The city of Lake Ozark took care of some year-end obligations Tuesday night since the final meeting of the year was cancelled because of the Christmas holiday.
Aldermen unanimously approved an $8.7 million budget for next year, authorized the city to deposit into its general fund sales tax revenue from Eagles' Landing and authorized an amendment to the 2013 budget.
The 2014 budget reflects a slight increase in expenses (less than 1 percent), and a slight decrease (1.3 percent) in revenues. Total revenues for 2014 are projected to be $9,116,687 compared to 2013 revenues of $9,237,581.
At year's end, cities often find it necessary to reallocate revenue based on actual receipts received during December, the final month of the fiscal year.
As a result, the board approved the second of two budget amendments for the year.
City Administrator Dave Van Dee said in his report to the board that the city ended 2013 with more income than expenses in every fund except the Neighborhood Improvement District (NID) fund. He said the NID consistently does not balance. Although the city is closing the gap through improved collections, Van Dee said it's doubtful the fund will ever balance.
"I'd like to acknowledge the hard work of the city staff and board in helping to achieve a positive year-end budget balance," Van Dee said in his report. "If everyone had not been committed to working together, the outcome could have been a negative one."
He noted that the city continues to protect and build reserve balances in every fund.
Aldermen approved a resolution allowing the city to capture Tax Increment Financing sales tax revenue as per its agreement with Menards in The Shoppes at Eagles' Landing.
The agreement with Menards allows the city to capture $100,000 from the capital improvement TIF sales tax fund starting in 2013, up from $50,000 in 2012. If there is a shortfall, the city can collect the general revenue TIF sales tax. Because there is a shortfall of $30,000, the city was able to pull the TIF sales tax revenue into its general fund.
In other business:
•The board approved an ordinance repealing a section of an agreement establishing the Eagles' Landing Community Improvement District (CID). Section 9 of the agreement set a four-month deadline from the time it was passed on April 23 to complete certain paperwork. The ordinance retroactively grants a time extension so the CID can be implemented.
•Authorized a partial payment of $64,763 to Apperson Utility Contracting, Inc., for work on the 10-inch water main extension.
•Authorized a partial payment of $7,875 to CB Engineering, Inc., for the design and feasibility study for a public works maintenance facility.
Page 2 of 2 - •Accepted a bid for 2013 audit services from Graves and Associates in the amount of $9,785. The city discussed the possibility of soliciting bids in the future for two-year contracts to provide consistency and efficiency between the city and the auditing company that receives the low bid.
•Approved a letter of intent to the Missouri Liquor Control on behalf of Ozark Bar-B-Que on the Strip, which will be located in the former Burnt Ends Bar 'N Grill building. Owners are Brent and Pamela Lanier, who also own Ozark Bar-B-Que in Sunrise Beach.