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HomeMy WebLinkAboutBudget/Finance Committee Minutes 12.19.2006 MINUTES BUDGET/FINANCE COMMITTEE DECEMBER 19, 2006 5:30 P.M. COUNCIL CONFERENCE ROOM MEMBERS PRESENT: Chairman Mark Mace Kate Hart Gay Easton (5:45) Doug Poehls Mayor Ken Olson OTHERS PRESENT: Mary Embleton Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to order at 5:35 p.m. There was no public in attendance. The minutes of the December 5, 2006 Budget/Finance regular meeting were approved as presented, via motion by Doug, seconded by Kate, and passed unanimously. November Journal Vouchers #622-625 were reviewed and approved by the mayor. This is the first month showing the increase in capital reserves for water and sewer. Utility Billing adjustments for November 2006 were reviewed by the committee. It shows some of the parcels that were turned over for tax collections. Both were approved via motion by Kate, seconded by Doug, and passed unanimously. Mary didn't have any Year-end Adjusting entries ready at this time. The November 2006 Financial Statements were reviewed by the committee. Mary stated that the General Fund is over $500,000 into reserves which looks bleak, but is typical for this time of year. The city received the county tax collections check yesterday, and it was for over $840,000. Most other funds' revenues and expenses appear to be within acceptable parameters with 41% of the year expired. The following funds showed negative cash balances: Comp Insurance - this will be the last month it is negative; Street Maintenance- is nearly $150,000 short; CTEP - a draw needs to be prepared. The last two funds are tied to the East First Street project. Motion by Doug, seconded by Kate to recommend approval of the October Financial Statements to the council Motion passed unanimously. There were no purchase requisitions presented for approval. The committee reviewed the Comp/OT reports for PPE 12/3/06. All departments reported this pay period, which included the Thanksgiving holiday. The PayroB Register for PPE 12/3/06 totaling $161,178.00 were reviewed by the committee. Mary explained that the total is higher than normal due to the comp time payout. Motion by Doug, seconded by Kate to recommend council approval of the payroll registers' amounts. Motion passed unanimously. Clerk/Treasurer's Comments: Mary told the committee that she is frustrated by the year-end progress: there have been too many interruptions, and the county figures don't even match each other. She has informed the auditors that there have been no year-end entries done so far, and will send the Trial Balance to them anyway. Budget/Finance Comralttec Dec~mber 19, 2006 Administrative Assistant to the Mayor comments: East First Street - Perry toll the committee this project is finished. The stop sign will be moved, and the city still has 3 trees at the nursery. They will stay there until spring. Main Street Water Line Replacement - Perry stated that the project is finished and they are working on the punchlist. Perry reported that the trenches have been filled and patched. Some paving and repairs to a curb valve need to be addressed. Final payment will be made after the punchlist is co~rq01eted. There have been only a few complaints about the inconvenience of this project. Sewer Trunk Line Renlacement - Perry reported that this project is moving along. He discussed the issue with the error by Morrison Malerle regarding the depth oftbe ditch crossing. Perry had previously reported that the city woulln't have to pay for it, and that the engineering firm would pay for the mistake. However, Morrison Maierle argues that the cost would have been the same if the issue bad been included in the original bid, and therefore the city should pay. Mayor Oison stated that the city will no longer issue any more task ordcrs to this company, and that the city will be going RFP for engineering services. More discussion on the change order issue followed. Perry and Ken will do more research before bringing it 8th Avenue Proieet - The meeting was held last week with Bill Kennedy, Larry, Steve, Gay, Ken, Perry, Bruce Barrett, and Mary. Perry said they reviewed the funding, scheduling, etc., and that he came away with a pretty grim feeling. Mary stated that Sandy Stachl of MDT Planning called and will set up a conference call with Urban Funding. She further stated that she came away fi.om the meeting with a positive outlook, mad that this project can be done. Mayor Olson reported that Bill Kennedy is a good ally, and stated that this could be let in 2007. The city and state will need to work with Dorsey and Whitney on bonding issues, and a history of the funding was requested from DOT. CIP - Perry told the committee that he has broken down the requests for capital into 3 catagories: Land & Buildings, Technology, and Other Equipment. He is working with Bart Haskell on a 5-year plan for technology. The equipment rating is done. The mayor will review the list, and will meet with Perry end Mary on how to fund thc requests. The mayor would like to take his recommendations to the council in 30 days. Imeact Fees - Perry bad nothing new to report. Mark is doing research. Mayor Comments: Cable TV Franchise - Mark M~.~e distributed an article from the Gazette, and the committee will review this item and discuss it next week. The next regular Budget/Finance meeting will be held on Tuesday, January 2, 2007 at 5:30 p.m. The next agenda will remove the East 1~t St. Project, and add GARVEE bonds. The meetin~ adjourned at 6:20 p.n~ Respectfully Submitted, Mary~K. ~mbleton Clerk/Treasurer 2