HomeMy WebLinkAbout2001 08-09 FCMFinancial Commission
Meeting Minutes
August 9, 2001
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 Nemec, Blarney and Hruska
Members Absent and Excused: Commissioners Peterson, Elftman and Wilkinson.
Council Members Present: Council Member Peppe
Others Present: City Manager Michael McCauley and Fiscal and Support Services
Director Douglas Sell
3. Meetine Minute Annroval
Motion by Commissioner Blarney, Second by Commissioner Nemec to approve the
meeting minutes of the July 12, 2001 meeting as presented. Motion carried.
4. Agenda Annroval
Motion by Commissioner Nemec, Second by Commissioner Blarney to approve the
agenda as presented. Motion carried.
5. Street Light Utilitv
Chair Escher reviewed the discussion from the July 12, 2001 meeting. Commissioners
discussed the proposed ordinance and suggested that a provision relating to collection of
delinquent billings be incorporated into the proposed ordinance. Motion by
Commissioner Blarney, Second by Commissioner Hruska to recommend approval of the
Street Light Utility Ordinance to the City Council. Motion carried.
6. Investment Policv
Changes to the City's investment policy were reviewed by the Commissioners. There
was discussion of specific provisions relating to purchase of commercial paper and
related limitations on this type of investment activity. Commissioner Nemec reviewed
the findings of the sub-committee with the Commission as the changes to the policy were
discussed. Motion by Commissioner Hruska, Second by Commissioner Nemec to
recommend approval of the revised Investment Policy to the City Council. Motion
carried.
7. Miscellaneous
Chair Escher requested an updated list of Financial Commissioners be distributed to all
members. Commissioner Blarney commented that he is pleased to see the positive
direction. of EBHC's profitability. Chair Escher commented that the Financial
Commission met with the City Council as part of the first 2002 Budget review effort.
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8. Next Meetine
The next meeting will be with the City Council as part of a 2002 Budget workshop on
Tuesday, October 15, 2001 beginning at 6:00 PM, Conference Room B.
9. Adiournment
Motion by Hruska, Second by Blarney, to adjourn at 7:45 PM. Motion carried.
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