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<br /> <br /> <br />MINUTES OF UNIVERSITY CITY COUNCIL <br />STUDY SESSION <br />FEBRUARY 26, 2007 <br /> <br />The Council Study Session, held in the Chambers of the City Hall, on Monday, February 26, <br />2007, was called to order by Mayor Adams at 5:30 p.m. In addition to Mayor Adams, the <br />following members of the Council were present: <br /> Mr. Robert Wagner <br /> Mr. Arthur Sharpe, Jr. <br /> Ms. Stefany Brot <br /> Mr. Michael Glickert <br /> Mr. Byron Price <br /> <br />Ms. Lynn Ricci arrived at 6:00 p.m. Also present was the City Manager, Ms. Julie Feier and <br />Deputy City Manager/Finance Director, Ms. Janet Watson <br /> <br />The Study Session agenda was planned to discuss the General Fund, July 2006 to January <br />2007. <br /> <br />The first six months of Fiscal Year 2007 were discussed. The General Fund balance is <br />determined by the Revenues and Expenditures. <br /> <br />Total Revenue in comparison to same period in 2006, resulted in a negative figure of -3.9, <br />with negative figures in Licenses, Sales and Use Tax, Grants and Miscellaneous. <br /> <br />In comparison to the same period a year ago, expenditures in Legislative, HR, Administrative, <br />Parks and Recreation, Grant Funds and Debt were down. <br /> <br />The total expenditures for the first six months of fiscal year 2007 were up 0.8%. <br /> <br />Ms. Watson was asked if the City should be concerned and she said that everything look <br />close to expectation. <br /> <br />Sales tax collected was down from a year ago but did not mean that people were not <br />shopping in University City. The City is in a pool with other municipalities which are then <br />divided out in proportions appropriated. <br /> <br />Ms. Watson said that funding from grants was down because it depended on the cycle as to <br />when money would be received from the grants awarded. <br /> <br />Another area that varies from one reporting period to the next is utilities and the season of the <br />year. Taxes received from utilities are slow to be received after they are paid. <br /> <br />It was also noted that the storms in 2006 – 2007 total cost were $250,000 of which the City <br />was reimbursed $212,000. FEMA paid 75%, SEMA paid 10% and the City paid the <br />remaining 15% <br /> <br />The meeting was adjourned at 6:20 p.m. <br /> <br />Joyce Pumm <br />City Clerk <br /> <br />