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Minutes for the Finance Committee meeting on January 27, 2005.
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Finance & Administration Committee Minutes
Thursday, January 27, 2005
4:00 p.m. - Huntington Building
Members Present: Alec Farmer, Darrel Dover, Jim Hargis, Harold Perrin, and John Street. Councilwoman Williams was unable to attend. Others present were: Mayor Formon, Donna Jackson, City Clerk, Phillip Crego, City Attorney, staff and media.
MINUTES
Councilman Perrin moved seconded by Councilman Dover for the adoption of the minutes for December 16, 2004 and for a budget meeting December 31, 2004 as provided. All voted aye. Copies were made available to all in attendance.
SELECTION OF COMMITTEE CHAIR & SUBCOMMITTEE CHAIRS
Councilman Street moved, seconded by Councilman Hargis to appoint Councilman Farmer as the overall chair of the Finance & Administration Committee. All voted aye.
Councilman Dover moved, seconded by Councilman Perrin to appoint the following council members to the following subcommittees:
Finance & Audit Alec Farmer
Purchasing & Property Insurance John Street
Pensions & Employee Insurance Darrel Dover
Legal & Records Ann Williams
Personnel & Info Systems Harold Perrin
Grants & Industry Jim Hargis
All voted aye.
ORDINANCES & RESOLUTIONS
2005 Budget Amendments: It was explained the “Clean Up” ordinance on the February 1, 2005 City Council agenda will show an increase in Capital Improvements and a decrease in Operations & Maintenance; with an unprojected deficit for 2004 due to unexpected expenditures. It was explained that in the 2005 budget there were sales tax transfers to the Street Fund and E911 Fund which are restricted funds, and once money is placed in those accounts the money must stay with those accounts. The decision was made to amend the budget to not put the sales tax transfers into the Street Fund and reduce the E911 fund. This would provide $400,000 for Operations & Maintenance which would off set the deficit. Mr. Flowers...
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