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HomeMy WebLinkAbout14 0123 Council minutesThe City Council met on January 23, 2014, at the Plainview Convention Center, 2902 W. 4th Street, Plainview, Texas. The agenda for this meeting was posted in City Hall at 11:25 a.m. on January 20, 2014. Mayor Wendell Dunlap presided. Councilmembers present were: Charles Starnes - District 1, Cathy Waggoner- District 2, V. O. Ortega - District 4, Susan Blackerby- District 5, and Lionel Garcia - District 6. Councilmembers David Garcia - District 3 and Eric Hastey- District 7 were absent. Staff members present were: Greg Ingham -City Manager, Sarianne Beversdorf- Director of Finance, Jeffrey Snyder- Assistant City Manager, Isauro Gutierrez - Information Technology Specialist, Rusty Powers -Fire Chief, Leslie Pearce -City Attorney, Mike Gilliland- Director of Public Works, William Mull- Police Chief and Belinda Hinojosa -City Secretary. News Media Present: Ryan Crowe, Plainview Herald and Caleb Hatch, Plainview Radio Councilmember Lionel Garcia led in the Invocation. Sarianne Beversdorf, Director of Finance presented the Quarterly Investment Report for the period from October 1, 2013 through December 31, 2013. The beginning book balance for demand deposits was $19,643,290 and the ending book balance was $20,581,121. Interest earned was $9,296. The beginning book balance for portfolio summary — operating funds was $20,618,888 and the ending book balance was $20,632,753. Interest earned was $9,876. Ms. Beversdorf presented a breakdown of investments by funds. Councilmember Starnes arrived at 11:45 a.m. Mayor Dunlap asked for public comment. There was no public comment. Mayor Pro Tem Waggoner moved to accept the Quarterly Investment Report for the period from October 1, 2013 through December 31, 2013. The motion was duly seconded by Councilmember Ortega and carried by a vote of five "for" the motion and one abstention. Mayor Dunlap, Councilmembers Waggoner, Ortega, Blackerby, Lionel Garcia voted "for" the motion. Councilmember Starnes abstained from voting. Mr. Greg Ingham, City Manager presented information on the Financial Reports. He reviewed the December 31, 2013 reports. General Fund revenues are at 31.43% which is about 1.5% higher than they were this time last year. Last year's ad valorem tax collection rate at this point was actually below the prior year's first quarter. We are seeing a little slippage in sales tax collections and some of our franchise fees and we will watch this as we move through the fiscal year. At 19.08 %, General Fund expenditures appear to be nearly 5% below where we were at this time last year, however a significant portion of that spread is related to the number of pay periods hitting in December versus January so we expect to see those numbers move closer together by the end of January. Plus we are continuing a conservative approach as we move into this budget year. City Council Minutes January 23, 2014 Page 1 of 2 279 280 Solid Waste revenues are at 24.53% and this appears to be about 1.5% ahead of last year, however, we reduced our revenue projections for interest rates and recyclables so even though the percentages there are higher, the dollar amounts are actually less. Our user charges are actually running slightly behind where they were last year even with the 2% rate increase. At 14.14% Solid Waste expenditures are about 5% below where they were last year at this time. Part of this is due to the fact that we had a large equipment repair on a piece of landfill equipment in the first quarter of the prior year, but part of it is because we are running very lean in terms of personnel because we have several vacancies that we have had difficulty filling. At 25.5% our Utility Fund Revenues are within a couple of 10ths of a percent of this time last year, however when you look at it on a monthly basis we have actually experienced a slight downward trend in water and wastewater revenue. Utility Fund expenditures are at 24.45% which is less than 1 A% higher than last year at this time. While we are going to be monitoring our trends here, it would be a significantly different picture if the City had not taken the steps that were taken to recover the water revenue that was lost when Cargill closed last year. In the September 30, 2013 report, the City finished the year in a good financial position. The General Fund revenues were at 98% after the transfers to the Health Insurance Fund and General Fund expenditures were at 93.47% which was 1 % below the prior year. Solid Waste revenues were at 89% after the transfer to the Health Insurance fund and System Improvement for the development of the new landfill, and the expenditures came in at 82 %. The Utility fund revenues came in at 93.4% with a $150,000 transfer to the Health Insurance fund and expenditures were at 93.11%. This budgeting and operations approach has been an effective tool as evidenced by the results of Standard & Poor's review of the City's bond rating in December. Mr. Ingham stated that we were contacted in late November by S &P and told that they would be reviewing our bond rating and that we would be rated by a new set of criteria that were issued in September, 2013. In the early part of December, the City went through the rating process which involved a conference call that included the management team, financial advisor, and S &P; and then staff provided additional information as required. Based on this review of the City of Plainview's financial position, "Standard & Poor's Rating Services affirmed its `AA -' rating, with a stable outlook... ". The Council and staff reviewed the agenda for the City Council meeting of January 28, 2014. The e being no further business, Mayor Dunlap adjourned the meeting at 12:32 p.m. chJ /41- Belinda Hinojosa City Secretary City Council Minutes January 23, 2014 Page 2 of 2