City of Metropolis Finance Committee met Aug. 2.
Here is the minutes provided by the Committee:
Roll Call:
Barfield Present
Canada Absent
Hall Present
Short Present
Moved by Alderman Mike Hall and Second by Alderman Charles Barfield to approve the minutes of the previous meeting held on 5-4-2017;
Motion Carried:
Barfield Yea
Canada Absent
Hall Yea
Short Yea
CFO Trisha Suttles present the annual budget to review. The Committee will evaluate, accept or make cuts where necessary. She explained the funds we use are broken into categories. The Governmental Funds are used to account for the general activities and operations. We refer to this as our General Fund. The Special Revenue Funds are Emergency Services, Business District Sales Tax, Hotel/Motel Tax, our Police Funds such as DUI, Offender Registration, Evidence and Drug Trafficking, all 5 TIF’S and our Street Department. Proprietary Funds are our Enterprise Fund. We operate the Airport, Garbage, Light, Sewer and Water Funds. Fiduciary Funds are our Policeman and Firemen’s Pension Funds. The Debt Service Funds are Bond Funds. After going over the funds Trisha informed them of the other areas in the budget. We have a debt for the Sewer Separation Project and the note is made payable to the EPA. The Library is another component we are financially responsible for. The gaming revenue is down from the highest point and we have funds that depend on that money; the General Fund makes up the difference. We keep a reserve for our out of pockets expenses such as floods, tornados and ice storms to name a few that we as a city had to endure. The budget is appropriated monies that we prepared and pledge what we think we will need. She went over the rest of the material the Committee were given before we adjourned. The next Finance meeting we will begin the Worksheet Budgeted Projects she noted.
Moved by Alderman Charles Barfield and Second by Alderman Mike Hall to adjourn; TIME 1:46
Motion Carried
Barfield Yea
Canada Absent
Hall Yea
Short Yea
http://www.cityofmetropolis.com/minutes/finance.asp
Alerts Sign-up