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June 10, 2014

City Council to address cash flow

DUNCAN — Duncan City Manager Jim Frieda is scheduled to ask the City Council this evening to transfer $750,000 from the Enterprise Fund to the city’s Master Account to head off any cash flow issues that arise due to declining revenues, he said Monday.

    The Enterprise Fund monies are not restricted and can be used for just about anything related to operations and maintenance of the city, Frieda said.

     “I just want it to insure I don’t run into any kind of problem,” he said.

The first four months of the year historically are a low revenue period for the city and this year has been no different.

       The city already has used $922,000 in capital improvement project funds to pay operation expenses, including payroll expenses.

     Capital improvement funds are restricted not intended to pay for city operating expenses,  but a legal opinion was secured to clear the path for the transfer so long as the restricted funds were replaced.

        The city moved $922,000 from invested reserve funds in late April to cover the Capital Improvements Project funds transfer.

     City Treasurer Patti Clift, who also served as the city’s financial director, resigned last  month and so far has been been replaced, though Frieda said he has interviewed two candidates.

      He also plans to advertise for the position. Clift and Frieda have both declined to discuss the reasons for her resignation.

      Water revenues for the city have declined markedly during the ongoing drought and the subsequent water rationing invoked by the city.

     Frieda said recent rains increased the water levels at Lake Humphreys and Fuqua Lake, two of the city’s four reservoirs.   

     Frieda said Humphreys is now 50 percent full while Fuqua is 43 percent full.

     The water level in Waurika Lake, Duncan's main source of drinking water, was 38.37 percent full on Monday, a slight improvement from preceding days but still below the 40 percent threshhold that can trigger stricter water rationing measures should city officials decide  to further restrict water usage.


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Should the date for The World's Largest Garage Sale be changed from the third weekend in July to sometime in October to take advantage of cooler weather like we had this past weekend?

No. It's better in the summer cause kids are out of school.
Yes. More shoppers would come during nice fall weather.
Either time is fine.

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