Austin's Growth, Tax, and Investment Strategies
- City officials reviewed a new draft investment policy aimed at protecting public funds from financial risks and ensuring compliance with state regulations.
- Discussions focused on a strategic plan for 1988-89, outlining areas proposed for city annexation and future expansion.
- Leaders examined financial issues including the impact of a Travis County appraisal error on the property tax base and awaited the Christmas sales tax report.
Full Transcript
IN FOUNDED 1024 Austin City Council MINUTES For SPECIAL CALLED MEETING CARVER LIBRARY - - CITY COUNCIL RETREAT JANUARY 30, 1988 Council Chambers, 307 West Second Street, Austin, Texas - 9:00 Α.Μ. Memorandum To: : Mayor Cooksey called the meeting to order at 9:50 A.M., noting the absence of Councilmember Humphrey, Councilmember Shipman, Councilmember Nofziger, and Mayor Pro Tem Trevino. Mayor Pro Tem Trevino then arrived at 10:27 Α.Μ. DISCUSSION Acting City Manager, John Ware, presented an overview of Policy Agenda/Critical issues which were adopted at the May, 1987 Council Retreat and discussed the status of the Policy Objectives adopted by Council in November, 1987. An outline of this status report is on file in the City Clerk's Office. RECESS Council recessed at 12:15 P.M. for lunch and resumed their recessed meeting at 1:36 Ρ.Μ. INVESTMENT POLICY DRAFT PRESENTED Virginia Rutledge, Director of Finance, presented the Investment Policy Draft. Ms. Rutledge noted that the policy would protect the City from credit or market risk and would be managed in a manner responsive to the public trust and consistent with state and local law. A copy of the Investment Policy Draft is on file in the City Clerk's Office. ΑΝΝΕΧΑΤION DISCUSSED Karen Walz, Division Manager for Comprehensive Planning, Planning and Growth Management Department, presented the 1988-89 Strategic Annexation Program, noting that the areas proposed for annexation consideration in 1988 and 1989 are consistent with the policies and criteria promulgated in the Draft Annexation Policy Plan. A copy of the 1988-89 Strategic Annexation Program, presented by Ms. Walz, is on file in the City Clerk's Office. Council Memo January 30, 1988 i FINANCIAL ISSUES DISCUSSED Assistant City Manager, Gary Hunt, discussed the Property Tax Base Revision and the implications of the Travis County Appraisal District error. Mr. Hunt added that the sales tax report on the Christmas season would be in by the end of the following week. ADJOURNMENT Council adjourned the meeting at 3:39 P.Μ.