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Minutes for the special called City Council meeting on December 28, 2005
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SPECIAL CALLED MEETING-WEDNESDAY, DECEMBER 28, 2005, 5:30 P.M.
The Jonesboro City Council met Wednesday, December 28, 2005, for a special called meeting. Members present were: Mayor Douglas Formon, City Clerk, Donna K. Jackson, City Attorney Phillip Crego and ten council members. Those members were: Farmer, Province, Hargis, Williams, Perrin, Street, Dover, Furr, McCall and Ashley. Councilmen Moore and Johnson were unable to attend. Councilman Farmer left at 6:25 p.m. and Councilwoman Furr left at 6:43 p.m.
At the request of Councilman Perrin, Mr. Larry Flowers provided an executive summary of the 2006 budget showing a total of the Revenues, Expenditures and Estimated Emergency Reserves. Discussion was held regarding fixed assets and the figure shown in the budget. It was explained that the budget shows 2.9 in fixed assets, but if bids are taken on a lease/purchase agreement and are higher than expected, it would be better to purchase the equipment causing fixed assets to increase by approximately 6.3 million. It was further explained that the City of Jonesboro is replacing worn out equipment, and even though some equipment would be purchased every year, the 2006 budget focus has been on adequately equipping the Fire, Police, Animal Control, and Sanitation Departments. Next year the focus will be on the Street Department equipment with only 30% being addressed in the 2006 budget. Mr. Flowers explained if the City chooses to lease the equipment rather than purchase, then next year the amount for fixed assets will increase. Councilman Hargis asked what the amount of the 2005 reserves. Councilman Farmer responded saying the total amount of Reserves at the beginning of 2005 was $35,000,000,000. He pointed out the decrease in the Reserves from 2005 to 2006 was due to being led to believe there were MATA funds available, when in reality they were not, and as a result MATA had to be a...
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