HomeMy WebLinkAboutBudget/Finance Committee Minutes 04.19.2005 MINUTES
BUDGET/FINANCE COMMITTEE
APRIL 19, 2005 5:00 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
Chairman Mark Mace
Kate Stevenson
Gay Easton
Doug Poehls
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 April 5, 2005 Budget/Finance regular meeting were approved as
presented, via motion by Kate, seconded by Doug, and passed unanimously.
March Journal Vouchers g443-448 were reviewed by the mayor. Utility Billing
adjustments for March 2005 were reviewed by the committee and approved.
The March 2005 Financial Statements were reviewed by the committee. Mary stated that
most areas were normal for this time of year. Mary explained that the transfer of cash from
water and sewer to streets ($177,000+) for the Alder Ave. project has been done. She also
reviewed the negative cash balances in Fund #2862, 2942, and 4001. Motion by Doug,
seconded by Kate, to recommend approval of the financial statements to council. Motion
passed unanimously.
The following purchase requisition was presented for approval:
CAPITAL PROJECTS FUND:
Purchase new mower for cemetery
$ 8,779.98
The committee reviewed the Comp/OT reports for PPE 4/10/05.
The Payroll Register for PPE 4/10/05 totaling $121,023.18 was reviewed by the committee.
Motion by Gay, seconded by Doug to recommend council approval of the register. Motion
passed unanimously.
Mary reported there was no progress on the Accounting Policies and Procedures.
Mary updated the committee on the following projects: Park Maintenance District -the
new playground equipment will be put out to bid soon, with a target date of June 7th for
council approval of the bid. SID #111 - the bond will be put out for bids next spring. The
water and sewer lines are scheduled to be put in this summer/fall. Mary explained the bond
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April 19, 2005
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counsel's concerns of pledging street maintenance money to sell revenue bonds
in order to get an SRF loan. Typically, an SRF loan is backed by revenue bonds that are
backed by water/sewer revenues. The engineers have been asked to rework the costs to
include some street work that is allowable for the replacement of the lines. The
remainder of the streets, curbs and gutters will need to be funded some other way, and
Nathan is working on this. The work for the streets, curbs, gutters, and sidewalks will be
scheduled for next spring/summer. Solid Waste Rate Increase - Mary explained that
the change in the ordinance removes the commercial rates from ordinance. It takes 30
days to take effect, after passage of the new ordinance. Therefore, the new commercial
rates, set by resolution, need to be brought forward to coordinate with that 30-day
effective date, so there is no lapse in time. The new commercial rotes need to go through
the process of a resolution of intent to increase the rates, followed by a public hearing,
and then formal adoption of the resolution for the new rates.
The Budget Calendar was reviewed. The preliminary budget is scheduled to be
presented to council on May 18th at a special council workshop. Nathan will be here next
week (April 27th) to work with Mary on any revisions, etc.
Mary will distribute copies of the draft audit report to the committee. She asked the
committee to focus on the last 3 pages of the audit, or the "findings". Mark asked how
many findings were implemented from the last audit. Mary stated that there were 12
findings last year: 7 were implemented, 3 were partially implemented, and 2 were not
implemented. She further explained that the findings were suggestions to improve
operations and to better comply with accounting practices. The city has always had a
non-qualified opinion, meaning a "clean" audit. Mary also explained that she is working
with the auditor to come to an understanding of how to depreciate the General Fixed
Assets. Once that is done, the MD&A can be completed, and the final audit can be
issued.
Mary told the committee that a letter of support was sent to the Local Government Center
for the NSF Web Site Development Grant. The LGC will forward the letter along with
the application. We should know in about 6 months if the grant is awarded.
Under Other issues, Mary informed the committee that she has been working on figures
for union negotiations. Other discussion included the preliminary insurance premiums
rates for workers comp (approx. 2% increase), liability (approx. 5% increase), property
(approx. 6½ % increase), and health (approx. 7% increase); legislative issues; elected
officials workshop May 4-6 (Kate and Mark might go); upcoming elections - April 29th
is the first date for filing; Garvee Bonds - HB 451 (contact Mae Nan for more
information.); street funding and the need for possible legislation changes to get loans;
and the need to get the CIP program back on track.
The next regular Budget/Finance meeting will be held on Tuesday, May 3ra at 5:00 p.m.
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April 19, 2005
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For Next Agenda: Accounting Policies and Procedures; Upcoming Projects: Park
Maintenance District, SID #111, Solid Waste Rate Increase; and Web Site Development.
The meeting adjourned at 5:50 p.m.
Respectfully Submitted,
Clerk/Treasurer