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City of Brentwood's Budget Reserve Less than Half of Brentwood Forest's

Ways and Means committee members are not happy with the city's small reserve.

The departments of the city of will soon be working out budgets for the upcoming year.

Alderwoman Maureen Saunders and others on the Ways and Means Committee at a meeting Tuesday night, discussed an aspect of the budget they're not happy with: the city has less than one month's expenses in reserve.

Saunders said the residents have been given the wrong impression over the years.

"My concern is that, the residents felt that we were swimming in money," she said. "Time after time people came to this podium and talked about money being spent  by the city. (They were told), 'No big deal. It’s insignificant,' and yet we only have a half a month's reserve."

Saunders told her constituents in an email that the general fund balance at the end of the year was $491,985, "which is only 4 percent of the operating expenses for the year, or less than one month's expenditures."

She said some surrounding cities have much more of a reserve than Brentwood, including Crestwood, which lost its mall, but has a year's worth of expenses in reserve.

Alderman Tom Kramer said the Brentwood Forest association has double the reserve of the city. Alderman Patrick Toohey, the "financial guru" of Brentwood Forest, according to Kramer, said its association has $1.4 million in reserve.

Kramer said for years he wanted to make more contributions to the city reserve, but was told the city has uncollected taxes, that if the city wanted to collect, could bring an enormous amount of money into the reserves. Also that the city doesn't bring those taxes in to keep the residents happy.

He said, therefore, he was told that the city is richer, even though the money isn't in the actual reserves.

Kramer said he would like the city to have formulas for contributions to the reserve that are based on reality and need, which are based on an inventory of the city's assets and needs.

City Administrator Bola Akande said the big picture is that there are ongoing expenses.

"Do we want to continue some of the projects going forward, or do we want to be status quo, so that any additional revenue that comes in, we start to set that aside to build our reserves," she said.

 

 

 

 

Ruth Sorrell September 05, 2012 at 02:54 PM
I think a better question to ask is why the City hasn't attempted to collect taxes that are due? If they are collectible, they should be collected. If they are not collectible, then they cannot be relied upon to bolster dwindling reserves.
Shanahan September 05, 2012 at 03:21 PM
Of coarse Bola has to throw in her two cents, ever since she came in, it's been a mess. Saunders is the only one who ever does anything, glad to have her.
Mr. Completely September 05, 2012 at 04:25 PM
"Kramer said for years he wanted to make more contributions to the city reserve, but was told the city has uncollected taxes, that if the city wanted to collect, could bring an enormous amount of money into the reserves. Also that the city doesn't bring those taxes in to keep the residents happy. He said, therefore, he was told that the city is richer, even though the money isn't in the actual reserves." This is an outrage! I'm not believing the Patch didn't follow up with some hard questions about this statement by Kramer. 1. Who told him this? 2. What date was he told this? 3. Why didn't he follow up by demanding full disclosure of what taxes and what amounts are due? IMO if this is true its illegal and probably the next scandal in Brentwood.
Doug Miner September 05, 2012 at 05:57 PM
Mr. Completely, Thanks very much for your comments and questions. I'm working on a response. Also, I'd like to take this opportunity to thank you for your enthusiastic participation in the Patch community on many issues. Doug
MR September 06, 2012 at 01:57 AM
I'm wondering how it is that Mayor Kelly has his name engraved on a building that was paid for with out tax dollars...and did we NEED that foutain??
MR September 06, 2012 at 01:58 AM
**our

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