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2011-02-07 Study Session - Budget
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2011-02-07 Study Session - Budget
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3/2/2011 4:08:32 PM
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Council Meeting
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Minutes - Date
2/7/2011
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STUDY
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Ms. Watson explained several things occurred over the year that are of a one- <br />time occurrence and have brought down the operating deficit. She confirmed <br />that the City does have the $1,000,000 in reserves to use for the flood. <br /> <br />Mr. Glickert asked for clarification that the Council voted the $350,000 for the fire <br />pumper. <br /> <br />Mayor Welsch said that $350,000 was set aside help pay for a new pumper. <br /> <br />Mr. Glickert asked when will the Council voted on purchasing the fire truck or was <br />it already voted on. <br /> <br />Mayor Welsch said the Council should have a formal vote because there are <br />many months of sales tax yet to be received and there could be a variance to <br />these projections. She suggested that Council waits and makes that decision <br />later in the year. The City could hold that for the purchase of the next fire <br />pumper. <br /> <br /> Mr. Glickert said he asked because when this happened, the fire pumper <br />seemed to be a big emergency three years ago. And wanted to know if had been <br />ordered yet? <br />Ms. Watson said the specifications have been finalized and the City is now <br />issuing the bid. <br /> <br /> <br />Next Ms. Watson referred to a couple of asterisks which were one-time revenue <br />sources: the T-Mobile settlement for $650,000, of which $150,000 would be <br />ongoing yearly revenue. Ms. Watson also explained a one-time revenue <br />received from Charter Communication for money they failed to send to the City <br />for the government channel for five years, for $42,000. Ms. Watson noted <br />another increase was with what Washington University reimbursed the City <br />$42,000 for police support due to the issues experienced in the Loop. She also <br />noted that the City will receive higher revenues from the utilities because of the <br />extreme weather experienced this year. <br /> <br />Mr. Price asked how much did the City have in reserves <br /> <br />Ms. Watson stated the City has close to $10,000,000. <br /> <br />Mr. Price asked what was the percent compared to the budget. <br /> <br />Ms. Watson said the City is over 30 percent. <br /> <br />Mr. Price asked what are we required to have in reserve? <br /> <br />Ms. Watson said we are not required to have anything; the City Council had <br />chosen a goal of 17% several years ago. <br /> <br />Mr. Price asked Ms. Watson what percentage did Webster Groves have. <br /> <br />2 <br /> <br /> <br />
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