02 Council Minutes July 8, 2004 - Laserfiche WebLink

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Regular City Council Meeting July 8, 2004 Page 11 Resolution No. 2004-116, authorizing the execution of Deeds of Abandonment to the adj acent property owners of a 120 foot wide street right-of-way, being a portion of 13th Street S. W. abandoned by Ordinance No. 2004-018 from the north right-of-way line of Loop 286 S. W. going north approximately 1,713,1 feet to and including a cul-de-sac; making other findings and provisions related to the subject; and providing an effective dated, was presented. A motion was made by Councilman Bell, seconded by Mayor Pro Tem Guest, for approval of the resolution. The motion carried 7 ayes, 0 nays. Mayor Fendley advised that the next item on the agenda was discussion and consideration of possible direction to city staff for the proposed 2004-2005 City Budget. City Attorney Schenk said he had the first working draft of a calendar for adopting the budget and what they will do is fill in some of the blanks on it. Councilman Bell said he was still having problems, as he did last year, of looking at an audit and this budget and numbers that do not match. He said that he realizes that it was done under the GASBY. Gene Anderson, Director of Finance, said the problem in trying to reconcile those two is the audit is done on a full accrual basis and the budget is a cash basis document. So, they are never going to be the same. He said you could do a reconciliation on it, but he did not feel you would gain anything by doing that because when you do an accrual, you are backing out some cash flow numbers that occurred in your fiscal year, but belong in the year before. There was just a delay in collection or expenditure and then you are estimating some revenues and expenses that occurred in the last month of the fiscal year but were not actually paid or received until the following fiscal month. He said the differences in those reconciliations is the primarily reason for a difference in a cash budget and the audited numbers. Mr. Anderson stated that there are always going to be some differences there and he does not know any city that budgets on a full accrual basis.