City Council, staff brainstorm budget priorities
Marysville plans to conduct a sewage rate study
They talked about everything financial: bond financing and refinancing, sewage rates, financial modeling and a general fund reserve policy.
In a special study session Tuesday night, Marysville City Council members and staff brainstormed ways to effectively structure the city budget moving forward.
“We need to forget about the past and use it as a learning experience to move forward,” said Councilman Bill Simmons.
The session featured presentations from consultants in each area of concern outlining key information that the council plans to use to make financial decisions moving forward.
“The Council is interested in refinancing older bonds,” said Marti Brown, Marysville city manager. “The current lower interest rates will save the city money now.”
Bud Levine, financial advisor with Hansen & Co., discussed how refinancing various city bonds –
TODAY EVENTS
The Acting Company production of “9 to 5 The Musical” directed by Betsy Johnson, choreographed by Stephenie Rodwell and music direction by Jim Achilles. 7:30 p.m. at The Acting Company, 815 B St., Yuba City.
presented by the beginning drama program at the Marysville Charter Academy for the Arts 7 p.m. at the Marysville Youth and Civic Center, 1830 B St., Marysville. Tickets cost $5-$10. including the wastewater treatment bond and the B Street property bond – could lower monthly payments for the city.
“We are looking for options to refinance some of the city’s existing debts and save some money,” said Mayor Ricky Samayoa.
The city plans to conduct a sewage rate study to determine their fair share of costs to operate the Linda County Wastewater Treatment Plant, as well as costs associated with the maintenance and improvements of the current pipelines.
“This has been long overdue,” said Brown. “It has been seven or eight years since the last one was done.”
Samayoa said the public will soon have the opportunity to give their input about where they would like the city to allocate money for repairs, maintenance and improvements of current pipelines as the cost could increase city sewage rates.
City staff has been working with a fiscal consultant to figure out the best way to establish reserve policies and create a financial forecasting model. Marysville councilman City manager of Marysville Mayor of Marysville
Art Everywhere Galleries. Brick Coffee House, 316 D St., Marysville; Jonathan Beth, Justin’s Kitchen 628 Plumas St., Yuba City; Chris Efstratis, Ting’s Refuge, 1501 Butte
“The city of Marysville has struggled financially in the past,” said Brown. “We need to be well prepared for economic downtimes and not deal with crisis as it arises.”
The City Council plans to use the financial forecasting model to maintain financial stability and to create future budgets. The financial forecasting model will also help the City Council allocate funding effectively.
One of the biggest priorities for council members is creating a general reserve fund.
“We do have an agreement among council members that it is a good idea to put money away in case of an economic downturn,” said Samayoa.
Samayoa said the council will further their efforts to structure Marysville’s finances in a special goal setting meeting in the near future.
“This is a plan to work toward,” said Simmons. “There is a lot of work that needs to be done and it is not going to happen overnight. The City Council is excited for this.”
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House Road, Yuba City; Mary Ann Nation, Yuba City, City Hall, 1201 Civic Center Blvd.; Dorothy Champion, Marysville, City Hall, 526 C St.; Karen Fulk, Adventist Orthopedics, 370 Del Norte Ave., Yuba City; Foothill Art Society, Adventist Lab, 414 G St., Marysville; Foothill Art Society, Yuba Sutter Arts.
CLUB MEETINGS
– Peachbowl Dawnbreakers meeting 6:30 a.m. at the Waffle Barn Restaurant, 590 Colusa Ave., Yuba City.