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<br />February 24, 2009
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<br />Overall expenditures were $803,413 less than anticipated through the end of January. Two funds deviated from their
<br />anticipated budgets. The Water Fund expended slightly more than anticipated by $7,852, and the Sewer Fund expended $555,255
<br />than anticipated. The Sewer Funds expenditures include the continuing capital project for the sludge press upgrade. With an
<br />anticipated budget amendment on the next consent agenda, this figure will come into alignment. Continuing efforts by all
<br />departments to be conservative in their purchasing practices is reflected in the lower than anticipated expenditures.
<br />The overall fund balance decreased by $1,175,755 through the end of January when compared to the beginning of the fiscal
<br />year, bringing our total combined fund balances to $14,541,313. This decrease is approximately 7% of Fiscal Year 2008's total fund
<br />balances of $15,717,069. A majority of the decrease can be attributed to current cash flow with semi-annual debt service being paid
<br />in January, and reimbursements yet to be received from state and federal programs. Of our current long-term obligations, 7 out of 10
<br />are due in January, which impacts our cash flow negatively. This decrease should "'level out" over the course of the next few months
<br />with continued diligence and monitoring of our expenditures, and the anticipated business license and real estate taxes to be received
<br />in the coming months.
<br />Mr. Monday pointed out that departments are doing a good job watching
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<br />their budgets and so far there have not been any budget adjustments. It was
<br />pointed out that sales tax revenue for December 08 was 3.55% higher than
<br />December 07.
<br />Council reviewed the 2008-2010 Goals document with the additions from
<br />their February 18,2009 and February 24, 2009 discussions. On a motion by
<br />Gene Teague, seconded by Danny Turner, and with a 5-0 vote, the final document
<br />was adopted by Council (COpy attached to minutes).
<br />For information purposes, City Attorney Eric Monday read the following
<br />Disclosure of Personal Interest signed tonight by Council Member Mark Stroud:
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