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<br /> <br />MINUTES OF UNIVERSITY CITY COUNCIL <br />STUDY SESSION <br />January 28, 2008 <br /> <br /> <br />The Council Study Session, held in the Chambers of the City Hall, on Monday, January 28, <br />2008, 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. Arthur Sharpe, Jr. <br /> Mr. Michael Glickert <br /> Mr. Robert Wagner <br /> Ms. Stefany Brot <br /> Ms. Lynn Ricci <br /> Mr. Byron Price <br />Also present were City Manager Julie Feier, the Director of Finance Janet Watson, and the <br />City Attorney John Mulligan. <br /> <br />The Study Session agenda was for the purpose of discussion of the mid-year financial <br />status of the General Fund, the financial results of the cell phone settlements and the <br />budget amendment and transfers. <br /> <br />The Financial Director Janet Watson presented the Fiscal Year 08 (FY 08) Revenue and <br />Expenditure Report covering July 2008 through December 2008; <br />REVENUE <br />? <br /> Property Tax collection was what was anticipated; <br />? <br /> Sales & Use Tax was better than expected; <br />? <br /> Intergovernmental would be reducing the City’s motor vehicle sales tax because the <br />County had determined that they were not collecting all they were allowed, for <br />administering this collection. St. Louis County is attempting to collect back <br />administrative fees also; <br />? <br /> Miscellaneous revenue is down due to slower collection fees received and the lack of a <br />refund from the insurance consortium University City is a part of, due to higher claims of <br />all participants. <br />EXPENDITURE <br />? <br /> Down in Legislative, HR and Administrative departments <br />? <br /> Down in Public Works, Parks & Recreation, and Grant Funds (partially due to timing of <br />when Grant money is received) <br /> <br /> <br />Cell Phone Tax Settlements’ addition to Revenue was the next agenda item to be <br />discussed. <br />University City received $2,032,211 in back tax settlements from Verizon, US Cellular, <br />AT&T and Sprint/Nextel. The projected revenue that will now be received for the <br />remainder of 2008 will be $573,520 per month. University City will receive $982,632 in <br />total from cell phone taxes for the Fiscal Year of 2009. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />