Current Financial Situation of Polk City

Following up on a request made during the City Meeting held on September 21st, 2010, a city resident contacted Pamela Lawson the city's Finance Administrator to get the remaining account balances following the large payment for $348,779.34 to Polk County on the Mt. Olive Utility System.  Ms. Lawson informed him that he would have to formally present his request.

He did as requested and this is the information he received:  Please click or double click to enlarge or print.

This statement clearly shows the 9/20/2010 transfers of $100,000 from the Impact Fees Account, $46,772.34 from the Water Fund, and $114,000 transfer from the General Fund, and the Total Debit of $348,779.34 out of the Sewer Fund for the check presented to the County for the payment on the Mt. Olive Utility System.

The balance of the these accounts on 9/21, after the transfers and the check was cut were: Sewer Fund $4,878.71,  Impact Fee Fund $289.10, Water Fund $10,221.31, General Fund $20,842.73.  This does not reflect the monies that were in float at the time these balances are reported.

This report also reflects the utility payments received to date, since the due date on the utility payments is September 25th,  and the offices are closed on Friday and the weekend, September 24th-26th.

Since these monies when collected are earmarked for specific purposes and the City of Polk City Muncipality Code Section 2-112 states:

Sec. 2-112.  Appropriations.

(a)   The tentative annual budget shall be submitted to the town council on or before the 65th day prior to the start of a new fiscal year.

(b)   The appropriation ordinance shall state in clear and precise terms that the budget is adopted by reference and is made a part of the ordinance, and that the amounts therein are appropriated for the purposes and accounts indicated.

(c)   The total of appropriations (proposed expenditures) shall not exceed the total of estimated revenues and other funds made available.

(d)   At any time during the fiscal year, the town manager may transfer all or any part of an unexpended appropriation balance from one account to another account or to several accounts within the same fund.

(Code 1991, § 17-5; Ord. No. 2001-03, § 5, 3-6-2001)

What are the City's plans to repay the appropriate funds the monies that were all transferred into the Sewer Fund to make this payment to the County?