FINANCE COMMITTEE 12-7-11 LMS
The Salmon City Council met on December 7th. Before the regular business meeting began Mayor Leo Marshall acknowledged the armed forces veterans in attendance and the 70th anniversary of the Japanese attack on Pearl Harbor.
In his Finance Committee report chairman Jim Baker said the committee is in the process of reviewing fees charged by various city entities such as the cemetery, the City Center, licenses and parks. He said once all the information is collected the committee’s findings will be presented to the council.
The committee reviewed an unaudited synopsis of the city’s overall financial position in fiscal year 2010-11 that had been prepared by City Finance Director Amy Fealko. According to the report overall revenues exceeded expenditures by three point three percent and equaled $46,809. Baker said the top five revenue sources exceeded budget projections by one point two percent or $14,843. Any inquiries regarding the report may be made to Fealko or the Finance Committee.
Each City Councilman received a copy of the supplemental year end closeout data. The Finance Committee recommends that the quarterly financial report be placed on the city’s web site for the public’s information.
The Finance Committee reviewed proposed revision of the present code that restricts the city’s ability to explore other financial institutions for the purpose of finding a higher rate of return on its investment monies. The committee recommended that the code amendment be scheduled for its required public hearing during the first council meeting in January.
The subject of grant application signing authority had been discussed by the committee and was later discussed by the full council. It was determined that if a grant involves the expenditure of any city money, such as ‘in-kind’ agreements, the grant application must be approved by the city before it is allowed to proceed. Grants that do not involve any expenditure of taxpayer dollars will not require a review by the council. The Finance Committee will develop a resolution reflecting those terms.
The Finance Committee also recommended that the Department of Environmental Quality Loan Application be approved and signed. /The loan is to fund mandatory upgrades to the city’s Waste Water Treatment Plant.
The council later approved the loan application and officially authorized it to be signed when the appeal period ends on December 31, 2011.
During the council’s Roundtable discussion Councilman Fred Waidely said he had received word from the Christmas Festival of Trees event and was happy to report the auction of decorated trees was a great success. Over $4,000 was made and will be donated to the EMTs new Ambulance Building fund. Waidely offered a “Well done!” to the Festival of Trees organizers.
The next meeting of the Salmon City Council will be January 4 beginning at 6PM in the Salmon Valley Center meeting room.
Want the latest headlines as soon as they are added?
Check out our new News Alert subscription service.
Table of Contents - - New Articles
Leslie Shumate Home Page - View Our Home Town - Salmon Valley Chamber