HomeMy WebLinkAbout03-13-2023 BAC MinutesCITIZENS BUDGET REVIEW ADVISORY COMMITTEE
MINUTES OF REGULAR MEETING
MARCH 13, 2023
I. Chairman Napier called the Citizens Budget Review Advisory Committee meeting
to order at 6:00 p.m.
II. Pledqe of Alleqiance was recited by all.
III. Roll Call
Present
Mr. Middleton Ms. Cerda
Ms. Reed (a) Mr. Hall
Mr. McGinn Mr. Napier
Mr. Newhart
Not Present
Mr. Hoffman -- Excused
Also Present
Mr. Ken Killgore, Administrative Services Director/CFO
Barbara Brooke -Reese, MIS Manager
Janet Graham, Technical Writer
IV. Vote to Excuse or Unexcuse Absent Members
It was the consensus that Mr. Hoffman be excused from this meeting, and Ms. Reed
would be voting in his place.
V. Approval of Minutes: Meetinq of February 13. 2023
Everyone having had a chance to review the Minutes from February 13, 2023, Mr. Napier
called for a motion. A motion to approve the Minutes as presented from February 13,
2023 was made by Ms. Cerda, seconded by Ms. Reed, and approved unanimously via
voice vote.
VI. Review of First Quarter Financial Report
Mr. Killgore reviewed the first quarter financial report (SEE ATTACHED). He stated that
the first quarter looks good. He stated that the report would be presented to City Council
at next week's Council meeting. He explained the budget changes, the most of which
had to do with projects at the end of last year that were unexpended, so those balances
were brought forward. There were some purchase orders that were issued before year
end, and those are being re -budgeted in order to have them fall into this fiscal year.
CITIZENS BUDGET REVIEW ADVISORY COMMITTEE PAGE 2
MINUTES OF MARCH 13, 2023
Several adjustments were made for grant programs where the amounts were adjusted or
a new grant was awarded.
He explained the fund summaries and pointed out the departments that were over budget
and why that was so. He explained the report on the American Rescue Act Plan Fund
and also a forecast of the General Fund balance showing the amount of transfers that
were made for the unfinished projects. There was an adjustment to pay for the cost of
taking out the fuel tanks that were found on the Harbor Lights property. None of the R&R
account funds were used during the first quarter.
Other funds were summarized, and the majority of them were slightly more than were
projected. He asked for questions/comments from the Committee members.
Mr. McGinn addressed the funds that are held in the Seacoast National Bank. He asked
how those funds are insured. Mr. Napier stated the banks are qualified public
depositories, and the state collateralizes them as long as the governmental unit has their
funds in that bank. So they are totally collateralized. Mr. Killgore stated that the City files
a report every year with the state. The state issues those banks that are qualified to hold
the money. Mr. Napier opined that those funds are very safe.
VII. General Discussion by Members
It was the opinion of the majority of the Committee members that they are satisfied with
this budget report.
Mr. McGinn asked regarding the debt service under the golf course report, it shows that,
even though there was debt service in the previous years, there is none listed either in
the budget or in the first quarter actual. He asked if that means there is not any. Mr.
Killgore said that is probably because it is rolling up into other accounts.
Mr. Hall said that he did not see a listing of expenditures for the quarter. He would like to
see a more itemized listing. Mr. Killgore said, if Mr. Hall would get together with him, he
would address that.
VIII. Next Scheduled Meeting Date (Monday, May 15, 2023)
IX. Adiourn
There being no further business, Chairman Napier adjourned the meeting at 6:28 p.m.
By: ;,�L Date: `! ? ��
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