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12-29-08 Common Council Mintues
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12-29-08 Common Council Mintues
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City Council - City Clerk
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SPECIAL MEETING DECEMBER 29, 2008 <br /> <br /> <br /> <br />of $53 million. This could result in approximately receiving #3 million dollars less than <br />expected in the General Fund. <br /> <br />We have received only $10 million dollars of property tax revenue in the general fund <br />from the voluntary payments requested by the County. A receivable in the General Fund <br />for property taxes of approximately $43 million will exist at the end of 12/31/08. The <br />general fund is currently $10 million overdrawn; zero dollars to spend or appropriate. <br />That is why we are here today to borrow funds from ourselves, once again saving <br />taxpayers interest. <br /> <br />All other funds mentioned by the governor existed is various funds not available for <br />general spending. For example, Local Roads and Streets, Major Moves, various TIF <br />funds, EDIT, COIT, Rainy Day Fund, MVH, Local Road & Street, Human Rights <br />Federal Funds, Law Enforcement Continuing Education, Studebaker Federal and State <br />Grants. Most of these are restricted to specific uses and many have cash reserve policies <br />as well. No surpluses existed in these funds. <br /> <br />Councilmember’s White, Henry Davis, Dieter, Kirsits and Rouse thanked Ms. Fanello for <br />the clarification. They noted that transparency in government is vital for State, County <br />and City governments to exist. <br /> <br />ANNOUNCEMENT OF NEXT MEETING DATE <br /> <br />Council President Timothy Rouse announced that the Organizational Meeting of the <br />Common Council will take place on Monday, January 5, 2009 at 7:30 p.m. in the Council <br />th <br />Chambers, 4 Floor County-City Building, 227 W. Jefferson Blvd., South Bend, Indiana. <br /> <br /> <br />ADJOURNMENT <br /> <br />There being no further business to come before the President Timothy Rouse adjourned <br />the meeting at 12:40 p.m. <br /> <br />ATTEST: ATTEST: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />____________________________ ____________________________ <br />John Voorde, City Clerk Timothy Rouse, President <br /> 7 <br />
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