Loading...
HomeMy WebLinkAboutBudget/Finance Committee Minutes 11.18.2008MINUTES BUDGET/FINANCE COMMITTEE NOVEMBER 18, 2008 5:30 P.M. COUNCIL CONFERENCE ROOM MEMBERS PRESENT: Chairman Mark Mace Kate Hart Mayor Ken Olson Doug Poehls OTHERS PRESENT: Bill Sheridan Mary Embleton Chairman Mark Mace called the regular meeting of the Budget/Finance Committee to order at 5:36 p.m. There was no public in attendance. The minutes of the November 4, 2008 meeting were presented and approved via motion by Kate, seconded by Doug, and passed unanimously. The auditors were reviewing June Corrections Journal Vouchers #758-759, and the Year- end Adjusting Journal Vouchers #YEA800-YEA804. October Journal Vouchers #817- 822 have been reviewed and approved by the mayor. Utility Billing adjustments for October 2008 were also reviewed. Mary reported that the entries were all typical. All documents were approved via motion by Doug, seconded by Kate, and passed unanimously. The October 2008 Financial Statements were reviewed by the committee. Mary stated that the General Fund is at 30% with 33% of the year expired. The General Fund is over $482,000 into reserves. Mary also reviewed the negative cash figures and explained that the revenues had not been received yet to offset the expenses. Overall, the city spent reserves totaling over $305,000. Discussion followed. Motion by Kate, seconded by Doug, to recommend approval of the October Financial Statements to the council. Motion passed unanimously. The following purchase requisitions were reviewed: GENERAL FUND: Special Assessments on city-owned properties $17,705.00 WATER FUND: 2 tapping sleeves for new hydrants on S. I" Ave. $ 1,719.96 SOLID WASTE FUND: 48 new 100-gallon refuse cans - collection $ 5,424.00 Discussion was held regarding properties around the school. Mayor Olson asked if Montana and Colorado Avenues between 71h and 8th, and West 9'h St. between I" Ave. and Pennsylvania have been vacated. Bill will review. Bill also reviewed a proposal from Alpine Plumbing and Heating for the FAP hot water heater replacement. A small service contract will follow. The requisitions were approved via motion by Doug, seconded by Kate, and passed unanimously. Budget/Finance Committee November 18, 2008 Page 3 The committee reviewed the Comp/OT reports for PPE 11/2/08. The Payroll Register for PPE 11/2/08 totaling $154,996.22 was reviewed by the committee. Mary pointed out that this amount is higher than normal due to the pay-out for Mike Zuhoski. Motion by Kate, seconded by Doug, to recommend council approval of the payroll register. Motion passed unanimously. Clerk/Treasurer's Comments: Audit - Mary reported that the auditors are here, and things are going well. Administrative Cost Allocation - Mary stated that the auditors reviewed the draft. Mayor Olson stated he discussed this with Brent Olness today, and the auditors will discuss it with Bill tomorrow. The rental concept is new to Laurel, but Lewistown already does this. Mayor Olson is hopeful that this will satisfy the auditor's comment. Mayor's Comments: TIFD update - Mayor Olson stated that the city will end up with approximately $211,000 in revenue for this fund. Approximately $110,000 will pay back this year's loan from water and sewer, which leaves about $100,000 for other TIFD projects. The city needs to consider setting up a Storm Water Maintenance District to pay this loan back and free up the revenues for projects other than storm water, and to entice new businesses. Some discussion followed regarding the district: it would be similar to the Street Maintenance district, and different rates would be established for residential and commercial properties. Mary also reported on the meeting that she and Bill had with the Department of Revenue regarding the TIFD taxable valuation. After review, the DOR found some errors resulting in a new gain of $65,000 in taxable valuation. However, this will be offset by a decrease in railroad valuation by the Centrally Assessed Division, and those figures have not yet been determined. Staff will contact Helena to ask questions of the Centrally Assessed Division. Purchase and Procurement Polic - Mayor Olson reported that Sam, Bill, and Mary met today to finish the changes. It will be presented at the next council workshop. Chief Administrative Officer Comments: Impact Fees Feasibility Study update - Bill asked the clerk/treasurer to get the additional information to Carson Bise so he can finish the study. Storm Water Project & S. ls` Ave. overlay u ate - Bill stated this project is progressing well and should be done in early December. There were no new problems. West Main Sidewalk SID & overlay - Bill reported that Kurt is working on easements on 3 properties owned by 2 people for the sidewalks. The city will send the information to the MDT. Wastewater Plant Up=de relimin en ineerin r rt - Bill told the committee that Morrison Maierle will have a presentation at the next council workshop. The presentation will inform the council on the issues of the main lines under the railroad and the interstate. The city will need to make priorities. The administration will be asking the engineers to Budget/Finance Committee November 18, 2008 Page 3 work harder on this project. Mark asked about contacting Sleutten Construction in Great Falls, as they did the boring under the railroad tracks at the Moore Lane crossing in Billings. Other - Bill presented a second estimate for installing storm water inlets to correct the ground water problem at West Maryland and 13th St. He would like to get this done this fall before freezing and to help save the streets. Mayor Olson pointed out that this water should be going into the storm water system, and not the sanitary sewer system. The owners of the properties should help pay for it. Mary suggested that the Street Maintenance District can pay for it now. Should the council decide to form a Storm Water Maintenance District in the near future, it could pay back the Street Maintenance fund. The committee consented to allow this to go forward. The next regular Budget/Finance meeting will be Tuesday, December 2nd at 5:30 p.m. The meeting adjourned at 6:26 p.m. Respectfully Submitted, Mary K. mbleton City Clerk/Treasurer