HomeMy WebLinkAboutBudget/Finance Committee Minutes 11.01.2004 MINUTES
BUDGET/FINANCE COMMITTEE
NOVEMBER 1, 2004 5:00 P.M.
COUNCIL CHAMBERS
MEMBERS PRESENT:
Chairman Mark Mace
Doug Poehls
Gay Easton
Mayor Ken Olson (5:15)
OTHERS PRESENT:
Mary Embleton
The Budget/Finance Committee meeting was called to order at 5:05 p.m., by Chairman
Mark Mace. There was no public in attendance.
The minutes of the October t9, 2004 regular meeting were approved via motion by
Doug, seconded by Gay, and passed unanimously.
October claims totaling $474,981.25 were reviewed. Motion by Doug, seconded by
Gay, to recommend approval by the council. Motion passed unanimously.
The following purchase requisitions were reviewed and approved:
GENERAL FUND:
New carpet for city hall remodel- General Fund building
(attached quote was for $9,110.04)
$10,000.00
STREET MAINTENANCE FUND:
34 ton Ice Slicer for sanding streets
40 ton cold patch for colder weather
$ 3,740.00
$ 3,600.00
WATER FUND:
Re-wire sed basin pumps - damaged by lightning - plant
$ 2,040.96
The Comp/OT reports were reviewed for pay period ending 10/24/04. Discussion was
held regarding holiday coverage for the police departmem and water plant.
The Payroll Register for PPE 10/24/04 totaling $99,240.77 was reviewed. Mary
explained that this total is lower than normal due to this payroll being the third payroll of
the month, and not all deductions and employer costs apply. Motion by Doug, seconded
by Gay, to recommend council approval. Motion passed tmanimously.
Investment Policy - Mary told the committee that she and the mayor have begun
reviewing the latest drain, and that Nathan has scm comments. A~er incorporating
Nathan's input, she will send a revised draft to the committee for their review as soon as
possible. The committee can then discuss it at the next meeting.
Budget/Finance Committee
November 1, 2004
Page 2.
Accounting Poficies and Procedures - No new progress has been made. Updates will
try to be completed before the auditors come, which is the third week in December.
GASB 34 update - Norm Klein will be here on November 8th to continue to assist Mary.
However, the MD&A (Management Discussion and Analysis) should be completed by
the adminiatration. Ken and Mary will begin work on this soon, and will bring more
information to the committee at the next meeting.
Upcoming Projects: Sewer rate increase - the public hearing is tomorrow night, with
council action to follow on 11/16. Park Maintenance District and SID gl 11 - time
tables distributed to committee members. Solid Waste rate increase - ordinance needs to
he changed first, then proceed with the rate increase.
Under other issues, Mayor Olson showed the committee a book that may assist in the
budgeting process. Mary was instructed to order 6 copies. Mary reported that the tax
statements arrived today, and the total for the city to pay is over $14,600. However, only
$7,000 was budgeted. The increase comes t~om the additional street maintenance
assessments which were not budgeted. A budget amendment will be presented at the
next meeting. Discussion followed regarding taxes. There was discussion also held
regarding city contracts, and that the city attorney has prepared a draft policy to address
procurement procedures, which was distributed at the department head meeting this
afternoon.
The next meeting will be on Tuesday, November 16th at 5:00 p.m. On the agenda will be:
the Budget Amendment - Special Assessments, Investment Policy, GASB 34 update,
Accounting Policies and Procedures, and Upcoming Projects.
The meeting adjourned at 5:45 p.m.
Respectfully Submitted,
eton
Clerk/Treasurer