HomeMy Public PortalAbout20130528 finance minutesCITY OF JEFFERSON
Finance Committee Meeting
Tuesday, May 28, 2013
MINUTES
The meeting was called to order by the Finance Committee Chairman, Councilman Shawn Schulte at 7:30 AM.
Roll call showed that Councilmen Schulte, Graham, Prather and Scrivner were in attendance. Councilman Bray
was not present at roll call but joined the meeting at 7:35 AM.
The minutes of the April 24, 2013 meeting were reviewed and a motion to approve was made by Councilman
Prather and seconded by Councilman Graham. The minutes were approved unanimously.
The next item on the agenda was a report by Interim Finance Director, Bill Betts, covering the sales tax revenue
for May. Mr. Betts also discussed the new format of the sales tax report and the inclusion of reporting period
information. Further discussion indicated that the Committee would like further modifications so that the report
corresponds with our fiscal year. Mr. Betts agreed that staff would provide a mock-up of the requested changes
at the next Finance Committee meeting.
The next item on the agenda was a report by Mr. Betts covering the monthly Budget Report. Mr. Betts
explained that the report was generated after entries were made to account for vacancy savings. He also
indicated clean-up of accounts would be done in June.
The next item on the agenda was a Fund Balance Report by Mr. Betts.
The next item on the agenda was a presentation by Mr. Betts on New Grant Procedures. Councilman Scrivner
made a motion to move the accompanying bill to Council once all department directors had seen the procedures
and had the opportunity to offer input. Councilman Prather seconded the motion. The motion passed 4-1 with
Councilman Bray voting nay.
The next item on the agenda was a discussion of the budget calendar led by Mr. Betts. Two options were
presented and Councilman Scrivner made a motion to adopt the option that included a one day meeting for all
department presentations. Councilman Graham seconded the motion. The motion passed unanimously.
The next item on the agenda was a short report by the Chief Accountant, Shiela Pearre, covering the Lodging
Tax receipts to date. Lodging tax collected in April was $97,213. The total collected during the timeframe
where the rate has been 7% is $1,970,354.
The next item on the agenda was further discussion of the need for an Economic Development Policy led by
City Counselor, Drew Hilpert. Councilman Schulte informed the Committee that he had asked Mr. Hilpert
about the possibility of needing to add GO Bonds and Industrial Revenue Bonds to the Policy as well. There
was also discussion about involving the Chamber in the process of drafting all Economic Development Policies.
It was decided that further discussion will be necessary at the next meeting.
The next item on the agenda was New Business. Councilman Schulte brought up the fact that he thinks the City
Administrator should make a presentation at the first council meeting after we receive sales tax funds. Mr. Betts
said he would discuss this with the City Administrator.
There was no old business discussed.
A motion to adjourn was made by Councilman Graham and seconded by Councilman Scrivner. Adjournment
took place at 8:38 AM.
As recorded by:
Shiela Pearre, Chief Accountant