Finance Meeting Minutes for February 12, 2008
Finance Committee Minutes
Tuesday February 12, 2008
Committee members present: Becky King, James Martell, Bruce Tedtsen, Paul Berry
Committee members absent: Ken Klawunder
Others Present: Sandi Marchbanks, Kapryce Manchester
Meeting started: 7:02 PM
Meeting Agenda:
● Minutes read
● Committee Operating Budgets
Agenda Item: Minutes read
Minutes for the February 11, 2008 were read.
Bruce moved to accept minutes as read.
Jim seconded the motion.
Motion Passed unanimously.
Agenda Item: Committee Operating Budgets
Lois Nixon delivered a letter to Finance Committee requesting the Clinic be a line item on the City Admin Budget. After discussion, the committee determined this request needs to go back to the City Council.
Sandi and Becky said revenue may be an issue this next fiscal year. There was discussion on how to proceed and the committee decided to budget for what we have now and not speculate on what the City may get at a future date.
The committee discussed the possibility of the City being audited and decided to encumber $5,000 for the next few years for audit expense purposes should the City be audited.
The committee discussed how to use the operating budget worksheet for Kumbaya purposes and decided the last 3 columns would be removed for the training session on February 23.
The committee discussed having Kapryce’s budget forms and the detail P&L for the training session February 23. Kapryce said she had emailed me the budget forms and she would have both the P&L detail and budget forms for the committees available at our meeting on February 19.
The committee discussed funding for the new special committee, the Borough committee, and also funding for the Finance committee and the Planning committee.
Finance Committee Meeting
Tuesday February 12, 2008
Page 2 of 3
There was discussion regarding the value of having both the Planning Committee and the Finance committee having monetary oversight for the budget. Bruce stated the Planning committee would not want oversight regarding the capital budget. So the committee decided to recommend to the Council the Planning committee should not have monetary oversight regarding the capital budget and maintain its current function regarding capital planning.
The committee discussed the allocation of funds to the City committees and determined there would be $15,110 encumbered in the City admin budget line item Supplemental.
Jim moves to recommend allocation of fiscal funds for FY 2009 for the following committees;
Library Committee $35,000
Road Maintenance Committee 5,000
Fire Department Committee 34,000
DRC Committee 21,000
Lands Committee 34,000
Marine Committee 10,000
Parks & Recreation Committee
GCN Committee
Borough Committee 5,000
Finance Committee 500
Planning Committee 500
For a total of $145,000.
Bruce seconds the motion.
The motion passes unanimously.
Becky will call committee chairs to request they attend the Kumbaya. Jim will post a second wave of meeting notices for the Kumbaya. The committee discussed having at least 2 members from each committee attend.
Additional discussion points for the Kumbaya were addressed.
1) The energy grant balances fuel and electricity cost for the City departments except for the City and Fire Hall where Gustavus Electric pays the Electric bill.
2) Need to provide policy for pay increase. Up to 4% was the suggested amount during committee discussion. Need to define parameters for City committees.
Finance Committee Meeting
Tuesday February 12, 2008
Page 3 of 3
3) Workers Compensation Insurance has increased (APEI) 10% and insurance such as P&L have increased across the board.
4) Encumbering funds is the only way for a City committee to “save” money for future capital items or projects. These funds will be tagged to the specific capital request. The City Council will not allow a committee to encumber monies that will compromise the committee’s operating budget and the City Council will not encumber small dollar amounts.
5) The library committee should encumber funding for their roofing project prior to the end of fiscal year 2008 to carry over to fiscal year 2009 should the roof not be repaired before the end of fiscal 2008.
Jim will email Committee Budget Worksheet to Sandi and the rest of the committee tonight.
Meeting Adjourned at 9:10 PM
Approved this _____ day of ________________________, _________
by _____________________________________________, committee member.
