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HomeMy WebLinkAboutBudget/Finance Committee Minutes 01.15.2008 MINUTES BUDGET/FINANCE COMMITTEE JANUARY 15, 2008 5:30 P.M. COUNCIL CONFERENCE ROOM MEMBERS PRESENT: Chairman Mark Mace Doug Poehls Mayor Ken Olson Kate Hart Gay Eeston OTHERS PRESENT: Mary Embleton Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to order at 5:33 p.m. There wes no public in attendance. The minutes of the January 2, 2008 Budget/Finance regular meeting were presented and approved via motion by Kate, seconded by Doug, and pessed unanimously. December Journal Vouchers g723-727 were reviewed and approved by the mayor. Utility Billing adjustments for December 2007 were reviewed by the committee. The documents were approved via motion by Doug, seconded by Kate, and passed unanimously. The December 2007 Financial Statements were reviewed by the committee. Mary stated that the cash balances reflect the tax collections received in December, and that the Comprehensive Insurance Fund cesh balance will be made whole by the end of the fiscal year. The Ambulance cesh balance in the Capital Projects Fund will be made positive when the Intercap Loan is in place. She will be completing the application during the next few weeks. The Mid-Year Budget Review will be presented to the council at the January 29th workshop. This report will go into more detail regarding the key funds within the city. Motion by Kate, seconded by Doug, to recommend approval of the December Financial Statements to the council. Motion pessed unanimously. There were no purchase requisitions presented for approval The committee reviewed the Comp/OT reports for PPE 12/31/07. These reports reflected the Christmas holiday overtime. The Payroll Register for PPE 12/31/07 totaling $158,550.87 wes reviewed by the committee. The total reflects the pay for the firemen for December, es well as the holiday overtime pay. Motion by Doug, seconded by Kate, to recommend council approval of the payroll register. Motion pessed unanimously. Clerk/Treasurer's Comments: Audit ~re~arations - The auditors are here this week, and have raised procedural questions regarding the Laurel Airport Authority and the Laurel City/County Planning funds. Investigation will be done es to the city's fiscal responsibility to these entities, es well es how the city, airport authority, and county should coordinate resources. Resolution to transfer Riverside Park revenues to CIP - There wes nothing to report on this issue. Budget/Finanr, e CommiO. ee January 15, 2008 ~Mary reported that the budget worksheets were distributed to the department heads on January 7 . The worksheets are due back to her for data input on February 15th. The initial figures will be distributed to the committee on March 14t~. A meeting with Chairman Mark Mace, Mayor Ken Olsorb and Clerk/Treasurer Mary Embleton is scheduled for March 19~, and for the following Wednesday evenings to review and discuss the budget requests. Doug asked when the preliminary budget is due, and was told it is scheduled for submittal to council on July 8t~. It was suggested that the council be informed of the process earlier than July. Discussion followed regarding whether there was interest by the council to be mom involved in the budget process. Mayor Olson stated that the quarterly budget report is scheduled for April 29~, and perhaps this could be tied to a 2008-09 budget process discussion. Mayor's comments: In~act Fees - The city received the draft report fi.om Tischler Bise, which was distributed to the committee members. The mayor asked that this be discussed at the next meeting. It references a 5-year CIP, which is in process. The draft report will be sent to Miral Gamradt. Mayor Olson also stated that he will be attending the Mayor's Academy at the end of the month, and will take a copy of our budget and financial packet as examples. ClP vro~ress - Miral Gamradt will be here next Tuesday at 1:00 to meet with the mayor, clerk/treasurer, and public works director. The mayor stated that he will report back to the committee at the next meeting, and asked the committee for questions and invited them to attend. Urban renewal - TIF District - Mayor Oison stated that there has been no response fi.om the DOR to date, and as far as we know, everything is on track. Mary reported that she also sent copies of these documents to Alec Hansen oftha Montana League of Cities and Towns, and to Bruce McCandless in Billings for their review. Alec Hansen will forward them to his contact in Butte, who is very knowledgeable on this issue. Other- Mary stated that the Intercap loan application for funding $60,000 for the new ambulance is being prepared. The application also allows for the application for funding the loan for the new fire water tend~ truck, but the amount the c~y is requesting ,ha~s not yet been determined. Mary also stated that a meeting has been scheduled for Friday, January 18 with representatives from USDA Rural Development regarding the proposed new fire hall. She will also ask the reps about possible federal funding for 8 Ave. The next regular Budget/Finance meeting will be held on Tuesday, February 5th, 2008 at 5:30 p.m. For next agenda: Same as this one, revising the Audit preparations to Audit recap. The meeting adjourned at 6:07 p.m. Respectfully Submitted, Clerk/Treasurer 2