HomeMy WebLinkAboutBudget/Finance Committee Minutes 07.19.2004 MINUTES
BUDGET/FINANCE COMMITTEE
JULY 19, 2004 5:00 P.M.
COUNCIL CHAMBERS
MEMBERS PRESENT:
Chairman Mark Mace
Mayor Ken Olson
Gay Easton
Kate Stevenson (5:20)
OTHERS PRESENT:
Mary Embleton
Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to
order at 5:05 p.m.
There was no public in attendance.
The minutes of the July 6, 2004 Budget/Finance regular meeting were approved as
presented, via motion by Gay, seconded by Ken, and passed unanimously.
The revised June Claims Approval list was reviewed. Mary explained that an
overpayment to COP was discovered during the signing of the checks. The correction
requires a new claims list in the amoum of $532,147.09, which is $165.00 less than the
original June claims. The committee recommends approval to the council.
June Journal Vouchers/1367-374 were reviewed and approved by the mayor. Utility
Billing adjustments for June 2004 were reviewed by the committee and approved.
The June 2004 Financial Statements were reviewed by the committee. Mary explained that
the revenues in the General Fund came in higher than budgeted, and the expenditures were
lower than budgeted. This helps the ending cash position for the year, and affects the 2004-
05 budget by increasing the reserve. The report also includes revenues that were due to the
city, but have not been received in the month of June, as well as expenditures incurred in
June, but won't be paid until July. The committee recommends approval to the council. The
committee also recommended that the charts that usually accompanied the reports be
presented on a quarterly basis, rather than monthly.
There were no purchase requisitions.
The committee reviewed the Comp/OT reports for PPE 7/4/04. Discussion was held
regarding the amount of overtime worked during the July 4th holiday. The comparison
analysis for the police department will bc prepared soon to review the feasibility of the 8½
hour shifts.
The Payroll Register for PPE 7/4/04 totaling $131,806.27 was reviewed by the committee,
and they recommended council approval of the register.
Budget/Finance Committee
July 19, 2004
Page 2
The Budget Timeline is on track - the Final Budget is scheduled to be adopted tomorrow
night, with the exception of the resolution levying the mills. This will be scheduled in
August after the certified mills are received by the city. Mary has calculated the "Cash
Available as of June 30, 2004" based on the revenue and expenditure information
received to date. Nathan will review the figures with Mary tomorrow, and the new sheets
will be ready for approval at the council meeting.
The committee then discussed the purpose ora Mission Statement. A brief overall
statement for the city as a whole was discussed. A longer, more detailed statement can be
developed for the various boards and committees of the city. After lengthy discussion,
the committee will present the following statemem to the council at the next workshop:
"To provide economical delivery of quality services created and designed in response to
its citizens' collective basic needs."
Under Other issues, Mary reported that Sharon Pearson from Senator Bums' office
called to update the city on the progress on our request for federal appropriations. The
city's requests will be under the HUD appropriations, and September is the earliest that
there may be any results. Discussion followed. The city needs to emphasize the need for
a reservoir north of town, which will service growth, and the airport. The city also needs
to start a dialog with the state legislative candidates to promote the city's needs.
The next regular Budget/Finance meeting will be held on Monday, August 2"d at 5:00
p.m.
For Next Agenda: Budget Timeline, Year-and adjustments, Audit, Accounting Policies
and Procedures, and Budget/Finanee Committee Mission Statemem. The meeting
adjourned at 6:10 p.m.
Respectfully Submitted,
Clerk/Treasurer