HomeMy WebLinkAboutBudget/Finance Committee Minutes 01.02.2008 CITY OF LAUREL
BUDGET/FINANCE COMMITTEE MINUTES
JANUARY 2, 2008 5:30 P.M.
COUNCIL CONFERENCE ROOM
MEMBERS PRESENT:
Chairman Mark Mace
Gay Easton
Doug Poehls
Mayor Ken Olson
OTHERS PRESENT:
Mary Embleton
The Budget/Finance Committee meeting was called to order at 5:30 p.m., by Chairman
Mark Mace. There was no public in attendance.
The minutes of the December 18, 2007 meeting were reviewed and approved via motion
by Doug, seconded by Gay, and passed unanimously.
December elalmatotaling $168,225.80 were reviewed. Motion by Doug, secondedby
Gay, to recommend approval of the claims by the council. Motion passed unanimously.
There were no purchase requisitions submitted.
The Comp/OT reports were reviewed for pay period ending 12/16/07.
The Payroll Register for PPE 12/16/07 totaling $132,856.98 was reviewed. Motion by
Doug, seconded by Gay, to recommend council approval of the payroll register. Motion
passed unanimously.
Clerk/Treasurer Comments:
Audit preparatious - Mary stated that the r~aainder of this week, and all of next week
will be primarily dedicated to audit preparations. The auditors will be here the week of
January 14~.
Riverside Park revenues transfer to CIP. Mary apologized for not having enough time to
get cost figures and do more research on options regarding this issue. Mayor O1son
stated that the audit is a priority and that he and the committee recognize the need to
focus on it. The Riverside Park revenue issue will be leR on the agenda, but will be
addressed after the audit is complete.
STIP investments - Doug asked if the money has been transferred to STIP, end Mary
confirmed that it has been done.
Budoet process - Mary and Mayor Olson met last Friday to develop a budget calendar
and a memo to department heeds to establish budgeting guidelines. After last year's
budget process, the goal was set to have the next budget passed by the 2nd council
meeting in August. The DOR releases the certified mills by the first Monday in August.
Doug asked if the TIF District would have an impact on this budget. Discussion
followed. The district will definitely have an impact on this year's budget, but the
Budgct/Fiaa~c,e Corn miRe, e
January 2. 2008
amount won't be determined by the DOR until they certify the mills in August. The
district is a separate line item on the certified mill levy form.
Mayor's Comments:
Impact fees: There has been no word on the feas~ility study progress. Mary will contact
Carson Bise for an update.
Urban reaewal/TIF District: The Department of Revanue replied to the city
clerk/treasurer's request for a list ofdocumants the DOR will need for review of our
Urban Renewal PlarffrlF District. Mary will send the documents tomorrow. Discussion
f~llowed regarding the length of time the district is in effect, which can be for up to 15
years.
CIP:. Mayor Oison stated that Miral Gamredt had set a deadline of December 31 for
department heeds to submit their capital requests. At today's department head meeting,
some in attendance were concerned about the deadline. The mayor instructed them to
contact Miral and request more time. The mayor and clerk/treasurer also discussed the
need for an administration building last Friday, and the need to include it in the CIP
process with Miral's assistance and advice. The mayor would than like to set up a task
force to det~tdne options and recommend a direction. Miral's financial analysis of the
city's finances will be critical to the CIP process. Mark asked hew the new Director of
Public Works is doing with the CIP. Discussion followed.
Other issues: Mayor Oison informed the committee that the clerk/treasurer will present
the Mid-year Budget Review at the January 29t~ workshop. It is required by state law
that the council be kept informed on the status of the budget and city finances on a
quarterly basis.
The next regular meeting will be on Tuesday, January 15th at 5:30 p.m.
For next agenda: same as this me~ing.
The meeting adjourned at 5:57 p.m.
Respectfully Submitted,
Clerk/Treasurer