HomeMy WebLinkAbout2001 07-12 FCMFinancial Commission
Meeting Minutes
July 12, 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, Elftmann and Peterson.
Commissioner Blarney arrived at 7:40 PM.
Members Absent and Excused: Commissioners Hruska and Wilkinson.
Council Members Present: Council Member Peppe and Ricker
Others Present: City Manager McCauley and Fiscal Services Director Sell
3. Agenda Approval
Motion by Commissioner Nemec, Second by Commissioner Peterson to approve the
agenda as presented. Motion carried.
4. Street Light Utilitv
City Manager McCauley discussed a proposal that would permit the creation of a street
light utility. Such an activity would provide for several benefits that include an ability to
generate dollars for capital projects as well as operations. Following the discussion,
Commissioner Peterson moved, Second by Commissioner Nemec, to approve concept for
further study and review of a draft ordinance. Motioned carried.
5. Investment Policv
City Manager McCauley discussed the proposed changes to the City's investment policy.
Commissioner Nemec presented a report from the Financial Commission sub-committee
charged with review. Following discussion of the items contained in the report from the
sub-committee, it was suggested that staff review the items in the report and incorporate
several changes in the existing policy for review and action by the Commission at its next
meeting.
6. Project Update
City Manager McCauley provided information to the Commission on the following
projects:
1. City Hall and Community Center Construction - This project will be
submitted for bid on July 16 Alternative meeting space will be necessary
for City Council meetings during the renovation activity.
2. Brookdale Project - Construction is underway for the rehabilitation and new
construction at the mall. There is some discussion over the siting of the MTC
transit facility and funding for this facility between the owner's of Brookdale,
the City and the MTC.
3. 69`hl70th Street Project - The City has reviewed plans for a new KFC and
A&W as well as new service station and convenience store at this location.
4. Brooklyn Blvd - Work at the interchange with I-694 is proceeding.
City Manager McCaule advised the Commission that the Council Budget Workshop is
scheduled for August 0 at 6:00 PM.
7. Miscellaneous
City Manager McCauley advised the Commission that the City participated in a "Smart
Growth" workshop session earlier this week. Residents were afforded an opportunity to
identify their ideas and concept plans for the major commercial areas.
Chair Escher suggested that staff develop a new policy manual for each Commissioner
with the most current policies and include Commissioner's on distribution list for
financial statements including investment analysis.
8. Next Meeting
The next meeting of the Commission is scheduled for Thursday, August 9, 2001 at 7:00
PM, Conference Room B, City Hall.
9. Adiournment
Motion by Nemec, Second by Elftmann, to adjourn at 8:20 PM. Motion carried.
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