|TEAM DISCUSSES FINANCES|
CITY FINANCES 8-17-16 LMS
City Councilman and City Finance Team Chairman Jim Bockelman reported on the teamís July and August meetings during the August 17 City Council meeting.
He said June finances were discussed at the July meeting at which time 75 percent of the fiscal year budget had been spent with incoming revenue payments at 67 percent. That left a shortage of $90,000 which City Finance Director Amy Fealko explained would self-correct itself by August.
Bockelman said that in July the delinquent Local Option Tax payment process was moving forward.
Also at the July meeting Fealko outlined the cityís present purchasing process along with a more streamlined procedure which she prefers.
During the August Finance Team meeting Fealko listed the financial numbers from each city department and said there was nothing significant to report from Julyís statistics. She then re-presented the revised and more streamlined version of the cityís Purchasing Procedure. In the teamís opinion the new version is ready to be submitted to the council for discussion and action.
There was a discussion about having regular mandatory city personnel meetings focused on city policies and an explanation of the new purchasing procedures.
Bockelman said Fealko has checked on whether or not tax exempt agencies are required to make Local Option Tax payments and the official word is, they are not. In addition she has checked with the Public Employee Retirement System of Idaho (PERSI) regarding the city contributing to the retirement programs of elected city officials. Fealko was told that council members are considered to be city employees during their terms in office and all city employees, along with the city, contribute to the retirement fund.
Mayor Leo Marshall was a guest at the August Finance Team meeting and explained the purposes behind the teams he has appointed to advise him as well as members of the City Council.
Bockelman said that Lee Bilger and Shauna Heaps will be guests at the September Finance Team meeting. They will be discussing city taxes and how they affect the sale of property within the city. The September meeting will take place on the 14th at 11AM in the City Center Conference Room.
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