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COMMON COUNCIL INFORMAL MEETING <br /> Saturday, May 14, 2005 10:00 a.m. <br /> Page 2 <br /> Mayor Luecke explained the State 3 years ago allowed cities to collect fees, which now <br /> provide $1.3 million dollars per year in South Bend. The first two years these dollars <br /> were spent on streets. They are now dedicated to the Public Safety sector. The Mayor <br /> explained the City's desire to maintain a 15% reserve in the budget to allow emergencies, <br /> to cover late tax distributions and to merit good bond ratings. The Mayor explained the <br /> differences between Capital and Operating budgets. Revenues of$169 <br /> Million were described by fund type and expenditures of$155 million by type with the <br /> $14 million margin set aside for capital expenditures. Limits on future revenues were <br /> outlined by the Mayor referring to future state imposed limits on the levy. <br /> Councilmember Varner emphasized the value of looking for efficiencies in government <br /> before imposing new taxes. Mayor Luecke agreed and urged all attendees to suggest <br /> opportunities for efficiencies emphasizing the need for all have to think creatively <br /> especially in light of shrinking revenue growth rates and increasing health care costs <br /> borne by the City. <br /> Adjourned at 11:20 a.m. <br /> Res. ct ully Submitte. <br /> `. r,• <br /> Jo V! orde <br /> City Clerk <br />