HomeMy WebLinkAbout2003 01-16 FCM• Financial Commission
Meeting Minutes
January 16, 2003
1. Call to Order
The meeting was called to order by Chair Escher at 7:00 PM
2. Roll Call
Members Present: Chair Escher, Commissioners Elftman, Nemec Peterson and
Wilkinson.
Members excused: Commissioners Blarney and Hruska
Others Present: Council Member Bob Peppe, Council Liaison and Fiscal and Support
Services Director Douglas Sell
3. Annroval of Meetiniz Minutes
Motion by Commissioner Peterson, second by Commissioner Nemec to approve the
meeting minutes from November 18, 2002. Motion carried.
4. Election of Officers
Mr. Sell opened the Election of Officers requesting nominations. Commissioner
Wilkinson moved to nominate Commissioner Escher to serve as Chair for 2003, second
by Commissioner Elftmann. Motion by Commissioner Wilkinson, second by
Commissioner Elftmann to close the nominations, and cast a unanimous ballot for the
slate of candidates. Motion passes. Chair Escher then appointed Commissioner Hruska
as the Vice-chair.
5. Approval of Agenda
Motion by Commissioner Wilkinson, second by Commissioner Peterson to approve the
agenda with the addition of an "informal discussion of budget concerns" at the request of
the Chair. Motion passes.
6. Audit Update
Mr. Sell provided the Commission with an update on the audit for fiscal year 2002. He
reported that the auditor, Tautges, Redpath, LTD, has made preliminary reviews of
several items to include liquor and Heritage Center inventories to determine the
appropriateness of reported balances and verification of inventory methods; has counted
cash drawers to reconcile reported change funds with actual; and has performed the initial
review and testing of accounts payable, accounts receivable and investment balances and
transactions.
7. Other Business
Chair Escher reviewed the budget issues of 1991-1992 when the City was faced with
similar circumstances as they currently face. At that time, employees, departments and
management were consulted to identify areas for cost reduction or containment. A task
force then reviewed the suggestions and made specific recommendations to the City
Council. Chair Escher asked for reaction from Commission members. Commissioner
Wilkinson indicated that it is his understanding that the Commission is an advisory body
to the City Council and it is in these times that advice would seem to be most needed.
Other Commissioner members were in agreement.
Chair Escher stated that the Commission is able and willing to work with the City
Council and the City manager on these issues.
7. Next Meetina
The next meeting will be with on Thursday, March 13, 2003 beginning at 7:00 PM, City
Hall, Council/Commission Conference Room.
8. Adi ournment
Motion by Commissioner Nemec, second by Commissioner Elf nann to adjourn the
meeting. Motion carried. The meeting adjourned at 7:42 PM..
•
•