HomeMy WebLinkAboutBudget/Finance Committee Minutes 06.13.2000 MINUTES
BUDGET/FINANCE COMMITTEE
JUNE 13, 2000 7:00 P.M.
DPW OFFICE
MEMBERS PRESENT:
Chairman Bud Johnson
Mark Mace
Gay Easton
Ken Olson
OTHERS PRESENT:
Mary Embleton
The committee met to review the General Fund preliminary budget for 2000-2001. Tax
revenues are estimated to be approximately $470,000, which Mary feels is very conservative.
She told the committee that the taxable valuation figures will be sent out next month, and then
the tax revenue figures will be adjusted. The non-tax revenues do not include the
administrative charges from the enterprise funds, nor the transfers from the insurance funds,
which could total $530,000. Lengthy discussion followed regarding direct costs to enterprise
and insurance funds versus administrative charges and transfers. Mary will prepare an
alternate budget using the same procedures as last year for administrative charges and
insurance. Total resources were $2,425,000 and appropriations were $2,681,000. If cash
reserves were set at 30% of appropriations ($804,000), then this would create a shortfall of
$1,060,000. The committee will review the appropriations and second round meetings with
department heads will be scheduled soon.
Mary reported that the premium renewals from New West arrived today. The company did
not even quote the current plan, but quoted increases of 58% higher under their next two
(lesser coverage) plans. Mary said that the insurance committee needs to meet, but that new
council members needed to be appointed since Miles Walton, Norm Orr and Dirk Kroll no
longer serve on the council. Acting Mayor Gay Easton then named Bud Johnson, Ken Olson,
and Mark Mace as council representatives for the insurance committee, which will meet on
Thursday, June 15th at 7:00 p.m.
The Montana League of Cities and Towns asked Mary if the city was going to sign the
agreement to join the energy-purchasing group. ARer discussion, Ken Olson volunteered to
contact the League to get more information tomorrow and discuss this issue at Wednesday
night's meeting.
The next Budget/Finance budget workshop will be on Wednesday, June 14th, at 7:00 p.m.
Meeting adjourned at 8:50 p.m.
Respectfully submitted.
Mary K. Effnbleton
City Clerk-Treasurer