03/15/2004 Meeting Minutes - Laserfiche WebLink

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Philip M. Brdt, Diredor of Finance and Economic Development Clarefication ofMinutes ofMorcH 22, 2004 _ Mr. Marrie questions how it could be that revenues were expected to be declining and expenditures increasing, how we could operate. Mr. Brett reiterated the concept of worst case scenario budgeting and pointed out that the cash balances in the General Fund more than offset the worst case scenario expectations. At some point during these discussions, W. Brett made note of the fact that so far in 2004, municipal income tax revenues were up more than 30% higher than at a similar time in 2004. Mr. Brett further explained that he was did not expect that this level of increase to be maintained throughout the year but it was an encouraging sign nonetheless. Mr. Marquardt asked where the detail for the tables in the Mayor's Letter of Transmittal were. Mr. Brett explained that the detail for the tables in the Mayor's Letter of Transmittal comprised the 168 page budget. Mr. Marquardt requested that in the future that operating revenues and expenditures be segregated from capital, debt and other non-operating revenues. The fund structure of the Village's accounts and the budget itself is and has always been laid out in the same order with the General and Special Revenue funds listed and discussed first, the Debt Service Fund listed and discussed next, Capital projects third and finally, Trust and Agency Accounts. Each fund type has a description in the Mayor's Budget designating and describing the funds or fund types. Mr. Marquardt pointed out that on one of the pages in the Budget it was stated that a table followed the text when in fact there was no table but a chart. Mr. Brett took note of this error and assured Mr. Marquardt that it would be rectified in the future. Mr. Marquardt took exception to the fact that the 2004 Mayor's Budget contemplated the hiring of additional firefighters and he felt that there had not been substantial discussion in Council regarding the hiring of additional firefighters. Mr. Marrie agreed with Mr. Marquardt that such a item needed to be investigated and discussed further. Mr. Brett pointed out to Mr. Marrie and Mr. Marquardt that the Mayor's Budget is from the Mayor and his administration's perspective a planning tool. It does not and was never intended to circumvent Councilmatic action or approval and that even if an item were put in the budget, if its approval fell under the purview of Council then that item would be brought to Council per Village Ordinance or Charter. Mr. Marquardt raised the issue of the increase in the Village's debt. Mr. Brett concurred that there would be an increase in the Village debt. When it looked as if there was to be no further discussion, Mr. Brett pointed out that a responsible discussion of the Village's debt can not Page 3 of 6