HomeMy WebLinkAboutBudget Minutes - May 1, 2002CITY OF CENTRAL POINT
2002/2003 BUDGET COMMITTEE MEETING MINUTES
May 1, 2002
I. INTRODUCTION OF MEMBERS
Members present were:
Council members Citizen Members City Staff
Mayor Bill Walton LeRoy Burkhart Brian Almquist, Interim City Administrator
Dave Gilmour Jim DeKorte Bill Brugger, Finance Director
Dick Halley AI Myers Lois De Benedetti, Building Official
Kay Harrison Mike Quilty Tom Humphrey, Planning Director
Donna Higginbotham Rick Rapp Bob Pierce, Public Works Director
Bill Stults Opal Heierle Mike Sweeny, Police Chief
Hank Williams Deanna Gregory, Deputy Recorder
Dennis Richardson was absent
II. APPROVAL OF MINUTES
A. Approval of April 24, 2002, Budget Committee Minutes
Mike Quilty made a motion to approve the minutes of the April 24, 2002, Budget
Committee Minutes as presented. Opal Heierle seconded. All said aye. Motion
approved.
III. PRESENTATION OF BUDGET
A. Debt Service Funds
1. Reservoir Debt Fund
Finance Director Bill Brugger explained that basic purpose of this fund provides for
payment on the two loans for the construction of the Old Stage Road water
reservoir. One of the loans were retired during 2001-2002. the debt service on the
remaining loan will be paid from the Water Reservoir SDC Fund.
Rick Rapp made a motion to approve the Reservoir Debt Fund as presented. Dick
Halley seconded. All said aye. Motion approved.
2. Bancroft Bond Redemption Fund
Mr. Brugger stated that all bond issues were repaid in FY 1996-97. The balance of
the net working capital and assessment payments received in FY 2001-02 will be
transferred to the General Fund.
City of Central Point
Budget Committee Minutes
May t , 2002
Page 2
Dick Halley made a motion to approve the Bancroft Bond Redemption Fund as
presented. Donna Higginbotham seconded. All said aye. Motion approved.
3. Water Line Debt Fund
Mr. Brugger explained that this Debt Fund provides for payments on a loan from the
Oregon Economic and Community Development Department for the construction
of the Erickson Air-Crane water line.
Donna Higginbotham made a motion to approve the Water Line Debt Fund as
presented. Dave Gilmour seconded. All said aye. Motion approved.
B. Capital Acquisition Funds
1. Land Acquisition & Building Fund
Public Works Director Bob Pierce explained that the basic purpose is to accumulate
funds for the acquisition, construction, remodeling and expansion of City facilities,
and to provide for maintenance and operation costs for city rental properties. He
explained the capital outlay projects for 2002-2003.
Donna Higginbotham made a motion to approve the Land Acquisition & Building
Fund for a total requirements of $415,744. Mike Quilty seconded. All said aye. Motion
approved.
2. Equipment Acquisition Fund
Mr. Brugger explained the capital outlay and basic purpose of this fund is for
addition and replacement of computers, copy machines, and other equipment and
furnishing that benefit general city operations.
Dick Halley made a motion to approve the EquipmentAcquisition Fund as presented.
Kay Harrison seconded. All said aye. Motion approved.
C. Other Funds
1. Telephone Excise Tax Fund
Mr. Brugger explained that this is a pass through fund required by the state of
Oregon for the City's share of the Enhanced 911 Program.
Jim DeKorte made a motion to approve the Telephone Excise Tax Fund as
presented. Rick Rapp seconded. All said aye. Motion approved.
City of Central Point
Budget Committee Minutes
May t , 2002
Page 3
2. Equipment & Facilities Rental Fund
Mr. Pierce explained the significant change to this fund was to add the Facilities
rental to the Equipment Rental for purposes of billing each department accurately
for the use of both equipment and facilities. He explained the capital outlay for Total
Requirements of $494,337.
Mike Quilty made a motion to approve the Equipment & Facilities Rental Fund as
presented. David Gilmour seconded. All said aye. Motion approved.
3. Rehabilitation and Development Fund
Mr. Brugger explained the purpose for this fund is to provide a source of revenue
for housing rehabilitation projects in the community. Program revenue generated
by lien payments from the wood stove replacement program my be used for these
purposes. The city will begin a Housing Rehabilitation Loan Program this fiscal year
to help low income families make energy efficient improves to their homes.
Rick Rapp made a motion to approve the Rehabilitation and Development Fund as
presented. Mike Quilty seconded. All said aye. Motion approved.
4. Water Reservoir Replacement Fund
Opal Heierle made a motion to approve the Water Reservoir Replacement Fund as
presented. Kay Harrison seconded. All said aye. Motion approved.
V. FINAL BUDGET COMMITTEE APPROVAL
Dick Halley made a motion to approve the City of Central Point Proposed Budget for
Fiscal Year July 1, 2002 through June 30, 2003. AI Myers seconded. All said aye.
Motion approved.
VI. ADJOURNMENT
Mike Quilty made a motion to adjourn. AI Myers seconded. All said aye. The meeting
was adjourned at 7:58 p.m.
Dated ~(~
Deanna Gregory, d Secretary