Minutes

Special Board of Aldermen 6-13-2022 Page 9

the Country, what guardrails do we have that we say we have to include capital projects, or we don’t have to include?
Do we have to include enterprise funds or we don’t? Is there some metric, or some guideline that we can point to, or
can we sort of pick and choose how we would like to?

Steve Bolton, Corporation Counsel

| think the Municipal Budget Act has something to be said on what the budget is.

John Griffin, CFO/Treasurer/Tax Collector

Special Board of Aldermen 6-13-2022 Page 8

Alderman Clemons

And | would agree with you. Thank you.

Alderman Cathey

Thank you Madam Chair. | believe this question will be for Attorney Bolton among many questions. In the language
of the SB52 it states that “such a tax cut shall provide for an override threshold”. Am | to understand that piece of
legislation is dictating to us to create an override when it says “shall”? Like it’s telling us you have to put this into the
language of your tax cap laws or it just saying it can include it?

Special Board of Aldermen 6-13-2022 Page 7
years.

Alderman Clemons

So what | am coming to the understanding here is that we are this Fiscal Year ’23 we have $113 million under the
spending cap. It seems to me that if we don’t receive a significant sum of grants in the next year or before July 2023
that we could be in trouble?

The other question | have is around the same lines and that’s for the Enterprise Funds. If we see an uptick in
revenue, we can only spend — we can take the revenue in but we can only spend a portion of it out, correct?

Special Board of Aldermen 6-13-2022 Page 6

my home budget if | got a loan or a grant for $25,000 and | went out and bought something and then | had to whatever
| did and then that relied on normal income, those payments would then be in my home budget. If | didn’t get that
grant again the next year, then I’d be hamstrung because | wouldn’t be able to afford it. Does that make sense?

Steve Bolton, Corporation Counsel

Special Board of Aldermen 6-13-2022 Page 5

Alderman Sullivan

My only question was why did we do it for three years in a row and now we're not doing it?

Steve Bolton, Corporation Counsel

Special Board of Aldermen 6-13-2022 Page 4

the calculation at the end of the day. This particular spending cap has all the appropriations in it from last year and
this year and then you apply the metric which is the State and Local Government Implicit Price Deflator Multiplier and
then you get a new number.

Alderman Sullivan

Special Board of Aldermen 6-13-2022 Page 3
imagine, it was a lot lower three years ago than it was last year. So my expectation is that it will increase next year.

Alderman Sullivan

Special Board of Aldermen 6-13-2022 Page 2

A Special Meeting of the Board of Aldermen was held Monday, June 13, 2022, at 7:00 p.m. in the Aldermanic
Chamber and via Zoom teleconference which meeting link can be found on the agenda and on the City’s website
calendar.

President Lori Wilshire presided; Interim Deputy City Clerk Tara King recorded.

Prayer was offered by Interim Deputy City Clerk Tara King; Alderman-at-Large Michael B. O’Brien, Sr., led in the
Pledge to the Flag.

Board of Aldermen 06-14-2022 Page 11

Alderman Thomas Lopez
Alderman-at-Large Michael B. O’Brien, Sr.
Alderman-at-Large Lori Wilshire
RELATIVE TO THE SUPPLEMENTAL APPROPRIATION OF $1,500,000 OF FY2022 ASSIGNED FUND BALANCE INTO
DEPARTMENT 126 “FINANCIAL SERVICES”, ACCOUNT 68500 “ABATEMENTS”
Given its first reading; Assigned to the BUDGET REVIEW COMMITTEE and SCHEDULE A SPECIAL BOARD
OF ALDERMEN PUBLIC HEARING AT 7:00 PM ON THURSDAY, JULY 7, 2022, by President Wilshire

NEW BUSINESS — ORDINANCES - None