HomeMy WebLinkAboutBudget/Finance Committee Minutes 02.21.2006 MENUTES
BUDGET/FINANCE COMMITTEE
FEBRUARY 21, 2006 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
Chairman Mark Mace
Doug Poehls
Ken Oison
Gay Easton
Kate Hart
OTHERS PRESENT:
Mary Embleton
Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to
order at 5:33 p.m. There was no public in attendance.
The minutes of the February 7, 2006 Budget/Finance regular meeting were approved as
presented, via motion by Doug, seconded by Kate, and passed unanimously.
January Journal Vouchers 0527-530 were reviewed by the mayor, and Mary reported
they are all typical entries. Utility Billing adjustments for January 2006 were
reviewed by the committee. Mary stated that one was for a payment that was lost in the
mail, the owner made a replacement payment, and the cheek finally showed up two
months later. The adjustment was to remove the "lost check" payment, and a journal
voucher was also necessary, since the check had a "stop payment" issued by the owner.
Motion by Kate, seconded by Doug to approve the journal vouchers and utility billing
adjustments as presented. Motion passed unanimously.
The January 2006 Financial Statements were reviewed by the committee. With 58% of
the year expired, the General Fund expenditures are at 54%, which is good, and the revenues
are at 54%. The remaining major funds are all under 58% of expenses. Motion by Kate,
seconded by Gay to recommend approval of the January Financial Statements to the council.
Motion passed unanimously.
The following purchase requisition was presented for approval:
GENERAL FUND:
1995 GMC Suburban to replace ACO unit - police dept.
$ 4,700.00
The committee reviewed the Comp/OT reports for PPE 2/12/06. The police
department's overtime was substantially less than it has been in the past several months.
The Payroll Register for PPE 2/12/06 totaling $130,709.80 was reviewed by the committee.
Motion by Doug, seconded by Kate to recommend council approval of the payroll register.
Motion passed unanimously.
Mary reported they will meet the deadline of March 1st for completing the Accounting
Policies and Procedures. She will have the draft to Perry by Friday, 2/24. They will then
put it in order for final submittaL Updates will need to be done periodically.
Budget/Finance Committee
February 21, 2006
Page 2.
The committee was updated on the following projects: Park Maintenance Distr~et - no
new information. SI]} #111/East First Street - the resolution calling for the sale of the
bonds for the sidewalk is on tonight's council agenda. Mary has contacted Yellowstone
Bank and the company in Bozeman, and both are still interested in bidding on the bonds.
Tho invitation to bid will be sent to all of the local banks, as well as advertised in the
Outlook and the Gazette.
Web site development - Perry received a quote from Zee Creative for $2,800 for
building the site, and $400/year to host it. He has also contacted 2 other companies, but
this one is the lowest. This company was recommended by Technical Edge, and will be
on the workshop for February 28t~. Mark suggested getting the word out to the public
about the web site. Discussion included using the "Notice" area on the water bills, using
the newest issue of the Voice, and cable TV's public Channel 9.
The 10-year Cash Flows will be moved back down to the "Future Meetings" list.
Intercap loans will be needed to help finance some of the city's projects. Mary submitted
an application today for $85,000 to complete the funding for the E-911 equipment. The total
bid recommended by staffis $245,773.90. Total state funding is $109,950.76 and the cash
reserves from the 9-1-1 fund will contrfoute $50,823.14. The state will try to have the
application processed in time for the March 7th meeting, where the resolution for the loan can
be on the same agenda as the acceptance of tho bid and the budget amendment resolutions.
The loan will be paid back by 9-1-1 revenues, which should total about $32,000/year, with
the debt service payments being roughly $18,000/yr. Interoap's rates were less than the
proposed lease program. Mary will hove more information ready for the workshop next
week. It is too early to apply for a loan for the paving portion of the East First Street project
as yet.
Other issues: Mary stated that she had most of tho departments' budgets turned in to her, but
hasn't begun inputting the data as yet. She still needs the council's, mayor's, and city
aRomey's budgets.
The next regular Budget/Finance meeting will be held on Tuesday, March 7t~, 2006 at
5:30 p.m.
The meeting adjourned at 5:54 p.m.
Respectfully Submitted,
Clerk/Treasurer