Interim Comptroller Virginia Cahill began with an overview of the Walcott Fund and the Kennedy Trust Fund.
explained that the Kennedy was in a CD while the Walcott
was in a couple of very small interest bearing accounts.
advised that none were given.
presented an overview of the third quarter ending March 31, 2012.
noted there were some areas of concern where transfers would be needed to cover the shortage.
On the revenue side, Ms. Cahill
reported that General Fund local receipts were averaging 78.03% of the budget at the end of March.
The following local receipts were falling below the 75% mark:
Penalties & Interest - 69.93%.
Continuing, Ms. Cahill
reviewed the enterprise funds
The Water & Sewer Enterprise Fund expenditures at the end of March 2012 averaged 71% of the budget.
Employee benefits were at 78.8% due to the retirement board assessment being fully paid for FY12 as of March 31.
Golf Enterprise Fund expenditures average 63.8%
of the budget as of the end of March 2012.
The following line items were over the 75% mark:
Lease Payment Land - 98.7% due to the fact that the lease of the land was fully paid for FY12 as of the end of March
Funding Schedule was at 100% and represents the retirement board assessment being fully paid for FY12 as of March 31.
Documents - Memo from Interim Comptroller Virginia Cahill; Report on Walcott Fund; Report on Kennedy Trust Fund; summary of expenditures and receipts by department
REQUEST TO SCHEDULE PUBLIC HEARING FOR THE DEDICATION OF SQUARE AT WEBSTER AND COTTAGE STREETS IN HONOR OF 2ND LT.