|YEAR END FINANCIALS|
FINANCIAL OVERVIEW 1-4-17 LMS
City Finance Director Amy Fealko presented the January 4 City Council meeting with a financial summary of the year 2016 which is now one hundred percent complete. She said the summary was an overview of the 30 page report given to the city’s Finance Team every month.
She said the General Fund Revenues for the year were 105.3 percent of the 2016 budget and expenditures were 99.5 percent of the projected budget.
The top four revenue generators for the city come from property taxes, sales taxes, the share of state revenues the city receives plus liquor sale revenues from the state. Those four categories account for about 90 percent of the total General Fund revenue.
The city budgeted $1,246,000 and ended with $1,269,000 or 101.8 percent of the budgeted amount.
Fealko said departments which come under the General Fund are; Executive, Administration, Community Development, Planning and Zoning, Sacajawea Center, Police, Parks, Swimming Pool and the City Center. There are also stand-alone funds such as the Cemetery Fund, Streets and Alleys Fund and the Local Option Tax (LOT). Fealko commented that 2016 was LOT’s best year so far with an income of $112,509 and allocations totaling $84,245.
The Water Fund and Sewer Fund are two ‘enterprise’ funds. Of the $65 monthly charge for water and sewer, $37 goes to Water and $28 goes Sewer. Water revenue for the year came to $1,014,000. Sewer revenue totaled $740,000. Water Department expenditures equaled $680,000 and Sewer Department expenditures were just over $500,000.
The summary contained many more details and she invited the councilmen to ask any questions they may have after further study.
Following research and discussion of a request for a street light in the vicinity of 411 Daisy Street the City Council unanimously rejected taking the request to Idaho Power Company. The required process calls for the constituent to file the request with the city and, if approved, the city then forwards the request to the power company. The council felt that the business making the request could mount some roof top lighting to take care of its dark parking lot.
A tie vote was the result of discussion over whether or not to grant a request to waive base fees for city services in the area of 9th Street. It was explained that some homeowners had torn down their house last September and the new home would not be ready for city services until this month. They were asking that base fees be waived for September through December.
A motion made by Councilman Jim Baker to deny the request drew ‘yes’ votes from Councilmen Rob Jackson, Baker and Ken Hill and ‘no’ votes from Councilmen Jim Bockelman, Russ Chinske and Neal James. The tie was broken by Mayor Leo Marshall who voted in favor of the motion to deny.
The topic brought a request from James for a future review of city fees charged for turning services on or off.
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