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Finance director reports January shortfall in health-insurance fund; council previews budget priorities including demolitions and streets
Summary
The finance director told the Finance and Personnel Committee that the health insurance fund posted a net year-to-date deficit of about $79,000 for January; the income-tax receipts came in above estimate by about $42,000. The mayor outlined budget priorities including $280,000 for demolitions, street repairs and equipment purchases.
At the Feb. 10 Finance and Personnel Committee meeting, Finance Director Flaker reviewed January financial results and the administration previewed budget priorities for the coming year.
Flaker reported that the health insurance fund for January showed revenues of about $433,000 and expenditures of about $512,000, producing a net year-to-date deficit near $79,000. He noted this negative position reflects encumbrances and a three-month purchase order opened at the start of the year to cover health-care charges; department chargebacks are planned to reduce the outstanding encumbrance in coming months.
On income tax receipts, the city’s estimate for January was $1,160,000 and actuals came in at just over $1,200,000 — about $42,000 above estimate. Flaker said department transfers authorized in the temporary budget before the holidays will begin appearing on future statements.
The administration summarized proposed budget highlights for the coming year: $280,000 total for demolitions (including $20,000 earmarked for emergencies), two new police cruisers, a new paver and attachments for the street department, a replacement passenger van for parts/transportation, planned park upgrades, cleaning of Fire Station 1 to address exhaust and contaminants, and use of about $750,000 in sidewalk funding from federal sources. The mayor said some funds are restricted to particular uses (for example, a Forest City settlement fund limited to a specific neighborhood) and noted that some grants operate on reimbursement schedules, meaning departments must pay expenses first and then file for reimbursement.
Committee members asked for clarifications about department presentations and requested printed/bound versions of budget pages with page numbers for easier review. The committee expects department-level budget presentations in the week ahead and a schedule of hearings to follow.
