HomeMy WebLinkAboutBudget/Finance Committee Minutes 03.01.2011 MINUTES
BUDGET/FINANCE COMMITTEE
March 1, 2011 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT: Kate Hart, Chairman Mark Mace, Co- Chairman
Chuck Dickerson Doug Poehls
OTHERS PRESENT: Shirley Ewan Mayor Kenneth Olson
Chairman Kate Hart called the regular meeting of the Budget/Finance Committee to order at 5:30
p.m. There was no public in attendance.
The minutes of the February 15, 2011 meeting were presented and approved via motion by Chuck,
seconded by Doug, and passed unanimously.
Doug made a motion to approve the claims, in the amount of $176,870.99, for Council consent; Mark
seconded the motion, all in favor, motion passed.
There were no purchase requisitions presented to the committee,
The Comp /OT reports for PPE 2/20/2011 were reviewed.
Doug would like to know why there was overtime at the reservoir in the water department. Shirley
stated that she will find out and report back at the next meeting.
The Payroll Register for PPE 2/20/11 totaling $155,261.64 was reviewed by the Committee.
Motion was made by Doug, seconded by Chuck to recommend council approval of the payroll
register. Motion passed.
Clerk/Treasurer's Comments:
GASB #54
Shirley briefly explained the changes in fund balance and financial reporting that will occur when
GASB 54 is initiated. The changes are mandatory by the end of this fiscal year.
Fund balances (cash, receivables, due from, and pre - paids) will now need to be designated as one of
the following types:
Non - spendable — assets that are not expected to be converted to cash soon
Restricted — balances subject to external enforceability — legal restrictions
Committed — Council puts constraints on funds.
Assigned — Intended to be used for a certain use.
Unassigned — Available for any purpose - deficit fund balances will always be unassigned.
All fund balances need to be assigned to one of the designated categories each fiscal year.
Budget Amendment for FAP Building and Fire/Library
Shirley presented the 2 budget amendments for the committee's review. The amendments allow the
City to move forward with the FAP building addition, allow the fire department to increase their
budget by $17,959 for clothing and increase the budget for the Library by $4,700. Doug made a
motion to approve the two budget amendments, Chuck seconded. Motion passed. The amendments
will be presented to the Council at the next workshop on March 8 2011.
1
Budget /Finance Committee
March 1, 2011
Request for Proposals and Qualifications for LURA Engineer /Architect
LURA has requested some assistance with their projects of facade improvements and technical
assistance. The request for proposals will be placed in the Laurel Outlook on March 9` & 16 and
The Billings Times on March 10 & 17 The amount available for the professional's assistance will
be limited to $10,000. The proposals will be due by March 29, 2011.
Audit Findings
Shirley presented the audit findings, along with the City's reply. The Management Discussion and
Analysis along with the City's reply to the findings will be sent to the Auditors to complete the audit.
Mayor's Comments:
TIFD Update:
The Mayor stated that Heidi Jensen, Planner, will be taking over Jame's position with the LURA
committee.
Shirley has forwarded the request for proposals for an architect/engineer to LURA for their approval.
Kate inquired as to whether LURA would consider developing a RV Park for campers with a water
and dump site in the downtown area. This would bring more people into that area. Chuck mentioned
that there is a spot next to ACE Hardware that could accommodate such a site. Kate stated that could
possibly be a good spot but it would not bring folks into the downtown area that needs the business.
Mark stated that a RV park north of the tracks would be a good idea, but it needs to be established in
the downtown area prior to the west end of Laurel developing, so it would have an anchor in the
community.
Other:
Nothing.
For next agenda:
The Mayor would like to discuss the Capital Improvement Program and how it will fit into next
year's budget.
The Mayor will also be bringing an update on the Police Union to the committee.
The next regular Budget/Finance meeting will be Tuesday, March 15 at 5:30 p.m.
The meeting adjourned at 6:12 p.m.
Respectfully submitted,
Y ic-c) Cuo
Shirley Ewan, Clerk/Treasurer
2