HomeMy WebLinkAbout06/10/1991 City Council MINUTESOFTHE CITY COUNCIL MEETING
HELD ON
JUNE 10, 1991
The Special Session of the City Council of the City of The Colony, ~--~
Texas was called to order at 7:00 p.m. on the 10th day of June,
1991 at City Hall with the following Council roll call:
William W. Manning, Mayor Present
Mike Lynch, Councilman Absent
Billy Sharp, Councilman Present
Dale Therio, Councilman Present
Rob Burchard, Councilman Absent
Lou Gomez, Councilman Present
Joel Marks, Mayor Pro-tem Present
and with five present, a quorum was established and the following
items were addressed:
1. PLEDGE OF ALLEGIANCE
2. WORK SESSION 'REGAR'DING FINANCING AND BUDGETING PROCEDURES OF
THE CITY OF THE COLONY
Mayor Manning stated that'~ he . had requ~e.st'ed Mr. Engla'nd to
prepare a briefing for the council regarding financing and
budgeting in general and specific. ~ ......
Mr. James England, Finance Director began his presentation by
recapping the accomplishments in the Finance Department since the
merger of the City and the MUD in October 1986. Mr. England said --
all accounting and payroll for both the Utility Fund and the
General Fund was on computer by October 1987.
Mr. England then gave a very informative presentation using
overheads and hand outs which covered the following items: A. Organization of the Finance Department
B. Government standards under which the city operates
C. Four year analysis of the tax rate, calculations and
valuations. Mr. England explained that this year the Appraisal
District has said our valuation may come in under $503, million.
He went on to say it is very unusual for a growing city like The
Colony to have values go down. There was a brief discussion
regarding the effect this will have on our budget this year.
D. Budget calendar and break down of General Fund and Utility
Fund Budgets
E. Explanation of all Funds in the City, including; General
Fund, Systems Fund, Special Revenue Funds, Enterprise Fund.
Mr. England answered specific questions from the Council
regarding fees, with a recommendation from Mr. Hall that we need to
re-evaluate our fees before ~the budget process begins. There was
a brief discussion regarding various franchise fees.
Mr. England explained how capLtal ~purchased are' prioritiz'ed-
and financed. ~ ·~· ,.I
There was a lengthy discussion regarding the deficit in the ~
Enterprise Fund. Mr. England said we are at a critical place,
noting that this issue has been brought to the council's attention
for tbe past 3 years. He said we must do something to turn this
trend around or the City will be in serious trouble.
Mr. England explained debt options: General Obligation Bonds,
Revenue Bonds, Certificates of Obligation, Public Property Finance
Contractual Obligations, and Lease-Purchase Financing; giving the
purpose and scope of each optzon.
Mr. England did not go over the investment schedule, however
Mayor Manning asked him to prepare a synopsis of the investments
for his clarification.
8:58 p.m. Recess
9:05 p.m.
3. EXECUTIVE SESSION AS AUTHORIZED BY ARTICLE 6252-]7, V.A.C.S.,
SECTION 2G, REGARDING PERSONNEL, TO-WIT:
A. MUNICIPAL COURT JUDGE
B. CITY ATTORNEY
11:20 p.m.
Upon reconvening in open session the following item was
addressed:
4. CONSIDERATION OF ANY APPROPRIATE ACTION TO BE TAKEN AS A
RESULT OF THE EXECUTIVE SESSION
Councilman Marks moved to take no action. The motion failed
for lack of a second. Councilman Gomez moved to terminate the
employ of David Williams as Municipal Court Judge. The motion
failed for lack of a second.
With no further business to address, Councilman Marks moved to
adjourn the meeting and Councilman Tberio seconded the motion which
carried with all members voting Aye.
Mayor Manning adjourned the meeting at 11:22 p.m.
APPROVED:
W~lliam ~ Manning, Ma~
ATTEST:
/~'~
Patti A. Hicks, CMO
City Secretary
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