365. Cost of electricity is estimated to be $23,232.
Without an assessment increase the cash would have a deficit
balance on 11-30-93 of approximately $3,700. The increase
will average around $5.00 per residence in Light District #2.
No increase is recommended for Light District #3.
Discussed the mill levy for the Firemen's Relief Association.
It is recommended that the levy remain at 2 mills for the 1992-93
fiscal year.
The levy for the FAP G.O. bonds will remain at 3 mills. It
appears that the levy will remain the same for 1993 & 1994.
The FAP bonds will be paid off in June 1995!!
)W *e
Page 2
Budget/Finance Committee meeting of April 27, 1992
•
The levy for the Storm Sewer G.O. bonds will remain at
14 mills. It is projected that the levy will remain the same
through 1998. The Storm Sewer bonds will be paid off in June
1999!!
1991 taxable valuation $5,174,826 ($5,175)-.
1992 taxable valuation won't be available until sometime in
July or early August.
It appears that the 1992-93 mill levies will be the same as
last year, as follows:
General all purpose 65
PERS 7
Comprehensive Insurance 10
Policemen's Health Insurance 2
Employee Health Insurance 11
Airport Authority 2
Firemen's Relief 2
FAP Bonds & interest 3
Storm Sewer Bonds & Interest 14
116
The meeting was adjourned at 8:35 p.m.
Respectfully submitted,
Don Hackmann
City Clerk
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