Minutes 10/14/1978 - Laserfiche WebLink

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226 75-441 - ~he City Manager made the following ~eport regarding transfer of funds from Contingency (Emergency) Fund into the Operating Budgets: "Transfer of $~0~000 from Emergency into Public Works to pay for dumpmaster rental services, which was requested because of breakdown of equipment; $15,000 has bee~ trans- ferred into claims and settlements to the City Attorney's b~e~ to refund upon request to those people who have paid for the boarding-up fees, at ~hich the court ruled we should refund. This amount has been transferred Emergency Contingency Fund into Operating Fund and I wish to report this to City Council." Motion of Mr. Holley and seconded by Mr. Early, to be received as information, was adopted by unanimous vote. 75-442 - Motion of Mr. Barnes and seconded by Mr. Elliott, to receive the City Manager's Quarterly Financi&l Report as information, was adopted by unanimous vote. 75-443 - The City Manager ~z~sented the following Annual Financial Report: "The Annual Financial Report of the City of Portsmouth, Virginia for the fiscal year end June 30, 1975, is submitted herewith. Audit reports for revenue sharing funds and for the retirement systems are enclosed also. As you will note in the Annual Financial Report, the General Fund closed the year with an available fund balance of $2,182,278.10; the Public Utility Fund closed with an unappropri fund balance of $224,683.04; and, the Debt Service Fund closed with a deficit of $195,671.43. The City Council has indicated o~ several occasions its desire to upgrade the wages of City employees if funds became available. Copies of a General Wage Survey and a General Wage Analysis are enclosed, which cover approximately twenty-six percent of th~ City's job classif cations, containing sixty-two percent of our employees. They support very consistently your premise that the wases of City employees need to be increased. Based on the availability pf funds as documented by the Annual Financial Report, I shall initiate the financial analys which, I feel, is necessary in order to determine the feasibility of a general wage increase and, if so, what level of ~ncrease m~ght be recommended. Considerable deliberation will be required prior to my being able to make a recommendati as to the specific level of increase for employee wages. Although the Annual Financial Repor~ records a fund balance of over $2 million in the General Fund, there are at present several other important matters which will require funding. These include: (i) elimination of Debt Service Fund deficit (2) funds needed foe working capital (3) reduction of school funding by Commonwealth (4) increased group hospitalization costs (43%) (5) refund of vacant buildin~ fees (6) possible large increase ~n retirement costs (which will not be known until actuarial valuation is completed several months from now) (7) projected increase ~n Tidewater Transportation District Commission cost (8) consideration of usc of surplus for 1976-77 budget It is my desire that each of these funding requirements be-reviewed by the Municipal Finance Commission, as well as by my staff and myself, prior to my making a recommendation to you on a general wage increase. In the event that some level of funding is available for general wage increases, it would be my recommendation that they not be effective until Januar I, 1976. Subject to your approval, I will proceed with the procedures outlined to develop a recommendation during the next 30 days. Enclosed you will find copies of the items of discussion which resulted from the "Meet and Discuss" sessions which were conducted for all City employees: (1) Annual Financial Report (2) Audit Report Revenue Sharing Funds (3) Audit Report Retirement Systems (4) General Wage Survey (5) General Wage Analysis (6) "Meet and Discuss" Sessions Results" George R. Walker, 1749 Spratley Street, spoke regarding audit for fisea~iF§ar ending June 30, 1975 and certain funds in the audit. Motion of Mr. Elliott and seconded by Mr. Barnes~ the. C~ty ~ianag.er~s'~'epert t~-be re- ~ei~ed:a~_in~armatien, wam adopted by unanimous vote. Motion of Mr. Barnes and seconded by Mr. Halley, to concur in the City Manager's recom- mendation and he consider his cover letter and recommendations and report back in 30 days, was adopted by unanimous vote. Lted