Budget workshop coming 7 p.m. Tuesday, July 22
By Pat Hatfield
posted Jul 21, 2008 - 4:59:53pm
The City of Lake Helen is doing pretty well, financially, auditor Alex Kish told city commissioners at their July 17 meeting. He is with the accounting firm of Brent Millikan & Co. in New Smyrna Beach.
The city had net assets of $6.8 million at the end of Fiscal Year 2007, a slight increase over 2006. Liabilities, also up slightly, totaled $1.94 million. This left the city with a net worth of $4.9 million, compared to $4.6 million at the end of 2006.
Kish had a word of caution: Revenues declined from $2.2 million in 2006 to $2 million in 2007. Lake Helen's general-fund total at the end of 2007 dropped slightly, to about $700,000, from $760,000 the year before.
"Your financial structure is fairly strong," he told commissioners.
Commissioner Buddy Snowden summed it up.
"Lake Helen is still a successful community," he said, garnering applause from fellow commissioners and the audience.
Concerns about the city's cash flow and finances during the coming fiscal year prompted city commissioners to postpone a decision on pay raises for city workers until after a budget workshop at 7 p.m. Tuesday, July 22, at City Hall, at 327 S. Lakeview Drive.
A special meeting to establish the city's tentative millage rate is set for 7 p.m. Thursday, July 31, at City Hall. The city must set a maximum millage rate and report it to the Property Appraiser's Office by Monday, Aug. 4.
Commissioners want to see where they will be, financially, before making a decision on pay raises.
Commissioner Ann Robbins said she did not advocate extra pay increases for Police Chief Keith Chester — $1.92 an hour more, or $2.75 more an hour for Lt. Mike Walker — at a June 26 workshop, as reported earlier in The Beacon.
She merely presented information about how those merit raises, proposed a couple of years ago, but never given to several employees, would affect the city's finances.
Robbins, who said she is a fiscal conservative, believes such raises would be "exorbitant."
Commissioner Alan Cooke said he still feels seven people who did not get merit raises last time around should get raises of some sort, and the city should look at a cost-of-living raise, also.
Commissioner Lou Benton continued his opposition to pay raises. He said the economic climate would likely be worse next year than it is now. The city and the taxpayers can't afford it, he said.
Mayor Joan Duffy brought up the matter of holidays again. She told commissioners employees want off the day after Christmas, and are willing to swap the Veterans Day holiday for that day. Commissioners OK'd the swap, reasoning that it gives employees time with their children. Children are not in school the day after Christmas, but they are on Veterans Day.
Commissioners didn't discuss another request, to allow employees to take their birthdays off with pay.
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