Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />City Council Minutes <br />May 4, 1992 <br /> <br />page 6 <br /> <br />anticipated expenditures for 1992. He stated that the fund balance has <br />progressed in the last five to six years. He further indicated that <br />there is still about a month to six weeks in which the City operated <br />with a deficit. He stated that the City's goal should be to increase <br />the fund balance to provide sufficient capital to operate the City <br />without borrowing money until City revenues become available. <br /> <br />The enterprise funds were reviewed by Gary Groen. Gary commented on <br />the fact that some employee time is not being charged into the garbage <br />service fund, therefore, the operating income does not fully reflect <br />the cost of the operation. <br /> <br />Gary Groen indicated that the Liquor store's operating income is very <br />good and that it is a very profitable operation which finances a lot of <br />City services. <br /> <br />Discussion was held regarding the utilities annual transfer to the City <br />of $72,000. It was indicated that this amount has not been increased <br />since 1987. The Council discussed the possibility of requesting an <br />increase from the Utilities. Pat Klaers indicated that although the <br />dollar amount contributed by the Utilities has not increased since <br />1987, the Utilities does now pay some of the City's electric bills. <br /> <br />Following the City's audit presentation, Gary Groen informed the <br />Council that the City of Elk River was in gooo shape; however, the fund <br />balance could be a little higher. <br /> <br />Councilmember Kropuenske thanked the finance staff for <br />1991. The City Council and Gary Groen commented on the <br />put out by the Finance Department with so few employees. <br /> <br />their work in <br />amount of work <br /> <br />It was the consensus of the City Council to accept the 1991 City Audit <br />as presented. <br /> <br />11. Adjournment <br /> <br />There being <br />THE MEETING. <br />CARRIED 3-0. <br /> <br />no further business, COUNCILMEMBER DIETZ MOVED TO ADJOURN <br />COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE MOTION <br /> <br />The meeting of the Elk River City Council adjourned at 10:00 p.m. <br /> <br />Respectfully submitted, <br />/f <br />~4f~~~ <br /> <br />Sandra Thackeray .~ <br />City Clerk <br />