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Council reviews city finances; treasurer reports $2.19 million ending balance
Summary
City Treasurer Kurt Niemeyer reported an ending balance of $2,191,169.87, noted energy rebates and permit receipts, and told council he has submitted an IRS appeal. The council approved the treasurer's report and scheduled Truth in Taxation discussion for Dec. 3.
City Treasurer Kurt Niemeyer reported the city's financial position at the Oct. 1 St. Stephen City Council meeting, saying the beginning balance was $2,172,153.12, total receipts for the period were $48,836.93 and total disbursements were $29,820.18, leaving an ending balance of $2,191,169.87. He told council the bank statement total (including outstanding checks) is $2,200,410.58 and noted rebates of $300 from Xcel Energy and $114.54 from Stearns Electric.
Niemeyer said the property tax levy has been submitted to Stearns County and that the Truth in Taxation hearing will be held during the Dec. 3 council meeting. He also reported receiving a $375 check toward a Verizon monopole permit, and listed five professional-fee invoices totaling $1,606.55, of which $1,111.25 has been received (balance due $643.70). Council moved to approve the treasurer's report on a motion by Gene Skaj, seconded by Danita Traut; the motion carried.
