HomeMy Public PortalAbout20130424 finance minutesCITY OF JEFFERSON
Finance Committee Meeting
Wednesday, April 24, 2013
MINUTES
The meeting was called to order by the Finance Committee Chairman, Councilman Shawn Schulte at 7:29 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 8:00 AM.
The minutes of the March 26, 2013 meeting were reviewed and a motion to approve was made by Councilman
Bray and seconded by Councilman Prather. The minutes were approved unanimously.
The next item was a discussion about the potential need for an Economic Development Policy led by City
Counselor, Drew Hilpert and taken out of order on the agenda. Mr. Hilpert gave some background on the types
of Economic Development that could arise within the City of Jefferson and asked the Committee how they
would like to proceed in an effort to create a General Econcomic Development Policy. The Committee decided
to pass initial questions through the Finance Committee and then proceed with a Council work session.
The next item on the agenda was a report by Interim Finance Director, Bill Betts, covering the sales tax revenue
for April.
The next item on the agenda was a report by Mr. Betts covering the monthly Budget Report. Mr. Betts
explained the format of the report and the information the report contains.
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 March was $84,199. The total collected during the timeframe
where the rate has been 7% is $1,873,141.
The next item on the agenda was a resolution presented by Ms. Pearre to terminate the Water Enterpise Fund
and transfer all assets to the General Fund. A motion was made by Councilman Scrivner and seconded by
Councilman Bray to move the resolution to full Council. The motion passed unanimously.
The next item on the agenda was a resolution presented by Ms. Pearre to terminate the Capital Projects – Streets
& Public Facilities Fund and transfer all assets into Sales Tax F “Contingency” category. A motion was made
by Councilman Scrivner and seconded by Councilman Graham to move the resolution to full Council. The
motion passed unanimously.
The next item on the agenda was a resolution presented by Ms. Pearre to terminate the Sales Tax B and Sales
Tax C Funds and transfer all assets to Sales Tax F, with $283,495.10 going to the “Riverfront Projects”
category and the remainder going to the “Contingency” category. Councilman Scriver requested that the
resolution be amended to state that all other projects in Sales Tax B and Sales Tax C were completed as
promised and that the funds going to the “Contingency” category were a result of interest earned. A motion was
made by Councilman Scrivner and seconded by Councilman Prather to move the resolution to full Council as
amended. The motion passed unanimously.
The next item on the agenda was New Business. Councilman Schulte announced that the Finance Committee
typically meets the 4th Tuesday of each month, as this was the first Committee meeting for several members.
There was no old business discussed.
Adjournment took place at 9:10 AM.
As recorded by:
Shiela Pearre, Chief Accountant