|The regular scheduled meeting minutes of June 21, 2011, show that the city council approved the FY12 budget with corrections. The ordinance includes a financial summary of all projected revenues and expenses for the fiscal year, followed by a detailed line-item breakdown of all associated expenses for each city department and public utility service. The utility and city finances are in good standing. The city, however, continues to struggle receiving the necessary utility related revenues to cover the operating expenses. The city council made a decision to continue subsidizing the washeteria by transferring money from other funds, such as the Payment in Lieu of Taxes (PILT).
The city bookkeeper and the utility clerk prepare monthly financial reports and submit them to the city council on monthly bases. The bookkeeper continues to provided RUBA staff monthly financial reports. According to the financial reports, the city and its utilities are current in paying all water and wastewater bills. The year-to-date revenues and expenses fluctuate from month to month, but overall, the revenues are at the equal or above those budgeted and the expenditures are equal or below those budgeted.
The city council is active in the budget appropriation process and it has a good grasp of the fiscal reality of the city and utilities. The council makes informed decisions regarding utility finances because it receives and reviews monthly financial reports. According to the monthly city council meetings, the city council makes fiscal adjustments when necessary by amending the original budget.