By Anne Thom

Stacy City Accountant Amy Joslin addressed the city council Aug. 8 on matters pertaining to the Stacy Bar and Grill and Stacy Wine and Spirits. Wine and Spirits manager Brian Hachey accompanied her.

Hachey said business at the off-sale location has been ìfantastic.î Sales are booming at Stacy Wine and Spirits and he forecasts $1 million in sales will be reached by October and $1.5 million in 2007.

However, there are currently cash flow issues, Joslin stated.

She said several large bills, not unfamiliar to any business owner, were coming due at once: payroll, payroll taxes and Minnesota State Sales Tax.

Joslin also has paid out a $21,000 bond issuance fee, a one time charge. A second major bill on the bar, the payment of $35,000 on the bond, is not due until February 2007. There was some discussion by the council on how these large bills coming due at the same time would be covered.

City Clerk Sharon Payne said there is $119,000 in the general fund but she didnít recommend tapping into that as she needs it available to pay other city expenses.

Payne said she also isnít sure that legally the city could take money from the general fund to pay these bills.

She suggested the city look for a temporary source of funding through the cityís financial advisor Todd Hagen.

A budget meeting was held Aug. 15 where the matter was to be discussed.

Meanwhile, Joslin said she is holding some checks, including the tax payments, which are not due for several more weeks in anticipation of a steady to moderate stream of revenue from the bar.