08-17-04 Personnel & Finance - Laserfiche WebLink

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eomrnitfg cREI2c rt of tI E$lonnd and 9inanaz eommitt of tI cSoutI . End eommon C?ounei� 2003, and to date there have been two(2)seriously ill employees this year. There are six(6) funds which are not balanced; and there are three(3)funds which do not have adequate fund balances(Central Services,Parking Garage Fund and Park Department Fund for Special Events). Mr. 011ett stated that risks include the unpredictability of property tax,noting that an additional tax anticipation warrant will be requested of the Common Council later this year.$64,000 were paid in costs for the 2003 tax warrants. EDIT and COIT are anticipated to be 15%less or approximately$1.1 million. Pensions have guaranteed payments and PERF has increased the required funding from 3 1/4%to 4 1/4%. In the next 12-18 months City Plan should be completed. Facts. figures, programs and services will be highlighted over the next few weeks. In response to a question from Dr. Varner,Mr. 011ett stated that there will be$680,000 in gaming revenue anticipated which is found in the general fund. Pension costs are a"net dollar cost to the city". Mayor Luecke stated that pension relief of 50%is guaranteed through 2007, and currently the city is required to fund two(2)different pension programs. He noted that Speaker B. Patrick Bauer has appointed him to a Local Government Efficiency Commission"which will address such topics as consolidation. Indiana state tax is 49th of 50, with local government rates being closer to the United States average. The Mayor noted that there is alot of detail and that the City Administration looks forward to the upcoming sessions. Council Member Kirsits inquired about the hydrant tax. Mayor Luecke stated it is not a revenue and would show up in the water budget with$ 1.2 to $1.3 million being addressed. (See Tab 620) Council Member Dieter noted that Mr. Andres has a conflict with the current date set for his cost center, and therefore noted the following NEW TIME AND DA'Z'E when the Personnel and Finance Committee will hear the following presentation: Morris Performing Arts Center& Palais Royale September 7,2004,5:30 p.m. Following discussion and other potential conflicts,the following NEW TIMES AND DA'Z'ES were established,with all others as listed in the August 10th meeting notice remaining the same: Code Enforcement September 8,2004,5:30 p.m. thereby canceling the committee meeting on September 2nd. Personnel and Finance Committee Meeting of August 17,2004 Page 3