Mayor Pro Tem and Finance Committee Chairman Loretta Lipsey began the meeting with a financial report. She said the city received its annual Gross Insurance Premium Tax recently, and it was in the amount of $163,000. That was good news because the anticipated amount was $109,000.
She said the General Fund has a balance of $996,620. The collection of 2011 taxes totaled $872,663 so far, which is 95.4 percent of the digest. That leaves only $41,464 to be collected.
The chairman said the 2012 tax digest was adjusted to $874,506, and $141,410 has been collected so far this year. City property taxes are due Dec. 31.
“The city is doing good. Expenses are going to be less than what we budgeted,” she added.
Lipsey noted that, if the council planned to give city employees bonuses this year, it needed to be on December’s agenda. It was agreed the amount of the bonuses would be calculated with the same formula as last year, using employees’ time of service.
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