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Regular City Council Meeting <br />July 8, 2004 <br />Page 12 <br />Councilman Bell asked if they could look at that and ask Mr. Anderson to run <br />some explanation on some of the bigger numbers. Mr. Anderson said that if <br />Councilman Bell had some specific line items, he could work that as he has <br />time and get back to him sometime during the budget process. <br />Mayor Fendley advised that the council will be getting rough revenue numbers <br />later in the month. Mr. Anderson advised that the property tax numbers will <br />not be ready until almost to the end of July. <br />Councilman Wilson asked Mr. Anderson, right now, between the expenditures <br />and the revenues, what is the net difference. Mr. Anderson said is about 1.5 <br />million and that is the most conservative revenue estimate that he could do <br />assuming that they had the worst case scenario on the issue on the franchise <br />that has been discussed. Also, he stated that he did his best estimate on what <br />the property tax number would be using historical traditional gains and <br />appraisals, then adjusting for the number that the city has to pay back to <br />Campbell Soup. <br />Councilman Wilson wanted to know what the franchise questionable number <br />would be. Mr. Anderson said he thought that it would be approximately <br />$375,000.00, so that would bring it down to a 1.2 million deficit. Mr. <br />Anderson advised that the number for Essence real property is included in <br />that figure, but the personal property is not included because he does not have <br />any figures for that. <br />Councilman Wilson asked Mr. Anderson if the pay back to Campbell Soup is <br />$400,000.00 and is that taken out of the city's revenue and is it netted out. <br />Mr. Anderson advised that it is netted out in the number that he has placed in <br />there. <br />Council Wilson said that with the city's revenues being flat for the last few <br />years, and with the deficit proj ection on this budget, he would like for the city <br />staff to go back and take last year's budget (2003-04 General Fund Budget) <br />and cut that by 5% across the board and bring the City Council back how they <br />