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HomeMy WebLinkAboutBudget/Finance Committee Minutes 09.20.2005 MINUTES BUDGET/FINANCE COMMITTEE SEPTEMBER 20, 2005 5:00 P.M. COUNCIL CONFERENCE ROOM MEMBERS PRESENT: Chairman Mark Mace Kate Stevenson Mayor Ken Olson Gay Easton Doug Poehls OTHERS PRESENT: Mary Embleton Perry Asher Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to order at 5:03 p.m. There was no public in attendance. The minutes of the September 6, 2005 Budget/Finance regular meeting were approved as presented, via motion by Kate, seconded by Doug, and passed unanimously. August Journal Vouchers #505-509 were reviewed by the mayor. Utility Billing adjustments for August 2005 were reviewed by the committee. Both reports were approved as presented via motion by Kate, seconded by Doug, and passed unanimously. The August 2005 Financial Statements were reviewed by the committee. Discussion followed. The committee would like to see monthly cash transfers from the water, sewer, and street funds to the Special Project fund (g4001) for the East 1st Street project as it progresses. Motion by Doug, seconded by Gay to reconunend approval of the August Financial Statements to the council. Motion passed unanimously. The June 2005 Revised Financial Statements were reviewed by the committee. Mary explained that these should have been brought forward before now, but were overlooked last month when she was on vacation. These are now at year-and closing. Discussion followed regarding the accuracy of budgeting. Mayor Olson mentioned the use of"trends" cash flows fi'om a workshop he attended some years ago sponsored by the Local Government Center. He would like to bring this tool forward again. Perry would like to develop a model to assist and enhance the budgeting procedure to produce a more accurate budget. Mary mentioned that the "ideal" year end result would be for the revenues to be at 102% of budget, and expenditures be at 98% of budget. The committee recommends approval of the financial statements to council, via motion by Doug, seconded by Kate, and passed unanimously. This item will be put on the October 4~h council agenda. The following purchase requisitions were presented for approval: PLANNING FUND: Aerial photography of the city and adjacent land (split w/water & sewer) $ 800.00 WATER FUND: Repair pond pump - plant $1,740.78 Budget/Finance Committee September 20, 2005 Page 2. WATER FUND (cont.): Aerial photography of the city and adjacent land (split w/planning & sewer)$ 800.00 SEWER FUND: Aerial photography of the city and adjacent land (split w/planning & water)$ 800.00 The committee reviewed the Comp/OT reports for PPE 9/11/05. The police department overtime included hours for the Highway Safety (DUI) grant and the DEA grant, as well as holiday worked hours. The Payroll Register for PPE 9/11/05 totaling $129,516.08 was reviewed by the committee. Motion by Doug, seconded by Kate to recommend council approval of the register. Motion passed unanimously. Mary reported there was little progress on the Accounting Policies and Procedures. They will be worked on as time allows. Mary updated the committee on the following projects: Park Maintenance District -the timeline is posted in the council conference room. A mail ballot in May is being considered as a viable alternative to a typical election process. Percy is reviewing the Park Committee and will be working on this project. SID #111/East First Street - the SRF loan for $866,000 closed on Friday, and work began yesterday on the street. The status of the sewer main trunk line is not certain at this time. Since the irrigation season is winding down, the bidding and construction of this project can proceed at any time. Budget Amendments - The public hearing for the budget amendments is scheduled for October 44. The committee did not have any questions on the proposed amendments, and the issue will be put on the September 27* Workshop. Web Page Development - Mary and Perry have not met yet to begin working on this important project. The Local Govermnent Center was not successful in obtaining a grant, and the mayor will inform the council of this. However, the development will proceed without the help of the grant. 8th Ave. Project - sidewalks and street lights - This item will be moved to the "future" list to be addressed at a later time. Cable TV franchise - This item will also be moved to the "future" list. Mary will research the issue in order to provide Perry with some history on the subject. She recalled that about 3 years ago, the franchise was renewed for another 10 or 15 years. Discussion followed. Under Other issues, Mary stated that she will finish the State Budget Document tomorrow. It is due on October 1~t. She also told the committee that there was an issue Budget/Finance Committee September 20, 2005 Page 3. with a Later of Credit for a new subdivision. This is something new, and the city needs to consider establishing policy to address how this should be handled. Discussion followed, with the committee recognizing the advantages of establishing policies for the growth issues facing the city. Doug asked ifa volunteer firefighter can mn for elected office. Discussion followed, and research will be done for the benefit of the council. Doug also announced that the Local Government Review Study Commission will be sending out a survey to the public in the near future. Discussion followed. The next regular Budget/Finance meeting will be held on Tuesday, October 4th at 5:00 p.m. For Next Agenda: Accounting Policies and Procedures; Upcoming Projects: Park Maintenance District, SID #111/East First Street project; and CIP updates. The meeting adjourned at 6:00 p.m. Respectfully Submitted, Clerk/Treasurer