08-04-08 Personnel & Finance - Laserfiche WebLink

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Personnel and Finance Committee Meeting Minutes of August 4, 2008 Page 2 stated that by next Wednesday she hopes to have summaries, charts and graphs prepared on the 2009 budget for the Council. 2009 Proposed Budget for County Option Income Tax, Fund # 303: Expenditure by Cost Center $4,103,975 Expenditure by Classification $4,103,975 Funding Sources Total $5,950,000 Revenue over expenditures for 2009 $1,846,025 The City Controller noted that the majority of the COIT proposed expenditures are for debt. She then highlighted the detail in the budget summary (copy attached) See footnote # 5 which sets for the 2009 capital lease payments for the Leighton Plaza Lease -Transpo; Public Works Center; Police/Fire renovation; Main Street/Colfax Garage Lease -Transpo; Anchor Project; Frederickson Park; Stamping Plant Lease -Transpo; Frederickson Park - 2"d loan; and payment of agent fees. Ms. Fanello then highlighted footnote # 2 addressing various grants and subsideies (Weed & Seed Grant Matches, NNRO; and capital expenditures of $500,000 for the vacant housing initiative. She then highlighted the information in footnote # 6 which is the proposed 2009 "Spending Plan" which would shift $987,177 currently funded in the General Fund to be funded by COIT. These would include COIT funding for the Studebaker Management contract, Weights & Measures, the contractual agreement for the Code Enforcement Hearing Officer, Code Substandard demolitions, Community & Economic Development operating expenses, and the South Bend Museum of Art. In response to a question from Council Member LaFountain, Ms. Fanello staed that the commitment to fund these items required them to be shifted to a different funding source. Dr. Varner stated that he hoped that costs for police, fire and public works in the various TIF Districts would be looked into so that those costs could be funded. Ms. Fanello stated that she would look into that recommendation further. She also noted that in footnote # 1 the year should be corrected to read "2009". There was no one from the public to speak in favor or in opposition to this fund. 2009 Proposed Budget for Cumulative Capital Improvement, Fund # 407: Expenditure by Cost Center $594,000 Expenditure by Classification $594,000 Funding Sources Total $544,925 Revenue (under) expenditures for 2009 ($49,075)