City council members heard a short presentation from their auditing firm, AMGL of Grand Island, and also took action on a number of city business items during their regular meeting, March 8th at 6:30 p.m. at the city library. Items of business included approving licenses for a number of summer events, discussing ordinances, and purchasing equipment for the city.
Kyle Overturf of AMGL was present to go over the audit report and to answer any questions from the council. Overturf highlighted key points in his firms 66 page report to the city, and ended with a short 2 page benchmark that compared Plainview against communities of similar size.
The three major points outlined at the beginning of the report stated that the city’s net position (assets minus liabilities) for the current fiscal year was $5,668,812, up from $5,097,884 from the previous fiscal year. The second financial highlight from the report was that the city’s governmental activities had an ending net position of $3,089,738, with an unrestricted net position of $13,267. Those figures are up from the last fiscal year with those numbers being $2,809,911, and the unrestricted net position actually having a deficit of $49,214.
The final highlight stated in the audit report stated that the unassigned fund balance for the General Fund was a deficit of $311,912.00. Overturf noted during the presentation that the unassigned fund balance had improved over the last several years since AMGL first started auditing the city, and explained that the unassigned fund balance deficit meant that the city didn’t have reserve funds for new general spending. Overturf added that allocating some expenses of the General Fund to other areas, such as water or electric would also help alleviate this deficit, as would increases in property valuation. Overall, the audit report showed that the overall net change in fund balances for the city’s General Fund was $157,413.00.
Overturf ended the presentation with going over a two sheet “benchmark” report that compared Plainview against communities of similar size (populations of 1,000 to 3,000 people). As in the past, Overturf pointed out that the tax valuation per capita was significantly lower, at approximately $37,000 per person versus the $56,000 average of other communities. Overturf said that had a direct effect on tax revenue for the city, but added that he had seen a lot of smaller communities in the northeast part of Nebraska with low valuations when compared against the rest of the state.
Other City Business
-Council members approved a motion to purchase a semi and backhoe for the transfer station. The resolution authorized the borrowing of $140,000.00 amortized over 20 quarterly payments with a 2.5 percent interest rate.
-The city reported that they had received distribution funds from ACE in the amount of $4,369.00. City Administrator Jeremy Tarr said that the funds will be used to help purchase a new van for the city’s handivan program.
-A Class B Liquor License was approved by the council for Family Dollar.
-Several Special Liquor Licenses were approved for upcoming summer events, including the Plainview Fire and Rescue Horseshoe Tournament on June 1st, Chamber of Commerce Cornhole Tournament on June 3rd, Chamber of Commerce Sand Volleyball Tournament on June 4th, Keystone Street Dance on June 4th, 13/20 Street Dance on June 4th, and Beer Gardens on June 11th for the Hotrod Association Car Show.
-The city council opened bids for the haying of the area around the city’s lagoon. The winning bid approved by the council was from Trent Tarr for the amount of $720.00.
-Dennis Johnson from Bush and Roe went over the city’s liability insurance coverage and also answered questions from the council on Tuesday’s meeting. Johnson highlighted the rates and deductibles that had changed from the previous year, and noted that overall the city’s premium was down approximately $2,500.00.
-Susan Norris reported ongoing concerns about the quad housing project, saying that costs had continued to rise putting the project in jeopardy. Norris said that they were submitting an application to get extra grant money, but was unsure if it would be enough to meet budget and cash flow requirements.
-City Council members approved several time and dates for street closures related to upcoming track events to be held by the school. The dates and times approved were as follows: March 22 from 2:30p.m. to 7p.m., April 1st all day 8:30a.m. to 7p.m., and April 7th from 2:30p.m. to 7p.m.
-Council members moved their May regular meeting from Tuesday the 10th to Thursday May 12, due to the primary election that will be held on the 10th of May.