02/18/2014 Meeting Minutes - Laserfiche WebLink

Home Browse Search

each cost center where an employee works. The actual increase in our healthcare premiums is about 31%, however if you recall we only charged 11 months last year and utilized some fund balance, hence the 45% increase from the prior year. • The Separation Pay Fund transfers in were left at the reduced level of the prior year to help defray the cost increases and revenue losses in the general fund and other funds where salary and wages are expended, while we grow into our new revenue levels. We originally planned on building the fund for four years, but this will stretch it to five years. • Bond retirement funds - While in total the debt has increased from the significant EPA mandated improvements that required the $59 million in loans, a large portion of debt is still on target to be paid off at the end of 2016 that will allow us to reallocate resources such as property tax from the bond retirement fund to the general fund if necessary. Also, the street and storm debt payments will be cut in half after 2016 so that the annual road improvements can be paid for out of that fund rather than borrowing each year. The chairman asked for a comparison of employees by division and council was encouraged to review and bring any questions to the finance director or ask at the committee meeting set for Tuesday, February 11, 2014. Councilman Kearney made a motion to keep the ordinance 2014-8 in committee and Councilman Barker seconded it. The vote was 3-0. On Tuesday, February 11, 2014 the finance committee met again on ordinance 2014-8. Present were committee members Kearney, Schumann and Barker, Council members, Williamson, Limpert and Heman. The Finance Director, Safety/Service Director and Planning Director were also present. Council had received the FTE chart by division via email. Several follow-up questions were asked and answered. The administration requested suspension as the weather has already utilized the temporary budget in place and there are several key time-sensitive projects included in it as well. Kearney made a motion to approve the ordinance as amended with suspension and Barker seconded the motion. It passed 3-0.