HomeMy WebLinkAboutBudget/Finance Committee Minutes 07.17.2007 MINUTES
BUDGET/FINANCE COMMITTEE
JULY 17, 2007 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
Co-chair Kate Hart
Gay Easton
Doug Poehls
Mayor Oison (5:40)
OTHERS PRESENT:
Mary Emblcton
Co-chair Kate Hart called the regular meeting of the Budget/Finance Committee to order at 5:30 p.m.
There was no public in attendance.
The minutes of the July 3, 2007 Budget/Finance regular meeting were presented and approved via motion
by Doug, seconded by Gay, and passed unanimously.
June Journal Vouchers #659-665 were reviewed by the committee. Mayor Olson reviewed most of
them yesterday. Mary stated that there arc entries for year-end that affect the budget, mainly revenues
and expenditures that were incurred but not received/paid. She was made aware of an additional General
Fund expenditure that will need to be booked in June, so there will be more June Journal Vouchers to
follow as year-end pmceases are wrapped up. Utility Billing adjustments for June 2007 were reviewed
by the committee. There were 19 or so "no-reads" during the last meter reading cycle, which is an
improvement. The documents were approved via motion by Doug, seconded by Gay, and passed
unanimously.
The June 2007 Financial Statements were reviewed by the committee. Mary stated that these statements
are pro-year-end closing, and are subject to minor chan4~es. General Fund expenditures, as well as several
other fund expenditures, were over 100% ofbndget which will require budget amendments. The Library Aid
Grant fund was also discussed, and will require amending. Mary explained that the budget amendment
process will include a public hearing, since tax-levied funds will be included in the amendments. Mary will
also prcmmt budget transfers at the July 31~t workshop. Motion by Doug, seconded by Gay, to recommend
approval ortho June Financial Statements to the council. Motion passed unanimously.
There were no purchase requisitions presented.
The committee reviewed and briefly discussed the Comp/OT reports for PPE 7/1/07.
The PayroU Register for PPE 7/1/07 totaling $160,149.35 was reviewed by the coai~tdttee. Mary stated that
this payroll was higher than most, duc to thc payout of the Public Utilities Director. Motion by Doug,
seconded by Gay, to recommend council approval of thc payroll register. Motion passed unanimously.
Clerk/Treasurer's Comments:
BUdget process - The mayor, city clerk/treasurer, and chairman of the Budget Finance Committee met on
Wednesday, July 11th, and reviewed the General Fund budget. There are still some decisions that need to be
made, based on the outcome of the last fiscal year's cash balance to carry over to the new year. The mill
value was also discussed at this meeting, as the estimate received from the Dept. of Revenuc was less tban
last year's value, and didn't include newly taxable property or all of the centrally assessed property. The
Budget/Filmace Committee
Suly 17, 2007
certified mill will be received on August 13~. Another meeting is scheduled for July 30t~. The Budget
Calendar will then be revised and distributed.
Mary also reported that there was nothing new regarding the audit preparations, and she will be contacting the
auditors to ask for an alternative date for the audit.
Mayor's eomments:
gaAYor Olson stated that all projects were the same as last meeting.
venue Project funding - The mayor stated that Dept. of Commerce Director Tony Preite gave the city
some contact numbers for the city to inquire about federal funding assistance for this project as gap
financing. The committee will be updated as soon as poss~le with news regarding this project.
Impact Fees - Mayor Olson has received information on impact fees and will have it distributed to the
committee as soon as possible. This is an important issue, and the city needs to pursue it.
Other - Mayor Olson was recently informed by the fire department that the water tender truck is out of
service, and needs to be repaired or replaced soon. The cost can range fi:om $60,000 to $100,000.
Kate asked about the status of the cable TV fi:anchise ordinance. Mayor Olson stated that the city
attorney will be meeting with the Cable Montana representatives next week, and will hopefully have
something ready for workshop on July 31 st.
The next re~l~r Budget/Finence meeting will be held on Tuesday, August 7th, 2007 at 5:30 p.m.
The next agenda: Move GARVEE bonds and Impact fees back up fi:om the "future" list.
The meeting adjourned at 6:00 p.m.
Respectfully Submitted,
Clerk/Treasurer
2