HomeMy WebLinkAboutBudget Minutes - May 9, 2001CITY OF CENTRAL POINT
2001/2002 BUDGET COMMITTEE MEETING MINUTES
May 9, 2001
I. INTRODUCTION OF MEMBERS
Members present were:
Council Members
Citizen Members
Ci Staff
Mayor Bill Walton
Dave Gilmour
Dick Halley
Kay Harrison
Dennis Richardson
Bill Stults
II. APPROVAL OF MINUTES
LeRoy Burkhart
Jim DeKorte
AI Myers
Mike Quilty
Marciel Tomich
Hank Williams
Jim Bennett, City Administrator
Bill Brugger, Finance Director
Bob Pierce, Public Works Director
Mike Sweeny, Police Chief
A. Approval of May 5, 2001, Budget Committee Minutes.
Mike Quilty made a motion to approve the minutes as presented. Jim DeKorte
seconded. Dave Gilmour abstained from the vote. All said aye. Motion passed
unanimously.
III. PRESENTATION OF BUDGET
A. Debt Service Funds
1. Reservoir Debt Fund: This fund will be retired during the new fiscal
year. This fund will not be used in the future unless additional debt is
acquired for the construction of a new reservoir.
Dick Halley made a motion to approve the Reservoir Debt Fund as presented.
Bill Stults seconded. All said aye. Motion passed unanimously.
2. Bancroft Bond Redemption Fund: 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.
Jim DeKorte made a motion to approve the Bancroft Bond Redemption Fund
as presented. Mike Quilty seconded. All said aye. Motion passed
unanimously.
3. Water Line Debt Fund: This fund provides for payments on a loan from
the Oregon Economic and Community Development Departmentforthe
construction of the Erickson Air-Crane water line. No recommended
changes.
Mike Quilty made a motion to approve the Water Line Debt Fund as presented.
AI Myers seconded. All said aye. Motion passed unanimously.
B. Capital Acquisition Funds
1. Land Acquisition & Building Fund: This fund is for the acquisition,
construction, remodeling and expansion of City facilities, and to
provide for maintenance and operation costs for city rental properties.
There are no significant changes.
Bill Stults made a motion to approve the Land Acquisition & Building Fund as
presented for Total Requirements of $244,220. Dave Gilmour seconded. All
said aye. Motion passed unanimously.
2. Equipment Acquisition Fund: This fund provides for the addition and
replacement of computers, copy machines, and other equipment and
furnishings that benefit general city operations. No significant
changes.
Dick Halley made a motion to approve the Equipment Acquisition Fund
Budget as presented for Total Requirements of $80,000. Mike Quilty
seconded. All said aye. Motion passed unanimously.
C. Other Funds
1. Telephone Excise Tax Fund: This fund pays for the City's share of the
Enhanced 911 Program.
Dennis Richardson made a motion to approve the Telephone Excise Tax
Fund budget as presented. AI Myers seconded. All said aye. Motion passed
unanimously.
2. Public Works Equipment Rental Fund: This is an internal service fund
that charges other departments for the use of City equipment and uses
the revenue to maintain, repair and replace that equipmennt and the
public works yard and shop facilities. Bob Pierce presented the
proposed capital outlay for the coming year.
Bill Stults made a motion to approve the Public Works Equipment Rental
Fund budget as presented for Total Requirements of $481,439. pick Halley
seconded. All said aye. Motion passed unanimously,
3. Rehabilitation and Development Fund: This fund accounts for revenue
received from the repayment of loans from the Woodstove Replacement
Program. These funds may be reused for eligible activities under the
Community Development Block Program.
Jim DeKorte made a motion to approve the Rehabilitation and Development
Fund budget as presented for Total Requirements of $61,783. Dick Halley
seconded. All said aye. Motion passed unanimously.
4. Water Reservoir Replacement Fund: This is a sinking fund that will
eventually be used to replace the Old Stage Road water reservoir.
Mike Quilty made a motion to approve the Water Reservoir Replacement Fund
budget as presented. Bill Stults seconded. All said aye. Motion passed
unanimously.
V. COMMENTS AND QUESTIONS FROM THE COMMITTEE
Budget Officer Jim Bennett explained that this concludes the Budget Meetings for
the 2001/2002 budget year. A final motion is needed to approve the overall budget
for 200112002.
Vi. FINAL BUDGET COMMITTEE APPROVAL
Bill Stults made a motion to approve the City of Central Point Proposed Budget for
Fiscal Year July 1, 2001 through June 30, 2002. Mike Quilty seconded. All said aye.
Motion passed unanimously.
V. ADJOURNMENT
Mayor Walton made a motion to adjourn. Bill Stults seconded. All said aye. Motion
passed unanimously. The meeting was adjourned at 8:04 p.m^
Dated ~ 1 ~ ~l
Deanna Gregory, Bud t S etary