03/12/1998, Workshop Meeting Minutes2264
MINUTES OF
KENNEDALE CITY COUNCIL
PRE COUNCIL WORKSHOP -MARCH 12, 1998
100 E. BROADWAY ST. -COMMUNITY CENTER
Mayor Pro Tem Mark Wright called the workshop to order at 7:10 p.m.
Members present were Councilmen Wright, Steeno, Barrett, and Boone. Mayor Mundy arrived at
7:14 p.m., and Councilman Kovach arrived at 7:20 p.m.
Staff present were Ted Rowe, Kathy Turner, Lynette Whidden, and Thad Chambers.
ITEM NO. 1 -Review of 1996/1997 annual audit.
Mr. C. N. Guinn, city auditor with Stovall, Grandey & Whatley, L.L.P., was present and stated
that the city was in a strong financial condition with little debt. He also mentioned that the city's
cash and cash equivalents increased as well as the investment income. Mr. Guinn also
complemented the City Staff on their efforts to assure effective financial management.
Councilman Wright questioned if there were any areas that the city could improve upon. Mr.
Guinn replied that a conservative position would be to pay off all the bonds however, the interest
rates on the outstanding bonds are so low that this option is not necessary. No other suggestions
were noted.
ITEM NO. 2 -General discussion.
The City Manager briefed Council on the sales tax received and said it reflected another increase
of approximately 9% above budget projections.
Mayor Mundy reminded everyone of the Chamber Awards Banquet coming up in April and
encouraged Council member attendance.
Councilman Boone announced that he would not seek re-election as he was moving to Indiana.
There being no further discussion Mayor Mundy adjourned the workshop at 7:25 p.m.
APPROVED:
~~~~
Mayor, Robert P. Mu
ATTEST:
~~~ X ~-
City Secretary