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HomeMy WebLinkAboutBudget/Finance Committee Minutes 09.18.2012 MINUTES BUDGET/FINANCE COMMITTEE SEPTEMBER 18, 2012 5:30 P.M. COUNCIL CONFERENCE ROOM MEMBERS PRESENT: Mark Mace Doug Poehls Tom Nelson OTHERS PRESENT: Shirley Ewan Mayor Olson Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to order at 5:30 p.m. There was no one from the public present. The minutes of the September 4, 2012 meeting were presented and approved via motion by Doug, seconded by Tom, and passed unanimously. The Utility Billing adjustments were reviewed by the Committee. Shirley noted that there were no unusual adjustments. The Mayor has reviewed and approved the August journal voucher. Shirley noted that the cash reconciliation was passed out to the Committee this evening as cash was off by $82.90. staff spent more than 3 hours looking for it. Shirley hopes that the error will be corrected in next month's reconciliation, thus the reason for the late report to the Committee. Tom made a motion to approve the Utility Billing adjustments and the August journal voucher, seconded by Doug. All in favor, motion passed. The August financial statements were reviewed by the Committee. Shirley went through the financial report stating that she has also graphed where the City stood at this same time last year. Shirley explained the differences and stated that overall the City has spent less this fiscal year than the same period of time in the last fiscal year and most revenues are higher than they were at this time last year. The Water and Sewer Funds both have higher revenues due to the increase in charges and the fact that more water has been used this year than last year because of the lack of rain One half of the TIF payment has been made to the Sewer Fund. Mark inquired as to why the Sewer Fund only has $700,000 in cash. Shirley stated that is the operating cash in the Sewer Fund and total cash in that fund is $2.1 million. Operating cash is used for the day -to -day expenditures. Motion was made by Tom to approve the financial statements, seconded by Tom. Motion passed. There were no purchase requisitions presented to the Committee. The Comp /OT reports for PPE 9/2/12 was reviewed by the Committee. There were no questions or comments. The Payroll Register for PPE 9/2/12 totaling $169,948.68 was reviewed by the Committee. Motion was made by Doug, seconded by Tom, to recommend Council's approval of the payroll register. Motion passed unanimously. Clerk/Treasurer's Comments: Shirley informed the Committee about the denial from Intercap for SID #114. According to Louise at Intercap, they have a policy that they will not loan to SID's unless the property owners are more 1 Budget/Finance Committee September 18„ 2012 diversified and not just one owner owns the majority of the properties. Shirley stated that, if the Council wishes to go through with the project, they will need to look to a private source of funding or borrow within the City funds. A decision has to be made prior to October 1 so the maintenance district for SID can be cancelled if the City desires to cancel the project. The Mayor stated that he would like to see this continue as it has been on the back burner long enough. Shirley informed the Committee about a phone compliance review to be scheduled with the IRS. The Mayor stated that he would like Heidi to attend that phone conference. The meeting has not been scheduled as Shirley just found about this, but she will try to have it scheduled around Heidi's schedule. Mayor's Comments: FEMA Follow -up The Mayor stated that FEMA has requested some further information from Great West in regards to modules. FEMA concerns are in regards to the boat ramp and where Great West went in the river last week. The Mayor stated that there is a 4 '/2 -5 ft drop off where the river has removed the shale and it will need to be filled in with at least 5 ft in diameter rock to raise the level of the river back to where it was. The Mayor will be conferencing with FEMA again next Monday at 2:00 p.m. Chad from Great West, feels that the City is getting close to resolve with FEMA. Mark inquired as to why the DEQ was at the river. The Mayor is not sure but he thinks it had to do with the scour that has been showing up on the banks of the river. There is a lot of broken shale showing up. Other: The Mayor, Heidi and Monica will be presenting an annexation presentation to the Council on October 23, 20121. The Mayor would like the Council to consider a budget process meeting this fall. He feels that although the budget went fairly smooth this year, the Council needs to be aware of how the budget process proceeds and how the budget is determined. He will be requesting that the Council consider the City's priorities and then develop a plan to see those priorities followed through. After priorities are set, the Mayor would like the Budget/Finance Committee to help with the follow through. Mark stated that this would be a good idea as there are new Council members that have no idea how the budget proceeds. Mark would like to see an outside presenter, i.e. Ken Weaver, come in and present the budget process to the Council. The Mayor will follow -up on finding someone to lead the discussion. For the Next Agenda: Nothing new has been requested. The next regular Budget/Finance meeting will be on Monday, October 2, 2012, at 5:30 p.m. The meeting adjourned at 6:25 p.m. Respectfully submitted, d 4 _ '_ Lc < < cam Shirley Ewan, City Clerk/Treasurer 2