Finance Meeting Minutes for April 15, 2008
Finance Committee Minutes
Tuesday, April 15, 2008
Committee members present: Paul Berry, James Martell, Bruce Tedtsen, Ken Klawunder, Becky King
Committee members absent:
Others Present: Sandi Marchbanks, Kapryce Manchester, Diane Klawunder
Meeting started:
Meeting Agenda:
● Monday, April 14 meeting minutes read
● Prepare budget for council approval
● Discuss any non agenda items
The Meeting did not officially commence and the committee initially discussed the Library Committee budget. No minutes were read and Becky along with Ken decided this meeting would be a work session.
There was discussion regarding how to deal with encumbering committee funds and a tentative line item Encumbered Committee Funds was suggested.
The Library budget was reviewed and suggestions were made to remove unverifiable income and to cut some expenses. Sandi was satisfied with the results and said she would take this budget to the Library Committee for further revision.
The Finance Committee next reviewed the Marine Facilities Committee budget. Diane Klawunder was present to answer questions. Diane thought there was $3,400 left in current budget for long term storage. She said there would be a $650 one time visit charged to Professional Services which would include training for monthly inspection. The monthly inspection should take a maximum of 2 hours and may require funds to pay for part time help to accomplish this.
We need to look at what money is left in the Marine Facilities budget to see what can be used for current obligations and what can be encumbered for FY 2009 obligations. A tentative budget was developed for the Marine Facilities committee.
The Roads Committee budget was reviewed. Jim said he moved $10,000 from a line item in the submitted budget called Contingency to Road Maintenance. Because we do not know the intention of the Committee, this should be addressed to make certain we know where we can put the $10,000 in our current Chart of Accounts.
Ken made the point that we should have a committee representative present for future budget meetings so we can adequately make a determination regarding specific issues related to individual submitted budgets.
Finance Committee Meeting
Tuesday, April 15, 2008
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The Roads Committee had $250 budgeted for fuel and during the subsequent discussion it was determined this may not be enough for the MOU.
There was discussion regarding what funds are expended first in a committee budget if the committee is receiving both City funds and Federal funds. This discussion regarded the funds not spent by a committee and what to do with those funds at the end of the year. The City policy is to have the money go back to the General Fund unless those monies were earmarked for a specific purpose by the granting agency.
The GVFD budget was reviewed and Kapryce was not certain there was $20,000 available to be encumbered for FY 2009. Bruce thought the payroll taxes were too high.
The committee decided to have another meeting on Monday, April 21, 2008.
Meeting Adjourned at: 9:05 PM
Approved this _____ day of ________________________, _________
by _____________________________________________, committee member.
