Meeting June 16, 2014

 Money that is put into a specific fund cannot be used for any other purpose.  Money from the Motor Fuel Tax fund, for example, cannot be used for a project that would fall under the Tourism District Fund. The budget for the coming year is projected to have a $3 million deficit.  These funds, though, are being used on capital projects that the city has saved for over prior years.  So while the city’s revenues this year won’t cover all of the expenses, the city has set aside amounts in the past in anticipation for these projects.  The city prides itself in a ‘pay as you go’ mentality and this is part of that plan.  They are not going to issue bonds for these projects.  The money will be used to improve the city’s infrastructure, including continued sidewalk development and new police vehicles.