TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Approval of the September 9 2024, Commission Budget Workshop Meeting Minutes with recommended changes.
Recommended Action
Approval of the September 9 2024, Commission Budget Workshop Meeting Minutes with recommended changes.
Background Information
The draft minutes were submitted for Commission review on September 10, 2024. Commissioner McDowell provided suggested changes on September 16, 2024, regarding:
CONSENSUS:
" Incorrect: Commission questions and discussion took place regarding credit rating factors, debt affordability measures, revenue fund cap applied to debt services, interfund borrowing, management policy usage, target debt per capita target, surtax, revenue usage, metric usage, fiduciary responsibility, city metrics comparison, default examples, company history, current debt, credit debt verses debt allowance, long term financing, taxable value, individual district’s debt debt affordability measurements, payment calculation, guidelines, annual reporting, citizen input, potential lenders, amending debt management policy, debt service payments, deal approval process, direction requested, and timeline.
The recommendation was determined accurate by the City Clerk and changes were made accordingly.
Strategic Plan
Good Governance
Financial Impact
N/A
Procurement
N/A
Attachments:
1. Draft Minutes
2. Amended Draft Minutes
3. Correspondence
Prepared by: Micheal Bodmer, Board Specialist II
Department Director: Heather Faust, MMC, City Clerk