HomeMy Public PortalAbout20110512 finance minutesCITY OF JEFFERSON
Finance Committee Meeting
Thursday, May 12, 2011
MINUTES
The meeting was called to order by the Finance Committee Chairman, Councilman Rich Koon at 8:10
AM. Councilmen Koon, Bray, and Weber were in attendance. Councilman Pope and Councilwoman
Carroll were absent.
The next item on the agenda was a review of the Committee Meeting minutes from March 18, 2011. A
motion to approve was made by Councilman Weber, seconded by Councilman Koon. The minutes
were approved unanimously.
The next item on the agenda was a review of the April Sales Tax Report. The Finance Director briefly
went over the report.
The next item on the agenda was an overview of the process and procedures to be followed during the
upcoming FY 2012 budget process. Budget Committee Chairman Councilman Koon explained some
of the procedures that he recommends be followed during the budget meetings. Some questions and
discussion ensued.
The next item on the agenda was a brief presentation by the Finance Director on the financial condition
of the Transit operation. There were operating losses for Fiscal Years 2009 and 2010 and Steve
Schlueter requested that a supplemental appropriation be presented to the Council to pay off the losses
from these two years from the General Fund Fund Balance. Discussion and questions ensued. Mr.
Schlueter presented three factors that led to these operating losses. A motion to move the Finance
Director’s recommendation to the full Council was made by Councilman Bray, seconded by
Councilman Weber. The motion was approved unanimously.
There was no New or Old Business to be discussed.
A motion to adjourn was made by Councilman Weber, seconded by Councilman Bray. Adjournment
took place at 8:50 AM.