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`~ Personnel and Finance Committee <br />2007 South Bend Common Council <br />The November 26, 2007 meeting of the Personnel and Finance Committee of the South Bend <br />Common Council was called to order by its Chairperson, Council Member Charlotte D. Pfeifer <br />at 3:03 p.m. in the Council's Informal Meeting Room. <br />Persons in attendance included Council Members Kelly, Varner, Kirsits, Pfeifer, Kuspa, <br />Rouse, and Puzzello; City Clerk John Voorde, Public Works Director Gary Gilot, Martha <br />Lewis, Mrs. Kopola, City Attorney Charles Leone, Police Chief Thomas Fautz, Pam Burnette, <br />James Masters, Interim City Controller John Murphy, Jamie Loo of the South Bend Tribune <br />and Kathleen Cekanski-Farrand, Council Attorney. <br />Council Member Pfeifer noted that the Committee Members include Council Members <br />Varner, Kuspa, Kirsits, and herself as Chairperson; and that the Citizen Member of the <br />Committee is Diana Hess. <br />Substitute Bill No. 78-07: Transferring Monies Among Various Accounts: <br />Substitute Bill No. 79-07: Increasing and Decreasing Various Appropriations: <br />Council Member Pfeifer called upon Interim City Controller John Murphy for the presentations <br />on the two (2) substitute bills. <br />Mr. Murphy. requested that both substitute bills be continued until the Council meeting of <br />December 10, 2007, noting that Substitute Bill No. 79-07 will have to be re-advertised in light <br />of changes affected three (3) departments. <br />Dr. Varner made a motion, seconded by Council Member Kirsits that Substitute Bill Nos. 78- <br />07 and 79-07 be recommended to be continued to December 10, 2007 at the request of the <br />Petitioner. The motion passed. <br />Miscellaneous Business: <br />Mr. Murphy then presented two (2) handouts to the committee. He briefly highlighted the first <br />2-page handout summarizing financial information from 2005 through 10/31/07. He noted <br />that the total revenue through 10/31/07 was $20,658,236. He added that auto excise tax and <br />commercial vehicle tax is usually received semi-annually, however this year it will only be <br />received in December. Expenditures are 72.75% of the budget. <br />Mr. Murphy also highlighted the 2-page summary of "Interest Earnings", noting that the good <br />news is that $5,472,079 has been earned as of 11-15-07. <br />Major Moves monies has earned $695,124 in interest as of 11-15-07. Mr. Murphy also noted <br />that the checking account is also now earning interest. <br />