February 18, 2025 at 7:00 PM - Beatrice Regular City Council Meeting

Discussion:  Abby Dobson, Audit Director, FORVIS two items, financial statements.
Alisa ____, worked with City.

Abby - thank for allowing to present, kudos to Hannah little sooner than in past before time off
spent several weeks onsite, looking through invoices, testing - thank HB & team for preparing for audit & providing documentation throughout the weeks.
audit letter - road map - did issue clean, unmodified opinion, within didn't take exception, everyone wants
audit conducted ending 9/30/24. responsibility if they are materially correct & governmental auditing standards - also clean, unmodified opinion, no concerns with internal controls etc. no material non compliance of spending of city's federal funding
1 opinion for library, FORVIS does not audit, 
ted - why?  TT - have they are separate entity, 
city prepares full ACFR, as compared to other entities throughout the state that allows city to apply & have received the GFOA, is intended to be submitted for the 2024. big deal & provides additional
policies in note A of financial - accounting policies slide? no new accounting standards adopted this year, however, a number coming up
mangement judgment & accounting slide - listed 5 carry estimation, encourage & look at how those estimates are dirived
financial statement disclosures - library foundation & tax abatement & ___ ; 
journal entries - no auditor 
posted as uncorrected items - identified & discussed with management - no need to be posted within financial statements
other financial reporting matters- upcoming gas financial statements - 101 on compensated sick leave, etc., gas up to 104 - ensure appropriately adopted.  only one now.

Ted - has there been any?  HB - 2023 how report leases & IT software
Ted - no items questioned, but what would something like that look like?  Abby - looked at invoice not required, explained the process on appropriate handling.  TEd - does it happen frequently?  Abby - it can; HB - had one

Mayor - how many transactions?  magnatute of work they do, that number would speak volumes in running their financial & making sure we are in solid financial 

Ted - page v, lists all statistical sections, got to end didn't understand.  page 99-100, 2015 to 2024, expenditures have doubled & could spot airport.  page 105 - where assessed actual value is ; 109 - debt
TT - 99 & 100 - expenses have been at various; personnel changes, no real significant changes, just cost of running city & capital expenses HB - general government - economic development & CDBG run into that fund.
different departments, easy to track
page 105 - talks about property tax valuation over 10 year time frame, increased all set by county assessor's office; expansion/anexation, no significant most buildings have been tax exempt, come down from decade ago
page 112 - ratio bonds - shows all bonds on city side; 1st column property tax valuation, next column tax supported general obligation - $6.2 fire station is big one - next column 0 debt reserve funds - $3.5 mill ratios .38% fairly low comparing how much debt you have compared to ____________; .02 net bonded $287, Norfolk $854.84; not all municipalities have this info. fairly low...both comfortable to be at, not over __________ very little geo bonds at this time.  Ted - current on fire dept, where does that ?  TT - $2.6 million, sits in bank account, only callable at certain times, can't pay off

Mayor - article today - 24 or 25 when truck gets here see big bump, them not producing fire trucks quick enough windfall - finances, lot of important items that get caught up in a mess....TT - were going to issue PSD, but fire truck pushed off 1 year, wait on PSD to have closer to when fire truck will actually arrive.  Dana - if costs more, we will have to pay?  TT - yes

Mayor - ACFR is posted as part of transparency
 

Discussion:  postponed until March 3rd

Discussion:  TT - safe streets for all presentation, pushed back to 3/3 not coming from OMaha

Under Oath

Chet - no issues from zoning, also have another facility within same block  no negative effect in the area
Moss - nothing found on Lori that would prohibit issuance 
Lori -  has 3 other buisnesses
 

Discussion:  bpw issuing utility bonds this year.  passed reimbursement resolution, purchased water dept jet truck $500,000 & WPC has ordered jet truck $500,000 & Electric has approx $4 million in substation rebuild & feeder lines.  will all be paid with existing utility revenue bond.

take bond payments & split 80/10/10 they will pay off their debt - 10 year issuance

Discussion:  airport taxiway - kickoff meeting last week, march 24 start date, will redo taxiways, can drive from hangars to runway without making a turn, will correct that part of design, has been that way 
RCRP - playground grant, procurement & covenants, working with register of deeds & DED how they want them listed
thank you to essential police fire street, dispatch, garbage, all thankless jobs, water, wpc, landfill, many who have to operate in this weather, thank you to them

Eskra - SPP, anything new with cold weather?  TT - no, weather warning, 7 different issues, in middle, not to point asking anyone to reduce energy, etc. not asked for any conservation 
Eskra - price?  TT - cottonwood were high yesterday afternoon, but no outlandish as we saw couple years ago.  previously saw $2000 - no where near that

Ted - 4 legislative bills following, only 1 out of committee, are we collectively needing to take stand on?
TT - 117 - eliminate sales tax on electric sales, did on water, argument is cost city quarter million - general funds
179 - increase police officer retirement from 7 to 9% - rather significant number also out of general fund 
357 - eliminate equalization funds - first class cities - where fall on levy - if above state tax levy - we receive $1 mill - others receive $0 - but those who have low property taxes have sales tax - they want to 
526 - introduced on behalf of governor - 2.5 cent on - tax on they will likely shut down - came here cuz we were low costs for energy - would be significant tax for them - may see number get reduced to a number they could live with.  watching to see what is going on with them. can bring back here to take stand one way or another - we stay in contact with league

Hydo - sales tax on 526??
Eskra - significant users throughout the state, should have pushback correct?  TT - issue is not all city's have, depends upon where energy is, look at lower population.  lot of dataminers are doing AI etc. - 

Mayor - follow up - will see if we can wrap up march 17th strategic plan back...let know if not owrk.