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16 NOV 03 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. REGULAR CITY COUNCIL MEETING - CITY HALL - #1 MUNICIPAL DRIVE The City Council of the City of Jacksonville, Arkansas met in regular session on November 3, 2016 at the regular meeting place of the City Council. Alderman Bolden delivered the invocation and Mayor Fletcher led a standing audience in the “Pledge of Allegiance” to the flag. ROLL CALL: Aldermen: Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard answered ROLL CALL. Mayor Fletcher also answered ROLL CALL declaring a quorum. PRESENT EIGHT (8), ABSENT (2). Aldermen Bolden and McCleary were absent. Others present for the meeting were: City Attorney Robert Bamburg, Director of Administration Jim Durham, City Engineer Jay Whisker, Fire Chief Alan Laughy, Police Chief Kenny Boyd, IT Director Scott Rothlisberger, Park and Recreation Director Kevin House, 911 Director Tabby Hughes, CDBG Director Theresa Watson, Code Enforcement Officer Charlie Jenkins, Alderman Elect Les Collins, Johnny Simpson, Gerald Clark, interested citizens, and members of the press. PRESENTATION OF MINUTES: Mayor Fletcher presented the minutes of the regular City Council meeting of October 20, 2016 for approval and/or correction at the next regularly scheduled City Council meeting. APPROVAL AND/OR CORRECTION OF MINUTES: Alderman Howard moved, seconded by Alderman Twitty that the minutes of the regular City Council meeting of 6 October 2016 be APPROVED. MOTION CARRIED. CONSENT AGENDA: REGULAR MONTHLY REPORT/ENGINEERING DEPARTMENT Alderman Ray moved, seconded by Alderman Mashburn to approve the regular monthly report for October 2016. PERMITS/LICENSE ISSUED INSPECTIONS PERFORMED Building Permits 10 Building Inspections 30 Business Licenses 7 Electrical 32 Plumbing 37 HVACR 19 ROLL CALL: Aldermen: Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. MOTION CARRIED. WASTEWATER DEPARTMENTS: WATER DEPARTMENT: FIRE DEPARTMENT: 1 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. POLICE DEPARTMENT: PUBLIC HEARING ORDINANCE 1560 (#20-2016) AN ORDINANCE CONDEMNING STRUCTURES AND REAL PROPERTIES AT THE LOCATION NOTED BELOW IN JACKSONVILLE, ARKANSAS FOR STRUCTURAL DEFECTS, DEFICIENCIES, AND PUBLIC HAZARD CONDITIONS; DECLARING AN EMERGENCY; AND, FOR OTHER PURPOSES. Mayor Fletcher opened the public hearing at approximately 7:03 p.m. Code Enforcement Officer Charlie Jenkins offered the addresses of 195 Roosevelt Road and 417 South Oak Street for consideration to condemn. He related that Code Enforcement has been working on 195 Roosevelt Road since April 17, 2014. He offered a PowerPoint presentation outlining the numerous deficiencies and structural hazardous conditions. He explained that in 2014, Code Enforcement Officer Nolan and Building Inspector Manny Browder conducted an inside inspection of the house. He related that it was found that the roof was being held up by a pole in the kitchen, he then offered photographs demonstrating that the roof and sides of the home were completely dilapidated and about to fall in. He then presented 417 South Oak, explaining that this is a house that burned in January of 2014. He stated that the home was red tagged in January of 2014. He reviewed the extensive fire damage on the inside and outside of the house. He stated that the house is unsafe to be entered. He then answered Alderman Sansing, that the estate regarding 417 South Oak has been settled and the estate paid $64,000 to retire the mortgage, however Ocwen Bank holding the mortgage said that the lady who perished in the fire still owed late fees and interest on the loan. He stated that the bank did not settle for the $64,000 and still hold title to the house. City Attorney Bamburg clarified that technically it is still in the estate’s name with the Bank being the protected mortgagor on the property. With no one from the audiences wishing to address either of the properties, Mayor Fletcher closed the public hearing at approximately 7:06 p.m. Alderman Elliott moved, seconded by Alderman Sansing that Ordinance 1560 be placed on FIRST READING. ROLL CALL: Alderman Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. NAY (0). MOTION CARRIED. Whereupon City Attorney Bamburg read the heading of Ordinance 1560. Alderman Ray moved, seconded by Alderman Mashburn to APPROVE Ordinance 1560 on FIRST READING and suspend the rules and place Ordinance 1560 on SECOND READING. ROLL CALL: Alderman Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. NAY (0). MOTION CARRIED. Whereupon City Attorney Bamburg read the heading of Ordinance 1560. 2 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. Alderman Ray moved, seconded by Alderman Sansing to further suspend the rules and place Ordinance 1560 on THIRD and FINAL READING. In response to a question from Alderman Traylor, Code Enforcement Officer Jenkins offered that the owner of 195 Roosevelt, Mrs. Menifee, came to his office and they spoke extensively regarding the house when she received notice. He stated that he informed Mrs. Menifee of the public hearing, adding that he told Mrs. Menifee that she has the opportunity to come before the City Council and address them. He then answered that the regarding 417 South Oak, he contacted the heir of Mrs. Padgett in Sherwood, a Ms. Scribner. He explained that he spoke with Ms. Scribner extensively about the house, saying that basically she gave up the house when Ocwen Bank demanded more money. He then assured Alderman Traylor that Ocwen Bank had been notified and is aware of the proceedings. ROLL CALL: Alderman Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. NAY (0). MOTION CARRIED. Whereupon City Attorney Bamburg read the heading of Ordinance 1560. Alderman Ray moved, seconded by Alderman Sansing that Ordinance 1560 be APPROVED and ADOPTED. ROLL CALL: Alderman Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. NAY (0). MOTION CARRIED. Alderman Ray moved, seconded by Alderman Mashburn that the EMERGENCY CLAUSE be approved and adopted. ROLL CALL: Alderman Elliott, Sansing, Ray, Mashburn, Traylor, Twitty, Smith, and Howard voted AYE. NAY (0). MOTION CARRIED. RD ORDINANCE 1560 (#20-2016) APPROVED AND ADOPTED THIS 3 DAY OF NOVEMBER, 2016. STREET DEPARTMENT: SANITATION DEPARTMENT: PARKS & RECREATION: PLANNING COMMISSION: FINAL PLAT Jamestown Subdivision PH II City Engineer Whisker stated that this phase of the Subdivision is an extension of the street, consisting of 16 lots, adding that the developer has been doing each phase with approximately 15 to 20 lots each time. He stated that this culdesac will contain slightly larger homes. He then noted that the Subdivision phase passed the Planning Commission, adding that the streets and drainage are in, as well as water and sewer. He recommended passage of the final plat. Alderman Elliott moved, seconded by Alderman Ray to approve the final plat of Jamestown Subdivision PH II as presented. MOTION CARRIED. 3 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. GENERAL: PRESENTATION OF THE 2015 CAFR Gerald Clark of McAlister and Associates addressed the City Council saying that it is his privilege to present the Comprehensive Annual Financial Report (“CAFR”) for the City of Jacksonville regarding the year ended December 31, 2015. th He stated that calendar year 2015 marks the 19 consecutive year that the City has prepared a Comprehensive Annual Financial Report. The 2015 annual report was prepared by the City’s Finance Department and contains financial statements audited by the City’s auditing firm, McAlister & Associates, P.A., CPAs, along with pertinent financial, economic, demographic, and statistical information related to the City of Jacksonville over a ten-year period. The purpose is to provide the City’s elected officials, citizens, financial institutions and other interested parties with detailed information concerning the financial condition and performance of the City of Jacksonville. Each year, since 1997 and including the 2014 report, the City’s CAFR has received the Certificate of Excellence in Financial Reporting awarded by the Government Finance Officers Association of the United States and Canada (GFOA). The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. The 2015 Comprehensive Annual Financial Report has also been submitted to GFOA for award consideration. Independent Audit The City is responsible for the preparation and fair presentation of the financial statements in accordance with generally accepted accounting principles. The City is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements. Our responsibility as auditors is to conduct the audit in accordance with generally accepted auditing standards and government auditing standards; to express an opinion on the City’s financial statements; and to gather sufficient evidence to provide a basis for the audit opinion. Based upon our audit, we have rendered a “clean”, or unmodified opinion on the City’s financial statements for the year ended December 31, 2015. An unmodified opinion means that the financial statements have been prepared using accounting principles generally accepted in the United States of America (GAAP), do not contain material misstatements, and are fairly presented. Our Independent Auditor’s Report is presented on page 11 of the CAFR. 4 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. Management Letter We have issued a formal management letter, included with the annual report, which is a customary by- product of the audit process and is intended to provide management with suggestions and guidance in the ongoing effort to improve internal controls. The management letter addresses the resolution of matters that were reported in the prior year audit, and contains three comments related to the 2015 audit. New Accounting Statements Adopted in 2015 Governmental Accounting Standards Board (GASB) sets standards that are national and apply to all government financial reports prepared in accordance with generally accepted accounting principles. During 2015, the City adopted GASB Statement No. 68, “Accounting and Financial Reporting for Pensions – an Amendment of GASB Statement 27”, and GASB Statement No. 71, “Pension Transition for Contributions Made Subsequent to the Measurement Date-an Amendment of GASB Statement No. 68”. These significantly revised the accounting and reporting for pension costs and liabilities. Under the old standard of GASB 27, reporting of pension costs was limited to recording as an expense contributions annually required by law. Under the new standard required by GASB 68, the City is required to record and report in the government-wide financial statements as a long-term liability it’s proportionate share of the net pension liability not only for the two old local Police and Fire Pension Plans, but also it’s proportionate share of the net pension liability for the two cost-sharing statewide plans in which it participates - Arkansas Public Employees Retirement System (APERS) and the Arkansas Local Police and Fire Retirement System (LOPFI). APERS has approximately 720 participating employers, while LOPFI has approximately 118. Proportionate shares are determined based on employer contributions to the plans. While Jacksonville’s proportionate share percentages were small, the net pension liabilities of these plans were so large that, as a result of implementing GASB 68, the City was required to report a long-term net pension liability at 12/31/2015, net of deferred inflows/outflows, of $13.3M on the government- wide statement of net position. This is only a reporting issue. Contribution rates and funding requirements are not impacted by GASB 68, and employers will continue to pay the contribution rates as determined each year by the Board of Directors of these plans. A detailed discussion of the effects of implementation of the new accounting standards can be found in the Management’s Discussion and Analysis and in the Notes to the Financial Statements in the Report. 5 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. FINANCIAL HIGHLIGHTS The following are financial highlights of the 2015 report: The first two financial statements in the CAFR are referred to as the government-wide financial statements. These statements include all funds of the City, with the exception of the Police and Fire pension trust funds. The first of the government-wide financial statements is the Statement of Net Position. This statement is comparable to a balance sheet for a private business enterprise. The Statement of Net Position presents information on all of the City’s assets and liabilities on a full accrual basis with the difference between the assets and liabilities reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating. The City’s Statement of Net Position indicates total assets of the City were $66M at the end of 2015. This is an increase of $4M from 2014. Of the total assets, $51M is capital assets, $7M is cash and investments, and $8M is accounts receivable and other assets. Total liabilities of the City were $27M, an increase of $15M from 2014. Of the $27M total liabilities, $24M is considered long-term obligations due beyond one year and $3M are considered current and other liabilities. Total assets exceeded total liabilities by $38M at the end of 2015. The amount by which assets exceed liabilities is referred to as the City’s “Net Position”. Net position is essentially composed of three components: the largest of which, for the City, is it’s investment in capital assets such as land, buildings, infrastructure, and machinery and equipment. This amount at the end of 2015 was $51M or 77% of total net position. These capital assets are used to provide services to the community and, as a result, they are not available for future spending. An additional portion of the City’s net position is subject to external restrictions as to how the funds may be used, such as street and grant funds. At the end of 2015, the City’s restricted net position totaled $6M or 16% of the total net position of the City. As a result of the implementation of the new accounting standard, GASB 68, the City’s unrestricted net position at the end of 2015 was a deficit balance of $12M. 6 City of Jacksonville Summary Statement of Net Position December 31, 2015 and 2014 Net Position Governmental Activities Business-type Activities Total 2015 2014 2015 2014 2015 2014 Current assets $ 7,737,967 $ 7,530,311 $ 1,887,825 $ 1,824,787 $ 9,625,792 $ 9,355,098 Noncurrent assets 3,968,223 393,386 - - 3,968,223 393,386 Capital assets 49,238,976 50,431,628 1,583,417 1,465,190 50,822,393 51,896,819 Total assets 60,945,166 58,355,325 3,471,242 3,289,977 64,416,408 61,645,303 Deferred outflows of resources 1,772,866 569,337 222,703 - 1,995,569 569,337 Total deferred outflows 1,772,866 569,337 222,703 - 1,995,569 569,337 Total Assets and Deferred Outflows 62,718,032 58,924,662 3,693,945 3,289,977 66,411,977 62,214,639 2,142,601 3,424,444 352,540 432,611 2,495,141 3,857,055 Current Liabilities Long-term liabilities outstanding 23,662,863 8,131,289 1,042,707 193,692 24,705,570 8,324,981 Other liabilities - - - - - - Total liabilities 25,805,464 11,555,733 1,395,247 626,303 27,200,711 12,182,036 Deferred inflows of resources 525,177 - 60,155 - 585,332 - Total Liabilities and Deferred Inflows 26,330,641 11,555,733 1,455,402 626,303 27,786,043 12,182,036 Net Position: Net investment in capital assets 43,120,490 42,843,428 1,366,575 989,853 44,487,065 43,833,282 Restricted 6,086,120 1,831,423 - - 6,086,120 1,831,423 Unrestricted (12,819,219) 2,694,078 871,967 1,673,821 (11,947,253) 4,367,899 Total Net Position $ 36,387,390 $ 47,368,930 $ 2,238,542 $ 2,663,674 $ 38,625,934 $ 50,032,604  The second of the government-wide financial statements is the Statement of Activities. This statement is comparable to an income statement for a private business enterprise.  The Statement of Activities presents information showing revenues and expenses on a full accrual basis and how the City’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave)  The Statement of Activities indicates total revenues of the City increased in 2015 over 2014. 2015 revenues were $27.4M compared to $26.7M in 2014, an increase of about $744,000 or 2.8%. Total expenses decreased to $25.7M in 2015 from $25.8M in 2014 or about 3-tenths of one percent. Overall, revenues exceeded expenditures by $1.7M in 2015, resulting in an increase in net position for 2015 before transfers and the change in accounting principle. 7 City of Jacksonville Summary Statement of Change in Net Position December 31, 2015 and 2014 Change in Net Position Governmental Activities Business-type Activities Total 2015 2014 2015 2014 2015 2014 Revenues Program revenues: Charges for services $ 2,521,170 $ 2,448,522 $ 3,431,652 $ 3,235,114 $ 5,952,822 $ 5,683,636 Operating grants and contributions 4,145,981 4,598,762 12,460 - 4,158,441 4,598,762 Capital grants and contributions 933,951 211,790 - - 933,951 211,790 General revenues: Property taxes 845,840 838,864 - - 845,840 838,864 Sales taxes 13,798,792 13,406,409 - - 13,798,792 13,406,409 Franchise taxes 1,262,049 1,137,932 - - 1,262,049 1,137,932 Investment earnings 15,644 5,059 993 908 16,637 5,967 Intergovernmental revenues 454,419 470,303 - - 454,419 470,303 Gain/(loss) on sales of capital assets (69,038) - 74,831 - 5,793 - Other - 331,187 - - - 331,187 Total revenues 23,908,809 23,448,828 3,519,937 3,236,022 27,428,746 26,684,850 Expenses General government 2,913,629 2,954,075 - - 2,913,629 2,954,075 Public works 2,832,455 2,247,748 - - 2,832,455 2,247,748 Parks and recreation services 3,547,411 3,381,026 - - 3,547,411 3,381,026 Public safety 12,391,619 13,360,106 - - 12,391,619 13,360,106 Housing and neighborhood programs 200,669 239,470 - - 200,669 239,470 Debt issuance costs 145,014 - - - 145,014 - Agent fees on long-term debt 33,833 - - - 33,833 - Interest on long-term debt 209,386 224,750 - - 209,386 224,750 Sanitation services - - 1,459,139 1,522,422 1,459,139 1,522,422 Emergency medical services - - 2,005,367 1,876,427 2,005,367 1,876,427 Total expenses 22,274,017 22,407,175 3,464,506 3,398,849 25,738,523 25,806,024 Change in net position before transfers 1,634,792 1,041,653 55,431 (162,827) 1,690,223 878,826 Transfers (425,000) (459,677) 425,000 459,677 - - Change in net position 1,209,792 581,976 480,431 296,850 1,690,223 878,826 Net Position, Beginning of Year, as previously r 47,368,930 46,786,954 2,663,674 2,366,824 50,032,604 49,153,778 Adjustment applicable to prior years - - - - - - Change in accounting principle (12,191,329) - (905,563) - (13,096,892) - Net Position, Beginning of Year, as restated 35,177,601 46,786,954 1,758,111 2,366,824 36,935,712 49,153,778 Net Position - December 31 $ 36,387,390 $ 47,368,930 $ 2,238,542 $ 2,663,674 $ 38,625,934 $ 50,032,604 8  CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M.  Narrowing the focus to the group of funds referred to the “governmental funds”, these funds include all funds with the exception of the pension trust funds, and the enterprise funds (Sanitation and EMS). Governmental funds are reported on the modified accrual basis of accounting, which combines accrual-basis accounting with cash-basis accounts. Under this method, revenues are recognized when they become available and measurable, generally within 60 days after year-end.  The City’s governmental funds reported total 2015 revenues of $23.9M and total expenditures of $28.6M. Net position of these funds decreased $4.7M during the year.  Sales tax revenues which account for 58% of all City revenues were $13.8M in 2015, compared to $13.4M in 2014, an increase of just under 3% from 2014 sales tax revenue. State tax turnbacks and other intergovernmental revenues, such as grants, were $4.6M in 2015 or approximately 19% of revenues; utility franchise taxes were $1.3M or 5% of total revenues. City of Jacksonville Comparative Statement of Revenues and Expenditures-Governmental Funds Percent Percent of Change 2013 2014 2015 Total Prior Year Revenues $ 782,292 $ 802,438 $ 833,835 3.5 % 3.9 % Property taxes Sales taxes13,164,04113,406,40913,798,79257.82.9 Licenses and permits123,447133,586136,2740.62.0 Intergovernmental4,674,6674,729,4644,575,83519.2(3.2) Charges for services1,081,3031,119,1871,150,9334.82.8 Fines and fees798,456840,609651,6262.7(22.5) Utility franchise taxes1,292,6671,137,9321,262,0495.310.9 Investment income7,0265,05915,6440.1209.2 Miscellaneous917,159932,5271,437,3126.054.1 Total revenues $ 22,841,058 $ 23,107,211 $ 23,862,300 100.00 % 1.2 % Expenditures General government$ 3,491,811$ 2,906,919$ 2,708,24811.3 %(6.8) % Public works3,021,0752,528,7782,802,71511.710.8 Parks and recreation5,514,7303,025,8103,292,34513.88.8 Police8,096,6597,149,0037,347,24230.82.8 Fire4,486,2264,324,4974,472,70118.73.4 Emergency communications878,086714,945675,7582.8(5.5) Animal control322,848305,998287,6371.2(6.0) Housing and neighborhood programs559,482238,824202,0670.8(15.4) Debt service1,580,6572,031,6626,784,31428.4233.9 Total expenditures $ 27,951,574 $ 23,226,436 $ 28,573,027 119.74 % (16.9) % 6 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M.  The City’s General Fund finished 2015 with a fund balance of $1,877,000 which was a decrease of $559,000 from the December 31, 2014 fund balance. General Fund revenues of $20,820,000 were $590,000 over budgeted revenues for the year, while General Fund expenditures of $20,804,000 were $346,000 under budgeted expenditures for 2015. 2015 General Fund Operations Final Variance Budgeted Actual with Final Amounts Amounts Budget Revenues$ 20,229,529$ 20,819,926$ 590,397 Expenditures 20,457,218 20,803,511 (346,293) Revenues in excess of expenditures (227,689) 16,415 244,104 Other financing sources (uses) Transfers-in: (From Other Funds) - - Transfers-out (200,000) (575,000) (375,000) Total other financing sources (uses) (200,000) (575,000) (375,000) Net change in fund $ (427,689)(558,585)$ (130,896) balances Fund balances, January 1 2,435,403 Fund balances, December 31 $ 1,876,818 7 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M.  As a measure of the General Fund’s liquidity, it is useful to compare total General Fund fund balance to total General Fund expenditures. The fund balance of $1,877,000 at December 31, 2015 represents approximately 9.0% of 2015 actual General Fund expenditures and approximately 8.9% of 2016 General Fund budgeted expenditures. As a general policy, the City’s minimum target at the end of a fiscal year for the fund balance of the General Fund is 60 days (16%) expenditures based on the most recent completed year. At the end of 2015, the balance on hand was approximately 32 days of 2016 budgeted General Fund expenditures. This minimum level of fund balance is required to ensure funds availability for unforeseen emergencies that might impact the City’s ability to pay for basic operations and also to guarantee the payment of debt obligations. General Fund Ending Fund Balance as a Percent of Next Year’s General Fund Budgeted Expenditures General Fund Fund Balance % of Budgeted end of Budgeted Year Expenditures Previous Year Expenditures 2007 $ 15,265,213 $ 3,168,7620.8% 8 2008 17,516,497 3,672,742 21.0% 2009 18,888,911 3,552,714 18.8% 2010 18,663,794 3,571,855 19.1% 2011 17,853,061 3,456,369 19.4% 2012 19,190,962 5,404,555 28.2% 2013 20,677,929 4,639,312 22.4% 2014 22,011,653 3,219,851 14.6% 2015 20,657,218 2,435,404 11.8% 2016 21,059,443 1,876,818 8.9% 8 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. $25,000,000 $22,011,653 $20,000,000 $20,657,218 $21,059,443 $20,677,929 $19,190,962 $18,663,794 $17,853,061 $18,888,911 $17,516,497 $15,000,000 $15,265,213 $10,000,000 $5,000,000 28.2% 22.4% 19.1% 20.8% 21.0% 18.8% 19.4% 14.6% 11.8% 8.9% $‐ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 GF Fund Balance % Budgeted Expenditures Conclusion In conclusion, I encourage you to read the Management’s Discussion and Analysis included in the financial section and beginning on page 14, and also the notes to financial statements which begin on page 47. The MD&A analyzes the City’s financial performance for the year, provides comparisons of the current year results to the prior year, and discusses both the positive and negative aspects of the comparison. The notes to the financial statements provide required detailed disclosures and descriptions of the financial statements. The preparation of this report would not have been possible without the dedication and committed services of key staff in the City’s Finance Department under the leadership of Finance Director Cheryl Erkel. I would like to express our appreciation to all City staff who assisted us in the audit and whose efforts resulted in a timely and successful completion of this year’s report. Finally, we want to express our appreciation once again to the City and the Council for allowing us the opportunity to serve as the City’s auditors. We very much value our business relationship with the City of Jacksonville. APPOINTMENTS: ANNOUNCMENTS: 9 CITY OF JACKSONVILLE REGULAR CITY COUNCIL MEETING NOVEMBER 3, 2016 7:00 P.M. – 7:33 P.M. ADJOURNMENT: Without objection, Mayor Fletcher adjourned the meeting at approximately 7:33 p.m. MOTION CARRIED. Respectfully, ________________________ _________________________ Susan L. Davitt MAYOR GARY FLETCHER City Clerk-Treasurer 10