Laserfiche WebLink
123 <br /> <br /> particular property due to some problems. He said that he and <br /> Mr. Bray had gone out to the property and he felt it needed <br /> looking at, but it may work out the way they had originally <br /> planned. Mr. Amis said that the Committee will follow through <br /> on this matter and report back to the Board. <br /> <br />-- Mr. Cecil stated that the Annual Meeting is to be held in <br /> June. He said he felt the reason the Annual Meeting was in <br /> June was in order to approve the Budget, and the Program of <br /> Work to give the City Council sufficient time between June and <br /> the year end to consider those items in their budget. He said <br /> the Board needed to develop some items for approval at the June <br /> meeting which would then go to the City Council for final <br /> approval. He said one of those items is the Annual Plan of <br /> Work. He advised that Mr. Vest devgloped this item for <br /> 1994/1995, and asked Mr. Vest to update this Program for <br /> 1995/1996. Mr. Vest said he would have this information ready <br /> to be voted on at the June meeting. <br /> <br /> Mr. Cecil said in connection with the Budget he felt the Annual <br /> Plan of Work and the overall economic development plan for <br /> 1995/1996 were the same. After discussion, this was the <br /> consensus of the Board. <br /> <br /> Mr. Cecil stated he had spoken with Mr. Anderson, the Finance <br /> Director, regarding the Annual Budget. He said Mr. Anderson <br /> had agreed to work on the Annual Budget and have it available <br /> at the June meeting for approval or amendment. Mr. Cecil said <br /> that the budget would then be approved by the Council sometime <br /> between June and September when it is incorporated into the <br /> City's total budget. Mr. Anderson advised that he would review <br /> any projects that the Board had approved for inclusion in the <br /> budget. <br /> <br /> Mr. Vest suggested in preparing an annual budget that you look <br /> at supplies, office supplies, contractual costs, travel and the <br /> type things associated with the Board doing business. He <br /> suggested that we identify these line items and place remaining <br /> revenue into a project fund, using those funds for projects as <br /> they develop, such as the B & W Sewer Line and those types of <br /> things. Mr. Vest also stated that the revenue remaining at the <br /> year end would be rolled into the project fund for the year. <br /> Mr. Cecil asked Mr. Vest and Mr. Anderson to get together on <br /> this item as well. <br /> <br /> Mr. Vest stated that the Board operates as a corporation under <br /> the rule of the City Council and the Board's project fund is <br /> money that this Board has the authority to expend for projects <br /> as the Board sees fit. Mr. Vest said that if the Board borrows <br /> money they will have to go to the City Council for approval, <br /> but he thinks once they approve a budget and the Board has a <br /> project fund, then the Board has the authority to spend this <br /> fund for incentives, projects, etc. He said any time the board <br /> exceeds that amount then it will have to go to the Council. <br /> After discussion, this was the consensus of the boardmembers. <br /> <br /> City Manager Malone advised that it was appropriate for the <br /> Board and the Council to work closely with the other entities, <br /> and if we are all of one mind everything will proceed <br /> satisfactorily. President Cecil asked Mr. Vest. and Mr. <br /> Anderson to work together as to how the budget should be <br /> formulated and bring the budget back to the board at the next <br /> meeting. <br /> <br /> <br />