Meeting Summary
The City Council meeting focused primarily on the presentation of the draft fiscal year 2018-2019 budget. The CFO highlighted significant cuts made to the general fund budget over the past few years and emphasized a conservative approach to revenue projections and expenditures. Discussions included the sustainability of these cuts, the city's fund balance policy, and specific departmental budget adjustments.
Financial Matters
Fiscal Year 2018-2019 Draft Budget
Presentation of the draft budget, showing a nearly 7% reduction overall, with steeper cuts in some departments like Parks and Recreation (30%) and Public Relations (30%). The budget assumes sales tax at $28.4 million and use tax at $1.6 million.
Coming Up
Deadlines
- April 16th: Public hearing for the budget
- April 8th & 15th: Budget spreadsheet to be published in the Sunday paper
- May 7th: Resolutions for budget approval to be brought forward
Watch For
- Mid-year budget adjustments if departments need assistance
- Additional funds for street repairs and maintenance in July/August from year-end balances
- Renewal of service agreements with various organizations (e.g., Payne County Youth Services, Chamber, Visit Stillwater, Friends of Lake McMurtry, FAFSA)
- Potential service level agreements for the public pool (YMCA) and motocross track
Announcements
- Introduction of new finance department staff members: Ginger Grippe and Cami Koontz.
Agenda Summary
Presentation of Draft Fiscal Year 2018-2019 Budget
CFO Melissa Reams presented the draft budget, detailing revenue assumptions, expenditure categories, and the methodology behind the cuts. Key points included a conservative approach to revenue, departmental efforts to reduce costs, and specific adjustments in areas like Public Relations, Parks and Recreation, and Development Services.
Executive Session pursuant to 25 OS subsection 307 C10
A request for an executive session to discuss matters pertaining to economic development, including property transfer, financing, or proposals to entice businesses to locate within Stillwater, citing confidentiality concerns.