Board of Aldermen 09-22-2020 Page 12
Mayor Donchess
The letter did go out but Mr. Teeboom hasn't received it. A fund balance will go up at the end Mr.
Teeboom so Mr. Griffin can you give the exact number but | believe it’s — the fund balance will go up above
the figure you just mentioned and is going to be added to, to the tune of about, | think about $700,000.00.
Mr. Teeboom So you are $700,000.00 above the 10%.
Mayor Donchess
No above what is now and it is already about the 10%. So to get the exact figure, why don’t we turn to Mr.
Griffin. But the fund balance is above the 10%, more like 11 something, 11 and a fraction of a percentage
and will be going up if this proposal is adopted.
Mr. Teeboom So after this proposal is adopted and you take $4.5 million out of ...
Mayor Donchess
But remember that it is being back filled by the surplus which exceeds $4.5 million. So yes, in essence
what we are doing is we are applying surplus but the way the Resolution reads is it is fund balance money
but then the surplus moves into the fund balance. So at the end of the day it will be higher at June 30,
2020, it will be higher than it was on June 20, 2019.
Mr. Teeboom Mayor, | understand howit’s supposed to work. But | do not understand exactly wnat is
counted as fiscal year appropriations under the Resolution.
Mayor Donchess
Well that’s the answer that | have for your question. Mr. Griffin can give you the exact numbers. Butitis
above 10% and it’s going up not down.
John Griffin, CFO
Mr. Mayor and Madam President, | can help out a little bit here if | may?
President Wilshire
Mr. Griffin?
Mr. Griffin
As | indicated last night during the Budget Review Committee, the anticipated — we anticipate $36.8 million
dollars of fund balance before the application of the $4.5 amount towards the taxrate. That leaves us with
an 11.4% of the fiscal ’20 budget. Mr. Teeboom, you’ve asked why don’t we include more than that. We
never have, since I've been here. So we use the General Fund Appropriations as the denominator.
Mr. Teeboom Ok you use general fund appropriations of the denominator. | think somebody on this Board
ought to take a look at this Resolution, at the Ordinance thatthe Resolution refers to which is NRO 5135 A,
and B and C that starts fixing the thing. Because anybody that looks at it will be completely confused
exactly what is meant here, I’ve asked for that before. And a letter from the Mayor would help. | think if the
Mayor would address this question that | have of 5135 A and B and try to clarify this with maybe an
Ordinance change that would be helpful. Because right nowthere’s language you here | won’t bother you
with thatis not clear. With that | appreciate it. | would say though | am surprised that not a single, Ive
listened to the tape because there are no minutes on this Budget Meeting last night. So | listened to the
audio recording. | do not remember any Alderman asking any detailed questions other than Alderman
