HomeMy WebLinkAboutBudget/Finance Committee Minutes 12.20.2005 MINUTES
BUDGET/FINANCE COMMITTEE
DECEMBER 20, 2005 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
Mark Mace
Kate Stevenson
Gay Easton
OTHERS PRESENT:
Mary Embleton
Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to
order at 5:31 p.m.
Th. ere was no publie in attendance.
The minutes of the December 6, 2005 Budget/Finance regular meeting were approved as
presented, via motion by Kate, seconded by Gay, and passed unanimously.
November Journal Vouchers #518-521, were reviewed by the mayor, and Year-end
Journal Voucher gYEAS07 was presented by Mary at the meeting. Utility Billing
adjustments for November 2005 were reviewed by the committee. Motion by Kate,
seconded by Gay to approve the journal vouchers and utility billing adjustments as
presented. Motion passed unanimously.
The November 2005 Financial Statements were reviewed by the committee. The General
Fund is $441,000 into reserves, which is typical for November, and is a good indication of
the minimum level of reserves that the city should consider when budgeting for next year.
With 41% of thc year expired, the General Fund expenditures are only at 39%, which is
acceptable. The remaining major funds are all under 41% of expenses. Motion by Kate,
seconded by Gay to recommend approval of the November Financial Statements to the
council. Motion passed unanimously.
The following purchase requisition was presented for approval:
WATER. SEWER. AND SOLID WASTE FUNDS:
Pressure washer - split 4 ways: water syst, curb box, sewer, and garbg. $ 4,320.00
The committee reviewed the Comp/OT reports for PPE 12/4/05. This report included
the Thanksgiving holiday.
The Payroll Registers for the retroactive pay increase for non-union employees totaling
$16,031.59 and for PPE 12/4/05 totaling $154,106.42, (which includes $22,696.75 in comp
time pay-out) were reviewed by the committee. Motion by Gay, seconded by Kate to
recommend council approval of thc payroll registers. Motion passed unanimously.
Budget/Finance Committee
December 20, 2005
Page 2.
Mary reported the deadline for completing the Accounting Policies and Procedures has
been set for February 1~t by the mayor. She will work with her staffto meet this deadline.
The committee was updated on the following projects: Park Maintenance District -
Perry told the committee that they have received the 5-year plan from Steve Klotz, Public
Works Director, for the district proposed at ½C/square foot with a cap of $200. In
consulting with the city attorney on how to proceed, it has been determined that the park
maintenance district must be separate fi, om the swimming pool general obligation bond
proposal SID #111/East First Street - preparations for the sale of the bonds need to
begin.
Web site development - Perry will meet with Bart Haskell of Technical Edge
Consulting tomorrow morning, and a presentation is tentatively schadulad for the
December 27~ workshop.
The 10-year Cash Flows will be updated and adjusted by Perry to have ready for the
January 24th Budget Study Session.
Other issues: Perry is working with Scott Atwood on the building/space issue for the
Ambulanc,et~ on the east side of the FAP building. A proposal is tentatively scheduled for the
January 10 workshop. Mary reported that the city received the first half tax payment check
of over $800,000 so she will prepare the Insurance Transfers resolution for the December
27th workshop.
The next regular Budget/Finance meeting will be held on Tuesday, January 3fa, 2006 at
5:30 p.m.
For Next Agenda: Accounting Policies and Procedures; Upcoming Projects: Park
Maintenance District, SID #111/East First Street project; Web site development, 10-year
Cash Flows.
The meeting adjourned at 5:50 p.m.
Respectfully Submitted,
Clerk/Treasurer