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68 MINUTES OF THE SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, NOVEMBER 30, 1982 PRESENT: Mayor Emmie Craddock Council Members Karl W. Brown Gerald G. Farr John A. Kreczmer Elida A. Mendez Jaime Moore Tess Norris City Manager City Secretary City Attorney Director of Finance A. C. Gonzalez Janis K. Womack Barbara Jean Edwards Earl Williams Also Present: Jerri Martin, Charles Stone, C. Suckle, Wren Giesen, A. H. Dawson, James Ford, Mary Peveler, R. E. Peveler, Gayle Ross, Henry C. Kyle, Jackie Matthys, Eric Anderson, Ricky Dietert, Olga Garza, Zella Shaper, Tempe Lou Fuchs, Jeff Watkins, Ann Craddock, Jane Wilson, David Young and others. Mayor Craddock called the meeting to order at 7:30 p.m. Mayor Craddock opened a public hearing on the proposed property tax in- crease. No one wished to speak in favor of the proposed tax increase. Mayor Craddock asked if anyone wished to speak against the increase. Henry C. Kyle said he would like to ask some questions. He had re- viewed the budget and wanted to know if the $1.6 million "surplus" of the last fiscal year was considered in the budget, and stated that it should be. Finance Director Earl Williams said the auditors for the City would be here the first part of December and would be conducting an audit and making any adjustments that need to be made, and at that time we will know exactly what the fund balance is and that information will be made available to the public at that time. He stated the fund balance is not an excess of money, but instead is on deposit to back up the City when needed. It has been needed the first quarter of this fiscal year because we have not had the tax revenues to support the City because of the late tax roll. He also stated a good firm balance is needed to support any bond issue the City may propose. Mr. Kyle also asked in what manner the 8.33% calculation was made. Charles Stone, Tax Assessor for the City, stated the truth and taxation cal- culation establishes the effective tax rate at 60 cents and that a tax rate of 65 cents is 5 cents above the effective tax rate of 60 cents. Divide 5 cents by 60 cents to arrive at the 8.33% calculation. Mary Peveler asked what the fund balance of the previous year was, and Earl Williams replied when the audit is complete, the fund balance figure will be made public information. She also asked what period of time the City had a fund balance of at least $1 million, to which the City Manager replied the last fiscal year was the first time. James L. Ford stated he did not approve of the Council holding a meeting on December 3, 1982 at 5:00 p.m. for the setting of the tax rate. He thought it should be at a later time. He also asked with the tax statements being mailed so late would there be any extension of time past January 31 for payment. This is determined by state law. Augustin Lucio asked if a portion of the fund balance had been used to reduce the tax rate percentage to 8.33%, to which Mr. Williams re- plied some fund balance had been used for this purpose. No one else wished to speak in favor or against the proposed tax increase, so Mayor Craddock closed the public hearing.