HomeMy WebLinkAboutBudget/Finance Committee Minutes 11.06.2007 CITY OF LAUREL
BUDGET/FInANCE COMMITTEE MINUTES
NOVEMBER 6, 2007 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
OTHERS PRESENT:
Chairman Mark Mace
Gay Easton
Mayor Ken Olson
Kate Hart
Doug Poehls
Mary Embleton
The Budget/Finance Committee meeting was called to order at 5:33 p.ra., by Chairman
Mark Mace. There was no public in attendance.
The minutes of the October 16, 2007 meeting were reviewed and approved via motion
by Doug, seconded by Kate, and passed unanimously.
October claims totaling $152,839.65 were reviewed. Motion by Kate, seconded by
Doug, to recommend approval of the claims by the council. Motion passed unanimously.
The following purchase requisitions were approved by the committee:
GENERAL FUND:
Ad for Director of Public Works (split w/various) - clerk/treas
BUILDING CODE ENFORCEMENT FUND:
Ad for Building Code Enforcement position (new)
STREET MAINTENANCE FUND:
Ad for Director of Public Works (split w/various)
GAS TAX FUND:
Ad for Director of Public Works (split w/various)
WATER FUND:
400 Ft. water line for Sheets Subdivision - system
Ad for Director of Public Works (split w/various) - system
SEWER FUND:
Ad for Director of Public Works (split w/various)
SOLID WASTE FUND:
Ad for Director of Public Works (split w/various)
$ 670.00
$ 1,757.60
$ 362.00
$ 362.00
$ 3,200.00
$ 362.00
$ 362.00
$ 362.00
Budget/Finance Committee
November 6, 2007
The Comp/OT reports were reviewed for pay period ending 10/21/07. These reports
included the Columbus Day holiday. Doug questioned the overtime for a water turn-on.
The Payroll Registers for PPE 10/21/07 totaling $139,945.89 and for payroll
adjustments on 10/31/07 totaling -$2,486.20 were reviewed. Mary explained that the
second register was for employee contributions for health insurance that were refunded to
the three employees who resigned in October. Motion by Doug, seconded by Kate, to
recommend council approval of the payroll registers. Motion passed unanimously.
Clerk/Treasurer Comments:
Audit prenaratious - Mary finally heard back fi.om the auditors, and they have
rescheduled the audit for the week of January 14-18. Mary will hegin working on year-
end adjustments, and has asked Norm Klein for some of his time to assist. She had also
requested assistance f~om the auditors, but has not heard their reply. She will follow up.
There has been no work done on the 10-year cash flows. It was suggested to move that to
"Future Meetings". Investments r~view - Mary stated that while she was preparing the
quarterly report, she noticed that some of the city's investments were earning very low
rates of interest. Discussion followed. Mary recommended the following: Keep
$100,000 in each of the three financial institutions the monies are currently in, but
transfer them to a better investment medium, such as CD's; move approximately
$992,000 fi.om the checking account at Yellowstone Bank to the city's STIP account with
Montana Board of Investments. Motion by Kate, seconded by Doug to approve the
recommendations. Motion passed unanimously.
Mayor's Comments:
Ongoing Projects: Mayor Oison stated that MDT has scheduled the work for 2009 for
both overlays involving West Main SI__D_D end Storm water project. This will give staff
more time to do the necessary prep work for these projects. 8t~ Ave. oroieetJGARVEE -
there is no news on this project.
Imnact fees: Carson BISe will be here on November 14th to meet with department heads
to begin the fact-findings for thc feas~ility study. Mayor Oison stated that his
understanding was that thc city would be given a "cafeteria-style" listing of options that
the city can pick and choose which will be in the city's best interest.
Urban renewal/TIF District: Mayor Olson reported that the Urban Renewal Plan needs to
be finished and reviewed by the City/County Planning Board, and a special meeting for
them is scheduled for Thursday night.
CIP: Mayor Oison stated that there is funding available through the General and
Enterprise funds to commit to the $20,000 proposal from Miral Gmra:adt. He further
stated that he recot~ut~ended that the committee proceed end recommend this to the
council and put the proposal on the November 13~' council workshop. Motion by Kate,
seconded by Doug to proceed with the proposal. During discussion, the mayor stated that
this CIP will identify the funding sources as well as prioritize the capital needs for the
city. The timing is right as the city is considering other funding sources to help deal with
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Budget/Finance Committee
November 6, 2007
growth issues. The clcrk/treasurcr echoed the mayor's statements and reiterated Mr.
Gamradt's credentials as the best in the business. Motion passed unanimously.
Other issues: Doug mentioned the quiet zone ordinance recently passed by the city of
Forsyth. He questioned if Railroad Street is an urban route, and if so, does the MDT have
any obligation for providing railroad crossing arms? This is a safety concern as traffic
will increase along these mutes as the city grows.
The next regular meetin~ will be on Tuesday, November 20t~ at 5:30 p.m.
For next agenda: move 10-year cash flows and the West Main and Storm Water project
overlays to Future Meetings.
The meeting adjourned at 6:02 p.m.
Respectfully Submitted,
Clerk/Treasurer
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