Council Approves Draw Down

Members of the Monticello City Council agreed to withdraw $250,000 from the Municipal Electric Trust Fund to be able to become current on all bills and complete this fiscal year in the black.

The action was taken at a called meeting Tuesday evening when Monticello City Manager Bob Schwartz reviewed cash flow issues and overall finances with council members. He had previously covered most of the material individually with council members.

They have been actively working on the 2010 budget, and were aware of the city’s financial condition.

The group will meet again for its regular work session next Monday. Mayor Glenn Newsome, Mayor Pro-tem Russell Gross, and Councilors Katherine Alexander, Mollie Pompey, and Bryan Standifer were in agreement on Tuesday’s action, although the mayor did not vote. Councilman Bobby Jacobs was not in attendance.

Council members expressed concern about having to use that money, but agreed it is the best option. They are prepared to make major budget cuts in the 2010 budget which will be discussed in detail next Monday.

Before taking the action, the council voted unanimously that a majority vote of the board is needed to access that account.

After discussing the finances, Councilor Alexander raised concerns about the Downtown Development Authority. Apparently the DDA is behind on utility bills and other payments. Council plans to hear from DDA next Monday.