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Session 1810 <br /> <br />MINUTES OF THE UNIVERSITY CITY COUNCIL <br /> <br />May 14, 2001 <br /> <br />At a special budget meeting of the City Council of University City held in the E.O.C. <br />room of City Hall on Monday, May 14, 2001, Mayor Joseph L. Adams called the <br />meeting to order at 7:00 p.m. In addition to the Mayor, the following members of the <br />Council were present: <br /> <br />Ms. Cassandra Colquitt <br />Mr. Wayne Munkel <br />Mr. Robert Wagner <br />Mr. Larry Lieberman <br />Mr. Paul Schoomer <br />Mr. Arthur Sharpe, Jr. <br /> <br />Also present was City Manager Frank Ollendortf, Assistant City Manager Julie Szymula <br />and Finance Director Willie Norfleet. <br /> <br />REVENUES - PAGE B-7: <br /> <br />Mr. OIlendorff pointed out that there were few changes this year. We have a 24 million <br />dollar budget. We will be using one million dollars in reserves this coming year. We <br />started this year with six million in reserve and after this year, we will be down to a little <br />less than $5 million in reserves. We need to keep at least 3.6 million dollars in reserve. <br />Mr. Ollendorff said that new revenue sources needed to be identified for the next year. <br />30% of our revenues come from sales taxes, 20% comes from utilities tax, 10% refuse <br />collection, 10% property taxes, the other 30% is from miscellaneous sources. Mr. <br />Norfleet had identified three types of sales taxes that could be brought to the voters. <br />These were parks and stormwater, general sales tax and fire and related functions. <br />Property tax can be increased 30¢ without a vote. The people have already authorized <br />this amount in property taxes which we have never levied. This increase would give us <br />a million dollars. Anything above this would have to go back to the voters. This budget <br />does not include the bond issue capital improvements for renovating the pool and <br />enhancement of the rec facility. The question that the Council has to decide is whether <br />to go to the voters for both a small tax increase and a bond issue. Mr. Ollendorff <br />suggests going for a tax increase first and then go for the bond issue at another time or <br />possibly at the same election, otherwise if it is done the other way around, the voters <br />might not approve the tax increase. <br /> <br />Directing Council to B-7, Mr. Ollendorff noted the small increase in property taxes was <br />due to new construction. The utility taxes vary depending on the weather. Mr. <br />Ollendorff asked if the Council was still interested in giving away any of the gas money <br /> <br /> <br />