Saturday, December 15, 2007

$772,443 of $1,903,518 FY 2006/07 Surplus into Capital Reserves

ABSTRACT: At the December 4, 2007 City Council meeting, the City Council voted to approve the allocation recommendations of Administrative Services Director Joyce Giufre, including the remaining amount of $772,443 into Capital Reserves of the total $1,903,518 2006/07 surplus. Comments are made regarding the allocation recommendations.

City Council Agenda
Regular Meeting
December 4, 2007


XI. Orders of Council
B. Receive report on the FY 2006/2007 General Fund Budget Surplus and provide policy direction.

On the recommendation of Administrative Services Director Joyce Giuffre, the City Council approved Giuffre’s recommended allocations of the $1,903,518 FY 2006/07 surplus, as follows:

$325,000: WestAmerica, Pay off Notes and Capital Leases.

$674,500: New Reserve Account for Sunset Center Bonds; after October 2011, the City can make prepayments without penalty.

$71,575: Autofind Mobile License Plate Recognition System: New GPS and Camera-Equipped Cart for police ticketing of overtime parkers.

$60,000: New Generator for Fire Department.

$772,443: Capital Reserves.

COMMENTS:
• $71,575 for an “Autofind Mobile License Plate Recognition System” speaks volumes about the priorities of the current City Council and City Administrator.

• While Administrative Services Director Joyce Giuffre recommended monetary amounts for a new Fire Department generator and new GPS and camera-equipped cart for ticketing of overtime parkers, Giuffre failed to recommend amounts for Capital Improvement projects, instead recommending the remaining $772,443 be put into Capital Reserves.

3 comments:

Anonymous said...

Why are the Mayor and Carmel City Council putting so much money into nice to have but nonessential expenses when there are so many day to day expenses like streets and maintenance plus essential capital improvements that are unfunded or underfunded? Why do Mayor McCloud and the City Council keep putting more funds into the city's reserves when those funds are badly needed now and the reserves are already 6-10 times larger than they need to be?

Anonymous said...

It is really too bad that Mayor Sue McCloud's extreme neoconservative views about minimizing public expenditures is causing Carmel to suffer so. If she would simply allow the city's income to be fully spent for the most pressing needs instead of putting a sizeable percentage into the city's already bloated reserves, the slow decline of Carmel in so many ways could be stopped if not reversed.

Anonymous said...

Thank you! You are truly a watchdog! Merry Christmas and hope for a truly New Year in 2008!