Board of Aldermen 09-22-2020 Page 11
Steve Bolton, Corporation Counsel
Madam President?
President Wilshire
Attorney Bolton.
Attorney Bolton
The Ordinance allows for public comment. It does not mean that the Board of Aldermen is subjected to a
cross examination.
President Wilshire
Thank you, Attorney Bolton.
Mr. Teeboom In absence of his letter which does not exist to my knowledge, it’s fair for me to ask the
question what is the fund balance. Could somebody address that question?
President Wilshire
| am not seeing anyone stepping up to answer your question, Mr. Teeboom.
Mr. Teeboom Alright, then I'll make some more comments.
President Wilshire
Ok.
Mr. Teeboom The Fund Balance is supposed to be a certain amount that after you deduct this $4.5 million
you are still supposed to have 10% or more of that fund balance to represent Fiscal Year Appropriations.
So, the question then is, what are the year fiscal appropriations ending on June 30" of this year? Is the
fiscal appropriations the General Fund Appropriation? Is it total appropriations? Is it all appropriations
including county taxes? Could somebody address to me exactly what is meant by “Fiscal Year
Appropriations’ relative to this Resolution?
President Wilshire
As the Attorney just stated, we are not going to go back and forth. If you have some comments, please
leave your comments Mr. Teeboom.
Mr. Teeboom Like Lori Ortolano said, howcan you ask questions if you don’t produce the letter you are
supposed to address this with? | have no idea if this $4.5 million leaves 10% of fiscal appropriationsin the
general fund. Generally the General Fund is about $30 million dollars. So we should at this moment have
at least $30.5 million dollars thereabout in the General Fund.
Mayor Donchess
Madam President, if it will shorten things, | could answer this.
Mr. Teeboom That would be helpful.
