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<br />SESSION 1569 <br /> <br />MINUl'ES OF '!HE UNIVERSI'IY CITY a::xJNCIL <br /> <br />May 11, 1992 <br /> <br />At a special budget study meeting of the city Council of university City held <br />in the Emergency Operations Center on Momay, May 11, 1992, Mayor Janet Ma- <br />jenIS presided am called the meeting to order at 7:02 p.m. In addition to <br />the Mayor, the following nembers of the Council were present: <br /> <br />Mr. Byron R. Price* <br />Mr. JCJSeIil L. Adams, Jr. <br />Mr. RobertG.Wagner <br />Mrs. Mary V. Sch1.nnan <br />Mr. Paul E. Schoaner <br />Mrs. Betty L. '!hClTpSOIl* <br /> <br />Mr. Price arrived at 7:43 p.m., arrl Mrs. ~n arrived at 7:25 p.m. <br /> <br />Also present were City Manager Frank Ollernorff arrl Finance Director Willie <br />Norfleet (who arrived at 7: 10 p.m.). <br /> <br />'!he public was invited to atterrl the meeting as abseJ:vers. '!he 1992-93 City <br />budget was the only subject discussed. <br /> <br />REVENUE <br /> <br />'!he City Manager started with a brief review of two memos sent to Council <br />last year which showed staff positions that were cut arrl items that he rec0m- <br />mended restoring if funjs were available. He said the total budget this year <br />is about the same as last-$14. 8 million. On page A-3 urrler Property Tax <br />Rate, he noted the General F\m:i rate for 1992-93 is $0.74, whereas last year <br />it was $0.68. '!he total tax rate is $1. 07 . He said a recent SUpreme Court <br />ruling IlCM allows a rate increase for growth. He pointed out that the Police <br />arrl Fire Retirement F\m:i needs just urrler $0.03 to stay actuarily sourrl, but <br />four or five cents would be m:>re canfortable. Also, that furrl is considering <br />a change in its invesbnent policy, putting sanewhat m:>re errphasis on return <br />am slightly less on preservation of capital. Mr. Adams said they will also <br />be hiring a borrl manager. Mr. Ollernorff asked Council to think about this <br />rate am decide by June what they feel it should be. <br /> <br />Mr. Norfleet arrived at this ti1ne. <br /> <br />General Prooertv Taxes (paqe B-7). Mr. Ollernorff said the projections in- <br />clude adding $0.06 (both real arrl personal property) . 610.17 Payment in Lieu <br />of Taxes will increase slightly as winco pays m:>re due to its expansion. <br /> <br />Licenses (paqe B-7). Mr. Ollernorff said there were no changes in this cate- <br />gory, with about the same aroc>UI1ts expected to be collected as this year. <br /> <br />Olarqes for citv Services (paqes B-7 arrl B-8). '!he City Manager said there <br />were a few increases here due to recycling-640 .07 Yard Waste am 640.08 Wood <br />arrl Leaf Mulch. Revenue for 640.10 Golf Course shows a projected increase of <br />