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City of Fulton Finance Committee Minutes, October 22, 2020

City of Fulton Finance Committee Meeting

October 22, 2020       

Fulton City Hall

                      

Present: Tammy Garibay, Dan Clark, Mike VanZuiden

Press: John Rohlf, Clinton Herald

General discussion was held regarding budget to actuals.

The City will be receiving $39,000 in insurance monies related to damage from the derecho back in August. Recommendation from Dan Clark is to place the $10,000 for lost trees into the General Fund. The remaining $29,000 would replenish the funds where expenses have already been incurred for repairs.

General reserve number at this time is approximately $109,000 due to clean up expenses. Payment was made out of General Fund initially. General Fund will see increase when transfers are made from video gaming and garbage funds as the Council approved back in September for the clean up costs.

Discussion was held concerning the request for CURES Act reimbursement. Plan is to put this item on the agenda for first meeting in November for discussion by the full Council. Radios and salaries are two of the major items being looked at for submission for the reimbursement.

 

Published in Public Meeting Minutes

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