12 City Council (09/09/03) - Laserfiche WebLink

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Regular City Council Meeting September 9 , 2003 Page 10 it at this time. Mayor Fendley announced that the City Council would take a short break at 6:10 P.M. Mayor Fendley reconvened the meeting at 6:20 P. M. Mayor Fendley stated that they have actually changed the budget by $400,000.00 on the revenue side and on the expense side, the General Fund has been reduced by $289,656.00 and the Water and Sewer Fund has been reduced by $559,600.00. Councilman Bell advised that they have another $100,000.00 to get the revenue adjusted in line with the expenditures. Mayor Fendley said either that, or they may have a surplus at the end of the year and they can transfer that surplus over and operate out of that. Mr. Anderson came forward, advising that they made a proj ection where they thought they would end up and it is an estimate. He said that what the Mayor stated was one possibility. Councilman Bell stated his concern in moving that $400,000.00 was to try and get the Water Department back in line as quickly as possible with an idea of not having another rate increase. Mayor Fendley advised that the annual audit will be completed around the first of the year and they can adjust the budget in the last three months of the fiscal year. Resolution No. 2003-156, setting a public hearing for September 23, 2003, at 6:00 P.M., on the proposed amendments to the City Manager's proposed budget for fiscal year 2003-2004, was presented. A motion was made by Councilman Bell, seconded by Mayor Pro Tem McCarthy, for approval of the resolution. The motion carried 7 ayes, 0 nays. The City Council also set the 18t' day of September, 2003, for a Special City Council meeting for Karl Louis, Police Chief, to present his report on work by the day.